The new wallet is the evolved version. These new crypto wallets come in handy. According to the founder, it won’t be needing any kind of outside link. It’s hassle-free. Kresus made this new wallet. This new one is in its infancy stage. However, they have declared this one won’t need a password to be precise. It just requires magic links provided by the company.
Hassle-Free Crypto Wallet
When it’s a wallet it usually comes with a password management tool. Passwords are mandatory. The new crypto wallet doesn’t require any type of seed phrase or password. In general, every wallet asks for hash phrases and unique passwords. If a user has many wallets it’s usually a very difficult job to memorize all of them.
Kresus Labs brought this new crypto wallet where passwords won’t be necessary whatsoever. All the new account users will be provided with magic links. Which is nothing other than the Amazon web services hardware security module provided link. Along with 2FA for authentication.
The new crypto wallet is usually monitored by web2. This made it easier for them to access it without a password. Or any type of seed phrase. This also has looked upon all the problems that happened in the past. They have taken care of all the mishaps that happened in the past of crypto history.
Majority of the crypto users prefer multiple accounts. Multiple accounts require multiple passwords. Which is very unlikely for a human being to remember. If an account user loses one of their recovery phrases their account tends to crash almost immediately.
Even worse if something happens with the device. They will lose their account forever. Many people like to keep their crypto coins in exchange accounts. However, what happened with FTX, every user is more scared. The crypto wallet has taken care of everything.