• Which wallet to choose for cryptocurrencies and Bitcoin: online, cold, hardware. Multi-currency cryptocurrency wallets

    Why is it needed? multicurrency wallet?

    Altcoins are gaining significant popularity. This is evidenced by the growth rate of altcoin market capitalization, which has long surpassed that of Bitcoin. This is reflected in the steadily declining dominance index of the first cryptocurrency. There are a huge number of altcoins, and the capitalization of some of them has already exceeded $1 billion. Many altcoins are interesting not only because of the technology and the idea that underlies it, but also represent attractive objects for portfolio investment. Arises logical question— where is the best place to store various digital assets?

    Why is a separate wallet for each altcoin inconvenient?

    Some users install a separate wallet for each cryptocurrency (for example, Electrum-Dash or). This approach undoubtedly provides a secure way to store digital currencies, since each of these wallets gives the ability to control the private key. If the latter is stored in a secure place (for example, written down on paper and/or saved to a flash device that is always offline), then you can be 100% confident in the safety of your digital savings. However, this method has some disadvantages. Firstly, many separate wallets are inconvenient. Secondly, for each of them it is necessary to save a unique key seed phrase (which will be the private key). There are as many digital currencies as there are unique phrases. If you lose one of them, then all digital currency from the corresponding wallet will be lost.

    Why shouldn't you store large sums on exchanges?

    Many crypto enthusiasts prefer to store altcoins on exchanges. This is very convenient, since modern trading platforms support dozens and even hundreds of different altcoins. However, this approach has many significant drawbacks, since the user has to trust the funds to a third party. Most crypto exchanges are centralized, completely uninsured from, and are also regularly exposed to. All this jeopardizes the safety of funds. Therefore, users who do not trade large volumes on crypto exchanges should consider other options for long-term storage of crypto assets, which provide control over the private key and, accordingly, full control over digital assets.

    Online wallets

    As with exchanges, this option is difficult to call reliable, since it also involves control of funds by a third party. On the other hand, online wallets often support many popular cryptocurrencies and even allow transactions with low fees. However, this is probably where the advantages of this method of storing altcoins end. Among the many online wallets for digital currencies, one can highlight the Kryptonator service, popular in the Russian-speaking segment of the network, or, for example, HolyTransaction.

    Mobile wallets

    With the increase in the number of smartphones, there are also many various services mobile wallets for both Android and iOS. Many online cryptocurrency services also have a mobile version (for example, the aforementioned Cryptonator). Some mobile wallets are highly reliable (as they allow you to save your seed phrase) and have an intuitive interface. Such applications include, for example, mobile wallet Coinomi. Latest version wallet offers to save key phrase the first time you launch the application. Coinomi integrates the popular ShapeShift exchanger and currently supports about 60 altcoins.

    Crypto wallets as browser extensions

    In this segment, Jaxx has gained significant popularity, existing in the form of extensions for Chrome browsers and Firefox. This wallet is easy to use, minimalistic in design, and flexible in settings. However, most importantly, it gives you control over the private key in the form of a seed phrase. The project team is constantly adding support for new altcoins. For each digital currency supported by the wallet, there is no need to export and save the private key - it is enough to backup only one seed phrase consisting of 12 words. Using this phrase, you can instantly restore all wallets, as well as the balances on them.

    Desktop wallets

    A good tool for storing crypto assets are multi-currency wallets installed on your computer. Among them we can highlight Exodus, which features an intuitive and beautiful interface, control over private keys, a built-in ShapeShift exchange platform and support for many altcoins. As for the Jaxx wallet, it also has a desktop version available for Windows, OS X and Linux.

    Hardware wallets

    This type of crypto wallet can be considered the most reliable, since such devices provide maximum secure, “cold storage” of digital assets in a protected, isolated environment. This is probably best way for long-term storage of significant amounts of funds. The hardware crypto wallet has a securely built-in private key, which is used to sign transactions. Among the most popular wallets of this type are , and . Each of them supports several of the most popular altcoins, including ETH, LTC, DASH, etc.

    Required for using cryptocurrency and making transactions. There are individual wallets, as well as those that combine several. Wallets differ in functionality, design, ease of use and security protocols. In this article we will try to choose the best wallet for cryptocurrency.

