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Lumi Wallet Review

7.7

Secure Wallet

7.5/10

Easy To Setup

7.0/10

Support

8.5/10

Pros

  • Hierarchical Deterministic
  • 2 Factor Authentication

Cons

  • Multi-Signature Not Support
  • Open Source Not Support

About the Lumi Wallet

Lumi Wallet is a software ONLY and does not conduct any independent diligence on or substantive review of any blockchain asset, digital currency, cryptocurrency or associated funds. You are fully and solely responsible for evaluating your investments, for determining whether you will exchange blockchain assets based on your own, and for all your decisions as to whether to transfer blockchain assets with LUMI WALLET. In some cases, blockchain assets you exchange based on your research may not increase in value; instead, they may lessen in value. Similarly, blockchain assets you exchange based on your research may increase in value after your exchange

Lumi wallet Key Details

KeyDetails
Vendor Name Lumi
Supported Currency + 1200 other coins
Wallet Features Hierarchical Deterministic,2 Factor Authentication
Platforms (Android ) (iOS)(WEB)
Validation Type Centralized
Ease of UseEasy
Anonymity High
Email Support[email protected]
Listed At Altwow 01/08/2020
Official Wallet Website Click Here To Visit Wallet Website

General Info      

This wallet is a product of Lumi Technologies. When the Lumi HD wallet was launched in 2017, it was available to only iOS users. It also supported BTC as the only digital asset at its initial launch. However, in 2018, Lumi added ERC-20 tokens for iOS and launched a web interface. That same year, Lumi integrated Changelly to its wallet and increased its coin offerings.

As a mobile and web wallet, Lumi will be open-source, and anyone will be able to contribute to its codes. In addition, it is a Hierarchical Deterministic wallet. HD wallets enable wallet users to create unique addresses for each transaction. This will result in the privacay of transtions.

Supported Coins

The wallet now supports ERC-20 (and Lumi Collect, also ERC-721 tokens). Generally, Lumi-supported coins include:

  • Bitcoin
  • Bitcoin Cash
  • Ethereum
  • EOS
  • ERC-20 standard tokens
  • ERC-721 standard tokens

Lumi Wallet Fees

For each transaction, you are required to pay network fees. You should note that the higher the fees, the faster the transaction. You could pay about 40-250 sats for a standard transaction. Lumi charges 1% for exchange services.

Lumi Wallet Price

The wallet is free to use. You can gain access to the wallet from its web interface, iOS, and Android version without paying a dime. Just download and use.

Lumi Wallet Ease of Use

Lumi Wallet Ease of Use

Crypto owners are mostly unwilling to compromise on their wallet’s ease of use. Lumi wallet is easy to use for beginner, intermediate, and expert crypto users. Setting up a Lumi crypto wallet can be done in a few easy steps.

  • Download the Lumi Wallet app from Google Playstore or Apple AppStore.
  • Install the app and then create a wallet. You can either import an existing wallet or create a new one.
  • When importing an existing wallet, enter your password, mnemonic phrase, or private key. You’d have to go through this process anytime you want to gain access to the wallet.
  • If you are setting up a new wallet, create a PIN code to secure your wallet. The fingerprint and Face ID features also enhance the wallet’s security.
  • Backup your wallet and write down the 12-word mnemonic phrase.
  • Finally, your wallet is ready for use.

Anonymity

This wallet offers a high level of anonymity. For instance, the HD wallet will create a unique address for each transaction, enabling anonymity.

Security

Wallet users usually have features they look out for in a crypto wallet. Safety is usually top on the list of features. This wallet has certain safety features in place that work to keep your funds secure. The wallet is equipped with fingerprint security. It eliminates the inconvenience of having to memorize pin codes. 

Where to buy Lumi Wallet?

The wallet is available for Android, iOS, and web interface. Visit https://lumiwallet.com/ to download the app. You can also visit the respective mobile app stores to download for free

Design

As you might have noticed from the rest of this review, I am impressed with the design of the Lumi Crypto Wallet. I can tell that they have put the user first and made it as simple as possible to get started with the wallet. At the end of the day, this is really important for the growth of the digital asset industry. Many people get put off with how difficult it can be, so applications which make it easier are always welcome.

What wallet type is Lumi?

  • Mobile/web wallet
  • Client-side
  • Hierarchical Deterministic (HD)
  • Open source

How To Secure Your Lumi Wallet?

There Are A Number Of Ways To Keep The “Bad Guys” Away From

There Are A Number Of Ways To Keep The “Bad Guys” A from Lumi Wallet. And Although Cryptocurrency, As A Technology, Has Increased Anonymity And Encryption, The Devices On Which These Funds Are Stored (Phone, Pc, Tablet) Are Much More Susceptible To Hacking. Below Are A Number Of Simple Tips That Can Improve The Security Of Your “Crypto Wallet”.

