Rahakott wallet info

[Zolin]

Hi, there. I didn't find the info on the site. Can I download the wallet to my SSD? Btw, I heard that offline wallets are bigger. How big are they, is 200 Gb enough? Another question, can I store only bitcoin here or not? I'm interested in ethereum and litecoin in particular. And another quick question. It's not that important but still, how long has this wallet been around?

 

[Toros]

I'd like to add that although the wallet is new, it's quite easy to use. I started using it just recently and the only drawback that I noticed is that you can keep only one kind of cryptocurrency.

 

[Zolin]

So, what exactly is the difference between a hot and a cold wallet, online and offline wallet? Which is better, which is worse? I guess before this I only used the online one. It's only online, right?

 

[rahakottsmm]

Glad that many people are interested in our wallet. Unfortunately, at this time you can deposit, store, and withdraw only bitcoin. The next cryptocurrency we plan to add is Bitcoin Cash (and other popular altcoins after). Rahakott.io is an online service, i.e. is it a hot wallet. With regards to which is better to use, it depends on your specific situation. Cold wallets are convenient because they have a lower probability of breaking, because they do not have direct access to the Internet, while not in use. Another issue is that if you make transactions on a regular basis - it will not be convenient. As for our service, if you will protect the data for authorisation to the wallet (especially a mnemonic phrase), the chances that someone will have access to your account are very small. We recommend to remember a mnemonic phrase or store in a safe place (best to print and store in paper form). If there will be any questions - ask.

 

[rahakottsmm]

We are happy to announce that Rahakott now supports Bitcoin Cash (BCH).
You can send, receive and store Bitcoin cash within the same account that you used for you bitcoins. We are sure that you will appreciate fast transactions and low fees of Bitcoin cash.
If you already have an account on Rahakott, create a new BCH wallet in 'Wallets' section. All new account will be automatically created with two wallets: one for Bitcoin and another for Bitcoin cash.

 

[Zolin]

Quite interesting. I registed already. Registration itself is very simple, using a mnemonic phrase, also choosing a constant password.

 

[rahakottsmm]

The Rahakott project won't add dubious cryptocurrencies. Because they can decrease the security of the cryptowallet and client's accounts, who use them. So, only tested cryptocurrencies will be added. We make sure our clients have good security.

 

[Volt608t]

Pretty interesting. Registration itself is very simple, using a mnemonic phrase, also choosing a permanent password. I already registered myself.

 

[Zolin]

So I see that my wallet now has a couple of new cryptocurrencies (litecoin, Dashcoin and Zcash (ZEC). Is it official and for good?

 

[Toros]

Is there any information on the order in which they're going to introduce the new coins? Are they planning to do that?

 

[rahakottsmm]

All the cryptocurrencies that you see in your Rahakott wallets are official and will not disappear. We are planning on adding other popular cryptocurrencies sometime soon.

 

[rahakottsmm]

I'd like to tell you about the new Rahakott wallet. It appeared in November 2017 and may be very useful to you

 

[rahakottsmm]

In April, our service received the following updates:

1) Now the Wallet supports SegWit transactions for Bitcoin
Why is it important? The initial protocol of the Bitcoin network has a restriction, which significantly limits the speed of online transactions. This is the exact reason why, during the peak loads (e.g. December 2017, when Bitcoin reached highs of $20,000 per coin), the ""execution"" of transactions could take from several days up to several weeks, depending on the charged commission fee. Thus, the restriction made Bitcoin inconvenient to use. SegWit solves this problem – it increases the network bandwidth and reduces transaction costs. Rahakott team supports solutions that increase users' comfort when using the service, and in April, our Wallet has implemented this technology.

2) Besides the support for P2SH addresses, from now on, Rahakott.io also supports sending Bitcoins to their native SegWit addresses (bech32)
P2SH addresses (starting with a “3”) are universal and had been used before the SegWit implementation. Bech32 addresses (starting with “bc1”) are a type of addresses, which were introduced by the developers of SegWit. The advantage of this technology is that it lets reduce the size of the commission fee with the help of the smaller amount of transmitted information per transaction. Also, the register is not important for bech32 addresses (e.g. when dictating the address, you don't have to say where the capital/small letters are in the address).
The amount of the bech32 addresses users is gradually growing, and the amount of services supporting this technology is similarly increasing. In the end of April, Rahakott expanded this list of services.

3) Now, Rahakott supports new addresses (CashAddr) for Bitcoin Cash (BCH).
After BCH separated from Bitcoin (BCT), a problem regarding the same wallet names emerged. One could misunderstand a person and, instead of BCH, send BCT to his/her wallet and vice versa (it was difficult to notice the error, since all the wallets that belonged to one person had the same names). Finally, the community of BCH developers has proposed a new wallet names format (which was also due to the fact that the new format would pave the way for further modifications of the cryptocurrency). You will always be able to identify such wallets since their names start with a “q” or a “p” (whereas the old addresses start with a “1” or a “3”).
Rahakott team has already implemented the CashAddr feature list and encourages you to support the transition to the new format.

 

[rahakottsmm]

We are happy to announce, that from now on Rahakott.io supports one more popular cryptocurrency – Ethereum (without smart contracts and tokens).

To get a wallet in ETH, click the button “Wallets”. Type in a random name for the wallet and click “Add”. Your wallet is ready!

The current commission amount for ETH transactions can always be found in our FAQ section (the link is at the bottom of our website’s pages). The current minimal commission for transferring funds to the external Ethereum Wallets equals 0.001 ETH.
We remind you, that our service does not charge any commission for internal transactions (between the wallets that are registered on Rahakott).

 

[Haert]

I've visited Rahakott website. Well, we're the best and use only our services, as always, you know. What do you think, does this corresponds to reality?

 

[rahakottsmm]

Two updates have recently become available.
1) From now on service fees will not be charged for sending all available currencies. Now, when completing an external transaction, you will only be charged with the blockchain service fee. The amount of the fee depends on the current load on the network, and the actual figures can be found in the FAQ section on our website (the link is at the bottom of every website page).
No service fees are charged for internal transactions (i.e. between the wallets registered on Rahakott). Nothing changes regarding this issue.
2) External transactions became even more convenient. We have eliminated the requirement of guaranteed 20 network fees on deposit when making a transaction.

 

[jialiang li]

try JAXX

 

[rahakottsmm]

Rahakott.io is now supporting one more popular cryptocurrency – Monero (XMR).

In order to get a wallet in XMR, open the “Wallets” section. Put in a random name for the wallet and press “Add”. Your Monero wallet is ready!

On our official website in the FAQ section, you can find the minimal blockchain fee for external transfers. Meanwhile, in case of internal transfers, there is no fee at all (i.e. transfers between Rahakott wallets).