    Some wallets can carry out exchange transactions between and also for fiat money. We present to your attention a rating of wallets for cryptocurrencies.

    Wallet for cryptocurrencies Blockchain

    Blockchain cryptocurrency wallet

    One of the very first and most reliable is a multi-currency wallet for cryptocurrency. It was developed by the company and has more than 2 million active worldwide users. Security is provided via SMS code and 2FA. Information is stored on the developers' server and is encrypted. So, how to create a cryptocurrency wallet?

    Creating an online wallet:

    • We go to the blockchain.info service website and go to the “Wallet” section.
    • Click on the “Create A Free Bitcoin Wallet” or “Create a Wallet” button.
    • Fill out the fields of the standard registration form (you will need to provide an e-mail and password).
    • Don’t forget to check the “I have read and agree to the Terms of Service” checkbox and click on the “Continue” button.
    • You will receive an email from the service; confirm the creation of your wallet by clicking on the link. This will be your first login to the blockchain wallet.

    Cryptonator online cryptocurrency wallet

    Another recognized service for exchanging and withdrawing funds. The Russian development of the wallet allows you to include rubles in the list of fiat money exchanges. Security is supported by two-factor authentication and encryption using the SHA-256 cryptographic algorithm. There is an application for smartphones. Among the negative aspects, one can note the lack of software for desktop operating systems.

    HolyTransaction online cryptocurrency wallet

    Cryptocurrency wallet HolyTransaction

    It occupies a leading position in convenience and reliability among. It allows you to store and carry out transactions with nine cryptocurrencies. Security is supported by two-factor authentication. The cost of commissions is minimal. The disadvantages include the lack of applications for smartphones.

    Jaxx cryptocurrency wallet

    This wallet can be installed on Windows, MacOS and Linux. It has a built-in exchanger and it is possible to change different cryptocurrencies and not visit. But this is one of the few wallets that is a program and has wide functionality and a beautiful design.

    Electrum cold wallet for cryptocurrency

    Electrum cryptocurrency wallet

    To use this wallet, you need to download the program from electrum.org, “Download Electrum” tab. Next, install it on your computer and start using it. This wallet can be useful for entrepreneurs if they decide to accept cryptocurrency. The functionality is good enough and you can carry out any transaction.

    Conclusion

    All wallets can perform the most important function– use of cryptocurrency and making transfers. All wallets can accept and send cryptocurrencies, but differ markedly in functions and fees for transactions between users.


    An electronic wallet for cryptocurrency is an analogue of an electronic wallet that is used to store non-cryptocurrency electronic money, and cryptocurrencies (Iota, Etherium, Bitcoin, etc.). The user's personal account displays the balance. The system allows not only storage, but also exchange and transfer of cryptocurrency at any time convenient for the owner. Upon registration, the wallet creator is given a unique security code, which must be used to log in.

    To create e-wallet for cryptocurrency with exchange for rubles, you need to decide on the system and go through simple procedure registration. As a rule, this is not particularly difficult, since all services have similar interfaces, which allows you to connect on an intuitive level. Please note that the received password should be stored in encrypted form on the same device. This greatly simplifies the process of using crypto.

    Before registering, you must download the application to your device and install it. Next you need to go through a simple registration:

    1. Go to the “Registration” tab.
    2. Provide personal information, a valid e-mail and password.
    3. Enter the code sent by email for confirmation.
    4. Log in to the system using your username and password.

    To generate a password, you should use special generator services. This allows you to create a unique set of characters, which eliminates the possibility of your wallet being hacked and money being stolen from your account.

    Electronic wallet for cryptocurrency: which one is better to choose

    There are several wallets that are classified according to where they are hosted. They have significant differences in function.

    The most reliable are desktop wallets, which are designed to be installed on a PC desktop. Through such systems it is possible to exercise complete control over your own savings.

    To choose the best and most reliable e-wallet, you should give preference only to well-known services that are very popular and have positive reviews users. There is no need to try unknown services that do not inspire confidence. It is recommended to download programs only from official sources, so as not to encounter scammers and not lose your savings.

    Best eWallets for Cryptocurrency

    Among the most popular options included in the rating are:

    • BitcoinCore.
    • Bitcoin Knots.
    • ArcBit.
    • Copay.
    • Multibit.
    • GreenAddress.
    • mSIGNA.