Step 1 : Store Your Lumi Wallet Private Keys Offline: Print Them Out On Paper

The “Hunt” For Your Data Does Not Stop For A Minute, Regardless Of What Gadget You Use, Or What Network You Are Connected To. A Good Idea To Solve Some Of The Problems Associated With The Possibility Of Theft Of Personal Data Is Printed On Paper Keys For The Wallet — A Variant Of Replacing The Software “Assistant”. In This Case, You Will Only Need Paper And A Printer — No Additional Devices Or Gadgets. The Output Will Be A Kind Of Offline Wallet, Represented By A Pair Of Printed Keys. Some Enthusiasts Refer To This Approach As “Cold Wallets”, Because In The End, The Storage Process Takes Place Offline.Paper Wallets Are In Regular Demand, And You Can Test Their Functionality Yourself:

The Main Difference: The Creation Of Unique Addresses And Keys Through The Use Of Client-side Js Scripts. In Other Words, Keys Are Created Immediately On Your Pc, Without Requiring Data Transfer Over The Internet. And To Make This Process More Fun, The Developers Suggest That You Move The Mouse And Fill In Text Fields, Thus Obtaining Unique Data For Generating The Necessary Tools.

Step 2 : Setup Second Step Verification

Two-factor Authentication Requires The User To Enter An Additional Code From Another Source – Such As A Text Message Or Email. However, The Most Common Method Is Through The Google Authenticator App. Just Install It On Your Phone And It Will Generate A New 6-digit Access Code To Log In To Your Wallet Or Make Transfers.

We Recommend Using Only Those Web Wallets That Do Not Support Two-factor Verification. In Particular, The Kriptomat Wallet Offers To Activate 2fa Already At The Registration Stage.

Step 3 : Create A Strong Password For Your Lumi Wallet

If You Decide To Use A Web Wallet, Which Is Recommended Only For Small Transactions, Always Make Sure That Your Password Is Secure. Never Enter Your Date Of Birth Or Credit Card Pin As Your Password. Use Alphanumeric Combinations, Combine Cases, Use Underscores, And So On. But It’s Best To Use An Strong Online Password Maker Website.

Step 4 : Learn To Recognize Phishing Sites

Phishing Sites And Apps Mimic The Design Of Popular Crypto Wallets In The Smallest Detail — Only The Page Address Is Slightly Different. Before Entering Your Private Key Or Secret Phrase In Your Wallet, Make Sure That The Page Address Is Correct.

The Chrome Store Library Is Known For Its Abundance Of Phishing Extensions, Especially For Cold Wallets Like Ledger. Although Google Removes Dozens Of Such Fraudulent Products Every Month, New Ones Are Coming In Their Place. In March 2020, Fraudsters Stole More Than $ 250,000 In Ripple Coins From Their Wallets Using A Fake Extension, And In June 2020, Crypto Podcast Host Eric Savix Lost All Of His 12 Bitcoins By Entering A Secret Phrase In A Phishing Extension For Ledger.

Step 5 : Don’t Click On Links In Emails

Phishers Often Send Emails From An Address That Is Almost Identical To The Real Address Of The Wallet Support Service. For Example, If You Use A XYZ Wallet From xyz.cxom Then You May Receive An Email From A Fake Address Like [email protected] Instead Of The Present [email protected] These Emails Try To Scare The User Or Create The Illusion Of Urgency — For Example, You Will Be Informed That Your Account Has Been Hacked/Blocked And That You Need To Update Your Security, Change Your Password, And So On. The Link Leads To A Fraudulent Page That Will Either Steal Any Data You Enter Or Install A Virus On Your Device.

This Also Applies To Ads Above Google Search Results That Often Advertise Phishing Pages. Here Is An Example – Note The Difference In Just One Letter Between A Real Address And A Fraudulent One:

Step 6 : Install Or Use Trusted Antivirus

The First Thing You Should Do After Installing A Lumi Wallet Is Install A Reliable Antivirus And Update It. Most Cyber Attacks Attempt To Send Important Information From Your Computer, You Should Make Sure That Your Pc Or Mobile Is Protected From A Virus Threat. Regularly Update Your Antivirus To Minimize The Risks Associated With The Appearance Of New Virus Threats That The Old Version Did Not Protect Against.

Step 7 : Never Disclose Your Private Keys

Private Keys Are Intended Exclusively For You. You Should Not Disclose Them For Transactions Or Cryptocurrency Purchases

Final Thought

We Hope You Like Our Lumi Wallet Review . If You Like Than Please Comment Your Thought Below . Also Subscribe Our Newsletter For More Interesting Wallet Reviews . Thanks For Visit At Altwow .

