Kraken, the cryptocurrency exchange, has introduced a self-storage digital asset wallet of their own. This move mimics the actions of other major exchanges such as Binance, OKX, Coinbase, Bitget, and Bybit.
Regardless of whether you’re a Kraken customer or not, you can utilize the multichain Kraken Wallet as your connection to the decentralized financial marketplace. At present, Kraken Wallet accommodates assets from eight distinct blockchains: Bitcoin (BTC), Ether (ETH), Solana (SOL), Optimism, Base, Arbitrum, Polygon, and Dogecoin (DOGE).
According to wallet developers, the app gathers only the essential data needed to operate effectively as a digital wallet. No internal app analytics for performance enhancement are gathered either.
“User activity is proxied through Kraken’s own infrastructure, shielding your IP address and preventing your identity and location information from potential external exposure.”
To ensure safety, this wallet incorporates mobile biometrics and personal user passwords. Additionally, the wallet’s code underwent an audit by Trail of Bits for added security. The application’s source code can be found and examined on GitHub for transparency.
In terms of functionality, Kraken Wallet enables the use of Decentralized Finance (DeFi) tokens, Non-Fungible Tokens (NFTs), and connects to decentralized apps (dApps) via Wallet Connect. Additionally, customers can reach out to our support team anytime, anywhere for assistance.
Eric Kuhn, Kraken Wallet’s product director, expressed that investing in your own keys and crypto ecosystem, essential for permissionless financial access, is what Kraken Wallet represents.
People are turning more and more to self-custody digital wallets as regulators crack down on exchanges’ operations around the world.
Beginning on April 11, Kraken notified its clients in Ireland and Belgium that they would no longer be able to use Monero’s privacy token. Previously, in October of the previous year, Kraken had halted the usage of Tether (USDT) and DAI for clients residing in Canada.
In several legal systems, personal crypto wallets aren’t regulated in the same way as platforms like exchanges because they don’t directly handle fiat currency transactions.
Starting March 19, the European Parliament abolished the 1,000 euro ($1,080) cap on cryptocurrency transactions from personal crypto wallets under the latest Anti-Money Laundering regulations.
On March 28th, U.S. District Judge Katherine Failla determined that Coinbase Wallet did not qualify as a broker and, consequently, was exempt from SEC-mandated brokerage regulations.
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2024-04-17 21:15