    Among the most simple versions Multibit and BitGo should be highlighted. They have a simplified interface and are suitable for inexperienced users because they are easy to use. It should be noted that this option is not secure enough because it requires the transfer of information to a third party.

    Among full versions can be noted Bitcoin Core and Armory. They are more reliable and when using them, you need to download complete block chains, which takes up approximately 10 GB. Such wallets need to be constantly updated and do not work without a network connection.

    Create an electronic wallet for cryptocurrency and mobile phone. Smartphone applications, distinguished by the platform on which they are installed:

    1. Android – Electrum, Coin.Space and GreenAddress.
    2. iOS – Arc Bit, Bitcoin Wallet and Copay.
    3. Black Berry – Bitcoin Wallet.
    4. Windows Phone – Coin.Space, Copay.

    Upon registration, each user is given a private key, which is stored on the smartphone in encrypted form using special program- data encryptor. This makes it possible to quickly make payments, which is quite convenient and appeals to most users. The only downside to using mobile version applications – the inability to download the entire circuit block, since the memory on the devices is sometimes insufficient.

    Purchasing and storing cryptocurrency in an electronic wallet

    The best electronic wallet for withdrawing cryptocurrency is a “cold” one, i.e. one that can be stored on another medium that is not connected to the network. This eliminates the possibility of hacks. “Hot” systems are recommended to be used for small amounts in order to make money transfers and transactions.

    Among the most famous “hot” electronic options for cryptocurrency are: Xapo, Coin, Circle and Blockchain Coinbace. Private keys in in this case are generated online and stored, as a rule, on special servers or in storage facilities in the form of separate cells. Many users use hot wallets on multiple devices simultaneously.

    Among the main disadvantages of the “hot” versions, we should highlight the ability of third-party resources, acting as storage, to gain access to the wallet itself. This poses a serious threat to the security of your personal account in the event of cyber attacks or malfunctions of the client site being used.

    To store cryptocurrencies, it is best to start a “cold” hardware device. Today you can buy it for a relatively small amount. Among the most popular are the following:

    • Trezor.
    • DigitalBitBox.
    • Ledger Nano.
    • Keep Key.

    This type of cryptocurrency wallets looks like small storage systems and is used for long-term storage. In most cases they contain more quantity assets. It is best to choose options that are designed to use not one, but several cryptocurrencies at once. This will allow you to save a lot of money.

    Advantages of Hardware Wallets

    Reliable “cold” storage is only possible on hardware wallets made in the format of a USB drive. To access personal account, just connect the device to your smartphone or desktop computer. A unique key required to complete financial transactions, built into the device. That is why it is not hackable. Please note that hardware wallets are protected not just by a password, but by a randomly generated expression.

    Before you create a cryptocurrency wallet, you should familiarize yourself with all the options available to make right choice. It is best to use options in Russian, and those that will work with the exchange where you can buy the desired crypto.

    Lifehacker learned everything about cryptocurrency wallets: how they differ, how to choose a reliable and convenient wallet and which ones experts recommend.

    What is a cryptocurrency wallet?

    At its core, it is a program that stores private and public keys, and also interacts with various blockchains (block chains). That is, it is stored in the wallet in the form of transaction records.

    A wallet is needed to store, exchange and conduct transactions with digital currencies.

    How is a cryptocurrency wallet replenished?

    The sender transfers ownership of the crypto coins to you. To access them, the private key stored in your wallet must match the public key to which the digital currency is linked. After this happens, a record appears on the blockchain that the transaction has been completed.

    What types of cryptocurrency wallets are there?

    Software

    1. For desktop devices

    This is a program that can be downloaded to a desktop computer or laptop. The wallet can only be accessed from the device where it is installed.

    Desktop wallets come in “thin” and “thick” varieties. The first ones involve downloading only the program for the wallet to work, and information about transactions is stored on another server. In the case of the latter, both the program and the blockchain are downloaded to the computer.

    2. For mobile devices

    The way they work is the same as that of PC wallets, except that you can always carry a smartphone or tablet with you. They are considered quite vulnerable: they are often hacked.

    3. Online wallets

    They work in the cloud or on certain web resources (for example, cryptocurrency exchanges), and are accessible from any device connected to the Internet.

