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November 18, 2024

Portkey to Discontinue Chat Services

With the launch of the new revamped Portkey app in November, all in-app chat services will be permanently discontinued and will no longer be available to our users.

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Portkey is set to launch its fully revamped app, Portkey V2, by 23rd November (this date is an estimate and may be subject to change). With Portkey’s revamped app, chat services will be permanently discontinued to align with the app’s new user interface and enhanced user experience.

In Portkey V2, all features related to chat will no longer be available. This includes chatting with fellow users, messaging in group chats, creating new group chats, sending crypto boxes, tracking crypto box progress, and initiating direct transfers within chats.

Once Portkey V2 is released, you will be prompted to update the app. Please note that once the app is updated to Portkey V2, all chat records will be deleted and will not be available to you. To save your chat history or related records, we recommend copying messages or taking screenshots prior to updating.

If you have any pending crypto boxes, please claim them before 23rd November as this feature will not be available in Portkey V2. Assets in unclaimed boxes will automatically return to the sender upon expiration.

Get ready for an exciting new chapter with Portkey V2 as we bid farewell to chat services and welcome a refreshed experience!

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Portkey@2024
WalletWhy It Stands OutSupported Assets
Coinbase- Publicly-listed on the Nasdaq stock exchange- Holds your assets in a 1:1 ratio and does not repurpose them200+ cryptocurrencies, including BTC, ETH, XRP, and SOL
OKX- Supports 300+ cryptocurrencies and NFTs across multiple networks- Available as a mobile or desktop app, and browser extensionBTC, ETH, XRP, SOL, and 300+ more cryptocurrencies, along with NFTs on Ethereum, Solana, BASE, and more
Crypto.com App- Rewarding if you hold and build a cryptocurrency portfolio over time- Nifty features like Crypto Earn and Recurring Buy help you grow your holding easilyMore than 350 cryptocurrencies, including BTC, ETH, XRP, and SOL
Trust Wallet- Very wide range of assets- Available as a mobile app and browser extensionOver 10 million cryptocurrencies and 600 million NFTs from Bitcoin, Ethereum, Solana, Cosmos, and more
MetaMask- Can be used to complement your main Web3 wallet- Perfect for ownership of Ethereum-based tokens and NFTsAny asset on the Ethereum blockchain
Exodus- Over 100,000 cryptocurrencies supported- Buy any of them within the Exodus walletMore than 100,000 cryptocurrencies and NFTs across 16 blockchains
Ledger Stax- 5,500+ cryptocurrencies and NFTs supported- Certified Secure Element chip to shield it from online attacks5,500+ cryptocurrencies and NFTs
Trezor Safe 5- A compact device at 23g with a 1.54-inch touchscreen- Supports over 1,000 cryptocurrencies, and has a CC EAL6+-certified chipOver 1,000 cryptocurrencies, including BTC, ETH, XRP, and SOL
SafePal S1 Pro- Slim and sleek, with a 1.3-inch colour screen to show your holdings- Can be paired with the SafePal Wallet app and browser extension to grow your portfolio30,000 cryptocurrencies and more across 100+ blockchains
ZKPsMultisig WalletsTEE
StrengthsZKPs provide wallet owners with security and privacy at one goMultisig wallets are hassle-free and secure; easy to implement for any group or organisationTEEs allow Web3 wallets to achieve a similar level of security as hardware wallets
WeaknessesTransacting parties need to interact multiple times. It’s not ideal for non-real-time applications.Transaction costs are higher due to the multiple signatures – and gas fees – needed. Transaction speeds are lower too.Cannot be easily implemented for software-based Web3 wallets as it is operating system-dependent
Wallet TypeHardware WalletBrowser ExtensionMobile App Wallet
Pros- Offers the best security for Web3 digital assets- Many brands and models to choose from- You can conveniently add it to your web browser- It doesn’t take up much storage space on your PC- You can access your assets from anywhere- You can easily transfer assets between apps
Cons- You risk losing your assets when you lose the device- The cost can be prohibitive for some- Susceptible to security breaches if your browser is compromised- Functionality may be limited for some- Vulnerable to similar security breaches as browser extension wallets- You also bear the same risk of losing your assets if you lose your mobile device
Web2 PhishingWeb3 Phishing
MethodPurely reliant on offline or Web2 platforms. For example, phone calls, SMSes, publishing fake websites, etc.Utilises a mix of Web2 and Web3 platforms. For example, hackers impersonating a key opinion leader or deploying malicious smart contracts.
PurposeTo steal cash, personal information, and sensitive data.To steal digital assets and sensitive data, and control Web3 projects.
ProsCons
MPC wallets are incredibly safe thanks to their novel security mechanism.There are relatively fewer MPC wallet solutions available, as compared to multisig wallets.
MPC wallets provide you with more flexibility in managing your assets, especially if it’s a wallet for institutions or investment groups.MPC wallets appear easy to use on the outset, but they still require a level of technical expertise and cryptography knowledge.
MPC wallets greatly reduce the risk of a single point of failure.MPC wallets can take slightly longer to execute transactions because its security mechanism is fairly resource-intensive.
MPC wallets are highly decentralised, adhering to cryptocurrency’s core principles.You’d still need to manage each private key fragment carefully. After all, each one is crucial to forming the full key.