Maiar is a digital crypto wallet and global payments app that allows you to exchange and securely store crypto on your mobile phone. You can use Maiar to send and receive crypto money near-instantly, to and from anyone around the world by just using a phone number or a @herotag.
A crypto wallet is a place where you can securely keep your crypto. There are many different types of crypto wallets, but the most popular ones are hosted wallets, non-custodial wallets, and hardware wallets. Which one is right for you depends on what you want to do with your crypto and what kind of safety net you want to have.
Hosted wallets: When you buy crypto using an app like Binance, your crypto is automatically held in a hosted wallet. It’s called hosted because a third party keeps your crypto for you, similar to how a bank keeps your money in a checking or savings account. The main benefit of keeping your crypto in a hosted wallet is if you forget your password, you won’t lose your crypto. A drawback to a hosted wallet is you can’t access everything crypto has to offer and if the provider is compromised you might lose your crypto.
Hardware wallets: A hardware wallet is a physical device, about the size of a thumb drive, that stores the private keys to your crypto offline. Most people don’t use hardware wallets because of their increased complexity and cost, but they do have some benefits — for example, they can keep your crypto secure even if your computer is hacked. However, this advanced security makes them inconvenient to use compared to a software wallet and they can cost upwards of $50-$100 to buy.
Maiar is a non-custodial wallet. This means that Maiar:
- Is a decentralized wallet and you, and only you hold the keys to your cryptocurrency wallet.
- Is a user controlled wallet so only the user has control over their funds.
- Has access to DApps unlike hosted wallets.
- Does not keep any personal information.
Maiar acts as a bridge that connects to individual blockchains via their nodes. Every blockchain has their own set of public addresses. These addresses are where the crypto are encrypted and stored.
Maiar does not hold or control any crypto, it just gives the user access to it. Maiar is also free to download and fees are all paid to the miners or validators.