    Hardware

    These are cryptocurrency wallets where transactions are made online, but private keys are stored on physical media(for example, on a flash drive). Using them is simple: you need to connect the storage medium to a computer with Internet access, enter a PIN code and perform the necessary actions.

    Paper

    They are considered the most protected. They are generated using a special program. Private and public keys are printed on paper - in the form of a QR code or a set of numbers and letters. In order to perform any manipulations with the wallet, you need to scan the code or enter the keys yourself.

    Cryptocurrency wallets are also divided into:

    • Multi-currency and supports transactions with only one digital currency.
    • “Hot” (online wallets that make it possible to quickly make transactions) and “cold” (offline wallets).

    How to choose a suitable cryptocurrency wallet?

    Artyom Deev

    Leading analyst at AMarkets.

    It all depends on what goal the crypto investor is pursuing. If we are talking exclusively about safe storage, then software and hardware wallets are suitable. Hardware wallets are more secure because they are not subject to the risks of hacking and viruses. Among them are Ledger Wallet and Trezor. Also, Cryptonator and Blockchain enjoy the greatest trust from investors. These wallets allow you to securely store funds, but you cannot quickly manage them.

    For those for whom it is important to quickly and mobilely manage their existing cryptocurrency, wallets on popular crypto exchanges such as Bittrex and Coinbase are suitable. The main advantage of such storage is the ability to work with dozens of crypto instruments with just one account. Exchanges make it possible to transfer, change, buy and sell any cryptocurrency at any time of the day.


    Sergey Alexandrovich

    First of all, you should pay attention to safety. Do not forget that this is a fairly young financial market, and many do not have sufficient knowledge to save their funds.

    Last year, hackers stole more than $1.2 billion in the cryptocurrency market. Therefore, if you have any significant amount of cryptocurrency, take care first of all about its safety.

    A little theory using Bitcoin as an example. Each Bitcoin wallet has two keys - private and public. The first one is stored only by the owner; it is necessary to confirm ownership of the wallet and conduct transactions. The second key - the public one - is essentially an address to which other users can transfer cryptocurrency. Thus, special attention should be paid to the safety of the first key.

    There is only one way to restore a private key if it is lost - using a seed phrase. This is a combination of 12 words (in some cases 18 or 24) that are given to the user when creating a wallet. They are advised to remember or write down and store them in a safe place: for example, in case you lose the device on which you stored the cryptocurrency.

    Some applications and services store the private key in encrypted form on their servers, others store the private key on your device. A private key can be created and stored even offline, without an Internet connection. You can read the instructions on how to create a paper wallet. When handled properly, it is, in fact, one of the most safe ways storage of cryptocurrencies.

    When choosing cryptocurrency wallet You need to pay attention to the following points.

    • Anonymity during verification. Everyone has their own requirements for identity documents.
    • Reliable protection against hacking, data safety.
    • Convenience and functionality of use. At this point I pay attention to the speed of operations and user-friendly interface.
    • Multicurrency.

    Top 5 cryptocurrency wallets, according to experts


    Sergey Alexandrovich

    Community representative t.me/DeCenter.

    1. Trezor

    One of the market leaders, a secure hardware wallet with a friendly interface. The private key is generated inside a special device, the data on which is encrypted. The only downside to this wallet is the price, so it is usually only recommended for professionals or those with significant savings. Works with Bitcoin, Litecoin, DASH, Zcash, Bitcoin Cash, Ethereum, Ethereum Classic and ERC20.

    2. Blockchain.info

    An excellent and very popular wallet with an emphasis on convenience. Private keys are stored on the wallet servers, which, on the one hand, makes it less secure, and on the other hand, increases ease of use. Regardless of the private key and seed phrase, you can log in at any time using your login and password, gaining access to your coins anywhere in the world.

    3.Bread Wallet

    The main difference from the previous wallet is increased security. In this case, the private keys to the wallet are stored directly on your device.

    1. Enjin Wallet

    Mobile wallet for Ethereum, Litcoin, Bitcoin, Enjin. Available for Android and iOS. Has smart user interface, which takes into account the specific needs of the client.

    The wallet uses a number of innovative developments to improve security, in particular - Enjin Secure Keyboard, the rule of two encryption and other features. Available in 31 languages.

    Enjin Wallet comes with a unique security keyboard that stores no history and leaves no traces or passwords, allowing you to maintain complete privacy account. The wallet does not require personal information to open an account, which guarantees complete anonymity.

