Introduction to Ubiq
Ubiq is an open source cryptocurrency, but unlike many other ones, it was made not merely for payment purposes. Ubiq is also the name of a blockchain platform allowing users to create and implement smart contracts and DApps (decentralized applications).
Here’s the information from the official Ubiq website:
Ubiq is a decentralized platform which allows the creation and implementation of smart contracts and decentralized applications. Built upon an improved Ethereum codebase, the Ubiq blockchain acts as a large globally distributed ledger and supercomputer, allowing developers to create decentralized and automated solutions to thousands of tasks which today are carried out by third-party intermediaries.
Developed as a hard fork of Ethereum in early 2017, Ubiq has its native crypto-token which is accepted on its network as fees for transactions and computations. Users can generate UBQ through the process of mining.
Ubiq (UBQ) price on CoinMarketCap.
How to store Ubiq UBQ cryptocurrency?
Just like any other cryptocurrency on its own blockchain, Ubiq should be stored securely in a wallet which supports UBQ. Guarda team did profound research in this field and drew up a list of general requirements for the Ubiq wallet:
Choosing a secure wallet for Ubiq
Basic recommendations for finding a trustworthy crypto wallet will always include “non-custodial” as one of the main characteristics. Indeed, custody-free wallets significantly reduce your risks of losing money, for they don’t keep the user’s personal data or private keys. This means you are the only person in charge of the funds and wallet backups.
Finding an actively developing UBQ wallet
Security and convenience of the service hugely depend on the activity of its development team. Make sure that the wallet updates take place regularly. All the information about adding new product features can usually be found on wallet websites, social network pages, in blogs and community chats. If these channels keep silence for too long, you’d better go for another wallet.
Checking reviews for your Ubiq wallet
Looking through the reviews can be quite helpful for several reasons — from evaluating the wallet’s trustworthy to understanding its features and functions better. Find out all the pitfalls in advance not to be taken by surprise later.
Wallet reviews are normally available on dedicated Google Play and App Store pages for mobile applications, as well as on specialized review platforms like Trustpilot or CryptoCompare. While reading user feedback, pay attention to the developer’s answers too. It’s a bad sign when numerous inquiries are left unattended.
Getting to know the community of your wallet
If you’re new to blockchain technology and your crypto journey only begins, joining the wallet community can be especially useful. These people have already made their way from novices to advanced users and likely to know the answers to most of your questions. They will help you to navigate in the vast amount of information floating around and offer some insights into efficient ways of managing your crypto.
Setting up your new Ubiq wallet
After going through all the points mentioned above and finding a suitable variant, it’s time for you to get a new cryptocurrency wallet for Ubiq. In the next paragraph, Guarda team will explain to you a simple process of creating Ubiq storage in a few steps.
How to Create Ubiq Wallet
Cryptocurrency wallet for Ubiq can be easily set up on Guarda. In this step-by-step guide, we’ll show you how to get Guarda Web Wallet for UBQ. Our web version meets all the requirements listed above and perfectly suits both the beginners’ and experienced market players’ needs since it allows to store, send, receive, exchange and purchase for fiat over 40 major coins and 10 000 cryptocurrency tokens.
Create Ubiq wallet by following these 4 steps:
- Go to the main page of Guarda Wallet website and click “Create Wallet”;
- Make up a strong password for your new Ubiq wallet;
- Download the backup file and store it in a safe place;
- Your Ubiq wallet has just been created!
Step 1. You will find the creation button in the upper right corner of the Guarda wallet website. Once you’ll click it, you’ll be redirected to the welcome screen. Choose to create a new wallet again in order to proceed. If you would like to find some extra information on the Ubiq wallet you’re about to create, please, check the Web Wallet page.
Step 2. Making up a strong password for your new Ubiq wallet is essential. To protect your assets, try not to repeat the same password you already use for some other services. Choose a combination of upper/lowercase letters, numbers and symbols. You can find some additional information on cryptocurrency wallet passwords in our guide.
Step 3. Downloading your backup and finding a safe place to keep it in is extremely important. You can only log into your wallet with a combination of Guarda wallet backup and the wallet password. As we already mentioned, all Guarda wallets are non-custodial. Hence, the company doesn’t store your backups and cannot access them. Due to this, we won’t be able to restore them in case of loss. Please, make sure to save your backup file and never share it with anyone.
Step 4. Your new wallet is all set up! Now you can manage Ubiq safely and smoothly with all the features that Guarda team has prepared for you. Enjoy!