SWIPE Seeks Crypto Custody With To Improve Cybersecurity

SWIPE Seeks Crypto Custody With To Improve Cybersecurity

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It is a fact that crypto security has been one of the most challenging problems in the cryptocurrency market.

Exchanges and other crypto stakeholders are constantly looking for ways to improve the payment system to make it more secure.

Today, most crypto accounts have protections via private keys, usually operated by cryptocurrency exchanges and wallets.

But there is always a risk with this approach, as some account holders mat forget or displace their keys.

As a result, exchanges are now seeking a more secure way to keep investor’s funds to avoid the risk of fraudulent activities and theft.

In line with this, a crypto wallet system, Swipe, has announced that it’s partnering with coinbase to provide the needed security for its clients.

It reiterated that the investors and traders should be confident that their digital assets are secure with Coinbase.

The partnership will keep the investors’ funds secured in coinbase custody henceforth.

Benefits for users

As a licensed third-party custodian, Coinbase will provide a safer way for users to keep their funds. The company is under New York State’s banking laws.

According to Swipe, the custodian is an institutional-grade storage system Coinbase has been operating since 2012.   With this development, the company has assured users that their investments and funds with them are safe.

The firm also mentioned that the Custody solution by Coinbase has been providing crypto security for users from other wallets.

It works like the conventional custodian service held, monitored, and audited in the same fashion as the conventional custodians.

Today, there is no solution yet to reverse fraudulent transfers on user accounts from hackers. The situation makes crypto vulnerable to these attacks.

But investors are seeking companies with a solid reputation that can ensure their crypto funds through cold storage.

That’s the main point of partnering with Coinbase to provide this insurance, according to SWIPE.

With the storage of investors’ digital assets in Coinbase custody, there will be better fund security and long-term asset stability within the industry.

SWIPE has also noted that it is going to use coinbase for its swift –crypto-to-fiat conversations.

Irrespective of the type of transaction (whether swipe wallet or swipe card application, the transaction shall be possible.

It will enable users to easily make transactions in more than 40locations in the world with over 20 supported crypto coins.

Investors are already looking forward to this partnership. They will always appreciate whatever safer means possible to keep their crypto investment safe and secured.

These developments in the industry will make crypto transactions less stressful.  The crypto market will attract more investors if crypto users can spend their tokens at any time and anywhere in the world.

Already users can download the SWIPE digital wallet on both Google Play and App store.

According to the company, users can freely purchase, sell, or pay with their crypto tokens between all assets it supports.

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About Ali Raza

A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

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