    2. Trezor Wallet

    A Bitcoin wallet designed to help users store their cryptocurrency and transact in offline mode using a small display. That is why all operations using Trezor are completely safe.

    Interaction with the wallet through the web interface is intuitive. Trezor has the same functionality as most hardware wallets. You can view your transaction history, receive and send tokens, and send or verify a signed message. You can work with the wallet through the web browser interface, as well as using a number of third-party applications.

    3. Coinomi

    A mobile wallet designed to store several cryptocurrencies, including the most popular ones - Bitcoin and Ethereum. The wallet has an intuitive interface. The built-in sharing function makes it quick and easy to share trading operations through your wallet using an integrated currency exchange.

    The developers placed special emphasis on confidentiality of use. Supports various languages, including English, Russian and Chinese.

    Currently the wallet is only available for Android, but the developers have announced that a version for iOS and desktop computers running on Windows, macOS and Linux. Coinomi is completely free to use.

    4. Exodus

    A multi-currency wallet that has a simple and convenient user interface. The wallet is installed on your computer and is available for operating macOS systems, Linux and Windows.

    Exodus Wallet supports 15 major cryptocurrencies, making it very convenient to monitor their rates in relation to each other. The dollar equivalent is indicated under the name of each cryptocurrency.

    The wallet has one more useful function- internal conversion (function of exchanging cryptocurrencies inside the wallet). However, the service charges a commission for such operations.

    5.Trust Wallet

    Wallet for Ethereum cryptocurrency tokens and other Ethereum-based tokens. Designed for use on mobile devices, works on iOS and Android, and is open source.

    It is characterized by simple installation and accessible functionality, which does not require additional skills and abilities from the user. Trust Wallet allows you to purchase from exchanges directly through your wallet (though there are only three exchanges to choose from so far).

    A cryptocurrency wallet is software or a service that stores unique user keys for conducting financial transactions using the decentralized Blockchain network. Blockchain is a technology for storing and processing data on all cryptocurrency transactions.

    The concept of a crypto wallet differs from the usual place for storing money. Bitcoin and other electronic currencies do not have a physical form, they exist in the form of blocks of information.

    Each block is processed within 10 minutes and stored in chronological order, while transactions are available for monitoring in clear text. Therefore, for safety reasons, it is extremely important to use the most reliable crypto wallets, because they will contain private keys and be responsible for the transfer of funds.

    What happens when transferring cryptocurrency? If one user sends, for example, Bitcoin or part of it (Satoshi coins), then ownership of it passes to another person or organization. To spend coins, the private code must match the public one (the user’s coins are tied to it).

    After this, the recipient's score increases and the sender's score decreases. The data of a completed transaction when transferring currency is recorded in the blockchain, while no one transfers real money as such (they are usually called fiat).

    The appearance of many electronic assets on the market has led to the creation of convenient multi-currency wallets. They were appreciated by users working with different digital currencies. Currently, several types of software have been developed, each of which has its own methods of storing currencies and transactions with them.

    Online wallet

    It is convenient in that it can be logged in from any mobile device or computer with Internet access. Private and public keys stored in the data cloud. But since control is carried out by third parties, the likelihood of information theft or simple fraud on the part of the provider increases.

    You can also accumulate funds on the exchange, however, if it is closed, the user risks losing his savings. Wallets from the developers of a particular coin deserve special attention, for example, Ethereum Wallet, Litecoin Electrum, Dash Electrum Wallet, etc., their use is as reliable as possible due to their official nature.

    Local

    One of the most reliable solutions. You can manage currencies only using a device (usually the owner’s computer) on which the appropriate software is installed. The main risks are hacking or virus penetration.

    Application

    There is another variety - mobile applications for IOs or Android. They are installed on the gadget and can be used at any time. Typically, the functionality of such programs is simplified for ease of use.

    Hardware

    The most secure, all keys are stored not on the network, but on a separate medium. This could be a USB flash drive or a special device. Connects to a computer with a working Internet, enters a password and performs the necessary actions. When information is stored on physical media, the hardware resource is protected from the risks of password theft and hacking.

    Also, almost all systems have the ability to duplicate the storage of keys on paper by printing a code with access data. The owner can generate and print new codes each time for transactions. The process of withdrawing or depositing money using paper media is called “sweeping”. Data is entered manually or by scanning a QR code.

