Openledger wallet review

Openledger
Developed Ease of use,  High Privacy,  User Private Keys Stored

Airbitz is an online wallet platform that is integrated into the OpenLedger decentralized exchange system, dubbed 'perhaps the world's most powerful' decentralized financial platform. It is powered by the BitShares technology. They claim to be faster, much more secure, and offer more features than the Bitcoin network, with price-stable market-pegged assets (SmartCoins) and user-issued assets.

OpenLedger is a complex ecosystem that provides many more features than other wallets besides access to the BitShares network, users can deposit fiat currencies in the wallet as SmartCoins and generate user-issued assets (create their own token to use for various purposes like crowdfunding or company shares). Users can connect to other wallets and use those assets on the OpenLedger exchange.

Company / organization behind the wallets

The well known and respected Danish Exchange CCDEK is behind the Open Ledger platform. It is part of a major conglomerate that includes BitTeaser, OpenLedger, Obits, and other blockchain projects. Their success has not yet been fully tested.

Crypto Currencies Support

Language Support

  • Chinese
  • English
  • French
  • German
  • Russian
  • Spanish
  • Turkish

Supported Systems

  • Online Only

Partners and integrated software

  • BitShares 2.0

OpenLedger claims to have a high level of security and not to store users private keys. Although encrypted, the private keys are stored locally on the users computer along with the recovery file. This is not considered a very secure option by industry standards. It is not uncommon for less established coins to start with less security.

Summary:

Security
Low
2 Factor Authentication
No
Multi-Signature
No
Private Keys Stored On
User
Storage Type
Hot storage
Transactions Validation
Centralized validation
Hierarchical Deterministic
No

What happens in the event of a disaster/theft/loss?

A .bin recovery file is created.

OpenLedger has made an effort to predict the issues that a user might encounter on the platform and has created a robust Help and FAQ section on the website. The design of the platform is sleek and looks very professional. Some users have complained about it being too complicated, but upon login there are two versions to choose from - basic and advanced.

Summary:

OpenLedger is a complex ecosystem of innovative blockchain projects, including the wallet, which is actually the same thing as the user's account on the platform. The wallet functions are perhaps the least important aspects of OpenLedger, but they include things like SmartCoins and user-issued assets, which is something new and interesting when it comes to cryptocurrency wallets.

Ease of use
Developed
Suitable For
Techy’s
Account activation process
Simple
Transaction fees
Dynamic Transaction fees
Setup fee
$0.00

Functionality:

  • Exchange coins crypto to crypto
  • Withdrawal funds to bank account
  • Withdrawal funds through a third party (Paypal)

OpenLedger is a complex ecosystem that provides many more features than other wallets besides access to the BitShares network, users can deposit fiat currencies in the wallet as SmartCoins and generate user-issued assets (create their own token to use for various purposes like crowdfunding or company shares). Users can connect to other wallets and use those assets on the OpenLedger exchange.

The wallet platform has built the exchange function in their own software and manages it locally.

Help and support:

  • FAQ section
  • Contact form
  • Email
  • Peer to Peer assistance

Most common customer complaint:

Too many features has caused a number of glitches and errors