OpenLedger Overview

OpenLedger is a Danish company founded in 2014 with a focus on bringing blockchain technology to businesses. Their primary product is a decentralized exchange, and they offer various services related to blockchain technology.

Web Wallet Features

The web wallet provided by OpenLedger is designed to support users who want to trade, store, and send BitShares' native token, BTS, as well as other cryptocurrencies. It is oriented towards BitShares since OpenLedger uses BitShares as its platform. BitShares wallets are compatible with OpenLedger. However, this wallet does not support fiat currencies.

Transaction Fees

Users pay fees in BTS to conduct exchanges on the platform. For example, if a user deposits Bitcoin to the wallet and wishes to exchange it for another cryptocurrency, they would need BTS to complete the transaction.

Decentralized Exchange

The decentralized exchange is built into the wallet, offering various functions. It allows users to convert assets using the exchange and puts them in control of their private keys. This wallet solution is attractive to those advocating for true decentralization. However, it may pose challenges for newcomers to cryptocurrency and blockchain technology, as it is not known for user-friendliness. Many users have reported difficulties using the wallet, and those seeking ease of use may find more centralized solutions better suited to their needs.

Additional Features

The wallet is not hierarchical deterministic, but it does have multi-signature functionality. However, there is no option for users to enable two-factor authentication.