    Features of local programs

    Local programs for storing currency are downloaded from developer sites and installed on a personal computer. The first type is thin, it takes up less space on the hard drive, and operations are completed faster. Thick ones allow you to download the entire chain of transactions during synchronization with the blockchain. Standard menu local program contains four blocks and allows you to make the necessary settings:

    • The “tab system” provides transitions to “review”, “send”, “receive”.
    • “Work area” – fields for entering basic data and amounts for transferring and receiving funds.
    • The “status panel” reflects the synchronization process and allows you to select the balance currency.

    Information that is stored offline is less susceptible to theft and hacker attacks. These are so-called cold wallets. Online platforms are more vulnerable to scammers. Saving codes offline does not depend on the control of third parties, so the reliability of data storage is high.

    Update your software regularly mobile device or computer. This also applies to all antivirus applications.

    However, the software is constantly being improved, which allows you to choose the best crypto wallet with a high degree of security. Don't be afraid to store information in electronic form, it's convenient and affordable. But you should always remember that losing private keys has consequences. This essentially means that all the money is lost.

    Must be used additional protection information. This may be a password that must be complicated. Choose only reliable programs, study the top cryptocurrency wallets and choose the most convenient option, do not forget to set up several levels of protection (entering an access code for each transaction, two-factor authentication, multi-signature programs – Armory, Copay).

    Online services

    Online storage options are more suitable for new traders who do not yet have experience with thick and thin local software. The services are simple and convenient, but before registering, it is important to study the information about the resource and decide how much to deposit.

    It is recommended to store large amounts offline, periodically making transfers to an online wallet. During their existence, many electronic platforms have developed additional funds protection: SMS passwords, multi-signatures and even insurance for the “cold” storage of their clients’ money.

    To create an online wallet, no special software is required and free space on the computer disk. At the same time, in terms of their functions, they are not only not inferior to offline solutions, but also provide a wider range of opportunities: payment for services and goods, obtaining the history of monetary transactions on email or SMS.

    According to storage methods, they are divided into hybrid and traditional. The first ones involve separate storage of information about codes and the use of multi-signature. They are considered the most reliable, since access to coins is carried out only after the signature of the owner and the service. In the second case, all passwords are stored on the service, and only their backup copies are available to the owner.

    Choosing the best wallet

    First you need to decide on the goals of its creation and the features of its use in the future. Which cryptocurrency wallet is better? Much depends on whether it will be used for transfers or savings, what currencies will be purchased, where access will be made (from personal computer or mobile applications).

    The process of choosing software to save money must be approached with all responsibility. Our rating of crypto wallets presents only proven services that have been assessed according to the main criteria of convenience and reliability, each indicator varies from 1 to 10 points.

    Criteria for evaluating the best crypto wallets

    Convenience and functionality – we take into account the speed of operations, errors and freezes

    List of assets, commissions - assessing multi-currency, terms of use

    Safety, reliability – we pay attention to protection systems, service history

    The financial world is full of scammers. Cryptocurrency instruments did not escape this fate either. In order not to fall for the tricks of unscrupulous sites, you need to know the basic schemes of deception.

    An equally common method of fraud is burglary and key theft. Before starting activities, it is necessary to determine the level of security at electronic platform, giving preference to programs that do not store your private key.

    Another important point– choice of exchange. Small companies can offer excellent working conditions, good reviews. However, it is still better to open a cryptocurrency wallet with withdrawal on the sites of large, reputable players. This removes the question of the strange pricing principle and unstable price fluctuations.

    Conclusion

    As you can see, the creation of an electronic valet is a necessary condition for trading Bitcoin or altcoins. The choice depends on many factors, including the reliability and security that offline wallets provide. However, online tools allow you to use your savings at any time. When choosing even a popular crypto wallet, it is important to first study the terms of cooperation and the company’s reputation.

    On our website you can find detailed information about the terms of provision, features and best offers By software products for cryptocurrency buyers. All data is conveniently collected in comparison table, making it easier to choose. Professionals and beginners will also be interested in information on how to make money on cryptocurrency in 2018. Save it to your bookmarks, and you will have access to the knowledge and experience of many specialists working in the market. You will be able to receive the most latest news, analytics, reviews, educational articles.

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