Wallet. And Although Cryptocurrency, As A Technology, Has Increased Anonymity And Encryption, The Devices On Which These Funds Are Stored (Phone, Pc, Tablet) Are Much More Susceptible To Hacking. Below Are A Number Of Simple Tips That Can Improve The Security Of Your “Crypto Wallet”.

Step 1 : Store Your Lumi Wallet Private Keys Offline: Print Them Out On Paper

The “Hunt” For Your Data Does Not Stop For A Minute, Regardless Of What Gadget You Use, Or What Network You Are Connected To. A Good Idea To Solve Some Of The Problems Associated With The Possibility Of Theft Of Personal Data Is Printed On Paper Keys For The Wallet — A Variant Of Replacing The Software “Assistant”. In This Case, You Will Only Need Paper And A Printer — No Additional Devices Or Gadgets. The Output Will Be A Kind Of Offline Wallet, Represented By A Pair Of Printed Keys. Some Enthusiasts Refer To This Approach As “Cold Wallets”, Because In The End, The Storage Process Takes Place Offline.Paper Wallets Are In Regular Demand, And You Can Test Their Functionality Yourself:

The Main Difference: The Creation Of Unique Addresses And Keys Through The Use Of Client-side Js Scripts. In Other Words, Keys Are Created Immediately On Your Pc, Without Requiring Data Transfer Over The Internet. And To Make This Process More Fun, The Developers Suggest That You Move The Mouse And Fill In Text Fields, Thus Obtaining Unique Data For Generating The Necessary Tools.

Step 2 : Setup Second Step Verification

Two-factor Authentication Requires The User To Enter An Additional Code From Another Source – Such As A Text Message Or Email. However, The Most Common Method Is Through The Google Authenticator App. Just Install It On Your Phone And It Will Generate A New 6-digit Access Code To Log In To Your Wallet Or Make Transfers.

We Recommend Using Only Those Web Wallets That Do Not Support Two-factor Verification. In Particular, The Kriptomat Wallet Offers To Activate 2fa Already At The Registration Stage.

Step 3 : Create A Strong Password For Your Lumi Wallet

If You Decide To Use A Web Wallet, Which Is Recommended Only For Small Transactions, Always Make Sure That Your Password Is Secure. Never Enter Your Date Of Birth Or Credit Card Pin As Your Password. Use Alphanumeric Combinations, Combine Cases, Use Underscores, And So On. But It’s Best To Use An Strong Online Password Maker Website.

Step 4 : Learn To Recognize Phishing Sites

Phishing Sites And Apps Mimic The Design Of Popular Crypto Wallets In The Smallest Detail — Only The Page Address Is Slightly Different. Before Entering Your Private Key Or Secret Phrase In Your Wallet, Make Sure That The Page Address Is Correct.

The Chrome Store Library Is Known For Its Abundance Of Phishing Extensions, Especially For Cold Wallets Like Ledger. Although Google Removes Dozens Of Such Fraudulent Products Every Month, New Ones Are Coming In Their Place. In March 2020, Fraudsters Stole More Than $ 250,000 In Ripple Coins From Their Wallets Using A Fake Extension, And In June 2020, Crypto Podcast Host Eric Savix Lost All Of His 12 Bitcoins By Entering A Secret Phrase In A Phishing Extension For Ledger.

Step 5 : Don’t Click On Links In Emails

Phishers Often Send Emails From An Address That Is Almost Identical To The Real Address Of The Wallet Support Service. For Example, If You Use A XYZ Wallet From xyz.cxom Then You May Receive An Email From A Fake Address Like [email protected] Instead Of The Present [email protected] These Emails Try To Scare The User Or Create The Illusion Of Urgency — For Example, You Will Be Informed That Your Account Has Been Hacked/Blocked And That You Need To Update Your Security, Change Your Password, And So On. The Link Leads To A Fraudulent Page That Will Either Steal Any Data You Enter Or Install A Virus On Your Device.

This Also Applies To Ads Above Google Search Results That Often Advertise Phishing Pages. Here Is An Example – Note The Difference In Just One Letter Between A Real Address And A Fraudulent One:

Step 6 : Install Or Use Trusted Antivirus

The First Thing You Should Do After Installing A Lumi Wallet Is Install A Reliable Antivirus And Update It. Most Cyber Attacks Attempt To Send Important Information From Your Computer, You Should Make Sure That Your Pc Or Mobile Is Protected From A Virus Threat. Regularly Update Your Antivirus To Minimize The Risks Associated With The Appearance Of New Virus Threats That The Old Version Did Not Protect Against.

Step 7 : Never Disclose Your Private Keys

Private Keys Are Intended Exclusively For You. You Should Not Disclose Them For Transactions Or Cryptocurrency Purchases

Final Thought

We Hope You Like Our Lumi Wallet Review . If You Like Than Please Comment Your Thought Below . Also Subscribe Our Newsletter For More Interesting Wallet Reviews . Thanks For Visit At Altwow .


editor