Neuron Wallet, the multi-currency fiat-crypto wallet

Dmitri Dervoed
Articles
 — May 5, 2019
5min. read

The Neuron Wallet is a multi-currency system, which enables a customer to deposit, exchange and transact with various cryptocurrencies and fiat funds. The first version of the decentralized app will have the following parameters:

    • Conversion between 5 cryptocurrencies (During launch stage. A lot more will be added in the future).
    • Trade on the exchange directly from your wallet.
    • Conversion from/into fiat money.
    • Transparent cross-border remittance.
    • Guaranteed security (two-factor authentication, multisig and seed-phrases).
    • Anonymity (user data is never stored on the company’s servers).
    • Plastic card support: access to balance information, making transfers, security settings, issuance of new cards.
    • Simplified process of depositing and withdrawing currencies.
    • Crypto API (integration with third-party services, a ready-made solution for online stores, services and portals that need to introduce cryptocurrency transactions).

The Neuron Wallet is an important factor in the NeuronChain universe, especially in the Agent Network infrastructure, as explained in the illustration below:

  1. Agent’s remuneration is set at 1/3rd of the NeuronEx commission.
  2. Customer A (Agent 1) in one currency zone wishes to transfer EUR 1,000 to Customer B in another zone.
  3. Customer A (Agent 1) buys Neuron Coins in their currency zone on the decentralized NeuronEx P2P exchange or any other crypto exchange through the Neuron Wallet.
  4. Seller 1 sells Neuron Coins to Customer A via NeuronEx or any other crypto exchange through the Neuron Wallet.
  5. Seller 1 pays commission to NeuronEx for selling Neuron Coins (if he/she trades NRON through NeuronEx).
  6. Customer A transfers the purchased amount of Neuron Coins to Customer B’s Neuron Wallet.
  7. Customer A pays a money transfer commission (1 NRON).
  8. Customer B receives the transfer and sells the received amount in Neuron Coins on NeuronEx or any other crypto exchange through the Neuron Wallet.
  9. Agent 2 buys Neuron Coins.
  10. Agents 1 & 2 receives a reward, which amounts to 1/3rd of the NeuronEx commission for the transaction.

 

Comparison with other wallets

 

The number of wallets operating in the market currently exceeds 100. However, none of them support fiat currency transactions.

They are plagued with problems like :

  • limited functionality
  • low levels of security
  • lack of plastic card support
  • low level of anonymity

Below is a comparison highlighting the main differences between the different cryptocurrency wallets in the market.

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