Bitski Taps Hardware Wallet Ledger To Make Web3 More Secure
Have you ever lost or had your account hacked in a cryptocurrency exchange or wallet? If you did, you know that the feeling is not the best. In 2019, a whopping $4.5 billion in cryptocurrencies were stolen by hackers, and given the often anonymous nature of blockchain transactions, it's often challenging to recover the stolen funds.
As the value of cryptocurrencies continues to surge, the demand for secure platforms and wallets to store them skyrocketed. This is precisely the problem that Bitski is trying to solve. An Ethereum-based blockchain wallet, Bitski, has announced that it has partnered with Ledger to provide hardware wallets and increase its platform's security.
Bitski and Ledger Partnership
Bitski, founded by Donnie Dinch in 2018, aims to provide a user-friendly experience for blockchain web3 applications that allows people to use blockchain services without the need to hold any cryptocurrency themselves. Now, the platform's over 100,000 active monthly users will have access to hardware wallets provided by Ledger. The move aims to provide users with the highest level of security possible on the platform.
On partnering with Ledger, Dinch stated: "As the leading hardware wallet provider, Ledger set the standard for hardware wallets in the industry. We are thrilled to be partnering with them and to provide our users with the best-in-class solution for safely managing their blockchain assets."
Benefits of Hardware Wallets
Hardware wallets are physical devices that store blockchain assets and private keys offline, away from potential security threats on software wallets or centralized exchanges. Due to their offline nature, hackers can't access hardware wallets remotely, making them one of the safest options for storing cryptocurrencies.
By empowering users with hardware wallets, Bitski is addressing the security issue that often plagues web3 platforms. The partnership with Ledger allows Bitski to provide hardware wallets and allow its users to store their funds outside of an online platform.
Quantifiable Examples
It's always important to back up a service provider's claims with quantifiable examples of the services provided. In this case, Bitski has proven to be leading a business model that caters to its customers' growing demands for cryptocurrency expertise and security. The wallet has already gained over 100,000 active monthly users, and its numbers are continually growing.
Furthermore, it's worth noting that the hardware wallet provider, Ledger, is the largest hardware wallet provider, having sold over 2 million devices worldwide. Securing cryptocurrency holdings with hardware wallets is becoming an increasing trend in the industry, and the partnership between Bitski and Ledger sets a significant milestone in the adoption of cryptocurrencies globally.
Conclusion
In conclusion, with many cryptocurrency exchange and wallet hacks happening almost daily, it's good to take all possible measures to enhance the safety of cryptocurrency assets. Bitski is providing wallet solutions with a user-friendly experience and is now backed by Ledger hardware wallets. The challenge of web3 platforms being hacked and users losing their investments is a critical roadblock to digital asset adoption, and this partnership could significantly help with the growth of cryptocurrency adoption.
Three key takeaways:
- At the heart of the partnership between Bitski and Ledger is increased security in storing cryptocurrencies with an offline hardware wallet.
- Hardware wallets are gaining international popularity and acceptance as cryptocurrency users seek security in the face of ongoing digital asset hacks.
- Bitski's business model is one to watch as the digital asset industry grows with over 100,000 active monthly users already on the platform.
Curated by Team Akash.Mittal.Blog
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