About Burner Wallet
The Burner Wallet works in your mobile web browser so no app download and no seed phrase. It runs on the xDai network so transactions always completed within five seconds, you can do hundreds of them for a penny, and it’s pegged to the dollar so there is low cognitive overhead. The best part is onboarding is as easy as opening your camera.
A burner wallet is automatically generated upon visiting xdai.io and your private key is stored in a local storage so it will be there when you come back. However, you should sweep any value you hold to a cold wallet regularly and burn your ephemeral private key. A burner wallet is analogous to cash; you won’t carry too much because it can be lost but it’s astonishingly easy to exchange.
This can also be very handy in everyday use even for the crypto-initiated. If you are share a Lyft or a pizza with a friend and want to split the cost, just shoot their QR code with your camera and it will open up a new burner wallet to exchange value with them. Just don’t forget to sweep to cold storage and burn your key when you get home!
Mission
In the short term, the Burner Wallet will drive onboarding by being irresistibly easy to use to move small amounts of crypto within the ecosystem and at events. In the near term, the Burner will act as a platform for games and apps. In the long run, the Burner will drive mass adoption, be ubiquitous in the space, and act as a cash replacement.
Components Of Burner Wallet
Burner Wallet is a crypto wallet and its composed of the following:
1. Receive option that will show your Ethereum address which can be used to receive funds.
2. Send option which can be used in sending funds to another wallet address and you can do this by inputting the receiver’s address and the amount of coin you want to send.
3. Option for exchange and here, you can exchange xDai coin to ETH or ETH to xDai.
4. Option to Request for Funds.
5. Option for inputting links with any funds that is to be transferred.
Support
- burner-wallet has a low active ecosystem.
- It has 465 star(s) with 169 fork(s).
- It had no major release in the last 12 months.
- On average issues are closed in 99 days.
- It has a neutral sentiment in the developer community.
Tips for securely storing your Burner Wallet
- Do your own research. Before sending any coins or private data to a wallet, make sure you have researched the wallet provider to make sure everything is above board. Keep an eye out for scam wallets, such as those using URLs only slightly different to the URLs of legitimate wallet providers, and check out some independent reviews for all the pros and cons.
- Back it up. Maiar.com use of your wallet’s back-up and restore facility so that if something ever goes wrong with your wallet, you’ll be able to recover your funds.
- Set a strong password. Now is not the time to be lazy when creating a password; take your time to create a strong and uncrackable code.
- Make use of all available security features. Make the most of all the security features your wallet offers, such as two-factor authentication or multi-signature transactions. It’ll offer increased protection for your funds and greater peace of mind for you.
- Update your antivirus software. Maiar.com care to regularly update the antivirus protection and anti-malware software on any device you will be using to access your wallet.
- Keep your private keys private. Last but not least, don’t underestimate the importance of your private keys. Store them somewhere safe and don’t share them with anyone else.
Conclusion
Burner wallet is a crypto wallet that runs on the xDai network which means that transactions are completed within seconds. Burner wallet works on xDai blockchain and its also a token. xDai blockchain is operates as an Ethereum sidechains which uses a proof known as Proof Of Autonomy consensus. Burner wallet runs on xDai blockchain as earlier stated and uses xDai by taking advantage of its fast transaction times and the low rate of fees.
