As a cryptocurrency enthusiast, who had spent all my years using a custodial wallet, I was eager to step up my game and try a non-custodial wallet. I heard of some exchanges that became insolvent or hacked, leading to billions of losses in user funds, and I wanted to secure myself from that. As the common phrase says: not your keys, not your crypto.
Indeed, I was excited to try out a new non-custodial wallet that promised to offer me more control over my funds. So, I transferred all my tokens to the new Non-custodial wallet and was ready to use it immediately. I decided to send $200 worth of Bitcoin to my friend, John, who wanted to set up his wallet as well, but unfortunately, I made a costly mistake.
I copied the wallet address as he sent it and triple-checked it, or so I thought; alas! I had sent the coins to the wrong address. I argued with John for hours, insisting that he should have received his bitcoin, but after we eventually checked my transaction history, I discovered that the address I sent tokens to wasn’t John’s.
Unknowingly, I sent the tokens to a random address I had copied on my clipboard, thinking it was John’s. Unfortunately, the transaction was irreversible, and there was nothing I could do to retrieve my lost funds. I was devastated.
The Solution: An Address Book
The loss was a hard pill to swallow, but it made me realize the importance of having a better way of storing and managing addresses that I interact with, given that crypto addresses are unreadable and everything just looks the same. I didn’t want to get caught up in such a situation again; hence, I needed a solution that would help me identify addresses with names I could understand myself, and that’s when I decided to use a non-custodial crypto wallet with an address book function.
A crypto address book is a tool within a wallet that allows you to store, organize and manage all of your cryptocurrency addresses in one place. You can create a label for each address, making it easy to identify who you sent money to or received money from. You can also add notes, comments, and other useful information about each address, making identification easy and seamless.
Cwallet Non-Custodial Wallet - The Perfect Solution
I went back to the app store and started to try out new crypto wallets. Once I installed a crypto wallet, and it didn’t have a function or tool that allowed me to save addresses in my preferred way, I simply installed it and never looked back.
Along the line, I discovered Cwallet; it was unique as it had both custodial and non-custodial wallet options within a single app. I was intrigued, and I decided to check it out, and boy, it massively exceeded my expectations!
After downloading and launching the app, I switched to the Non-custodial option with a smart button, which instantly allowed me to create my own wallet and store my seed phrase.
I instantly explored the app and discovered that it had a feature that allowed me to save addresses with names that I could easily remember. I felt fulfilled and eager to try out my new app, so this time, I deposited just $30 to try it out; better safe than sorry, eh?
To my utmost amazement, Cwallet did not only execute the transaction accurately but also completed the transaction without charging a single fee. I mean, I sent in tokens for free and also sent them out to my friends without having to pay even a cent for the service - It was too good to be true!
Cwallet was also user-friendly and easy to navigate, unlike some of the other apps I downloaded earlier. It has a straightforward design, making it easy to see everything I want at a glance, and I was more than satisfied.
Adding an address book on Cwallet is this simple:
Having the option to use an address book in my wallet was a game-changer for me. It made it so much easier to remember people's addresses and also gave me an easy way to distinguish between people with similar names. Furthermore, it also gives me a sense of security that affords me greater control over my funds.
Indeed, I lost $200, but the aftermath taught me some valuable lessons. I realized the importance of having a reliable way to manage my addresses with crypto address books.
Cwallet blew my mind; beyond solving my immediate problems, it also allowed me to execute transactions without paying a dime in fees. I couldn’t be happier with any other solution, and I now use Cwallet every day without ever worrying about sending funds to the wrong address.
Does this sound like a problem you have? Sign up on Cwallet, try out the mobile app, and feel in charge of your transactions!