Kraken recently launched the Kraken Wallet, a distinctive product intended to grow cryptocurrency adoption levels. It is a self-contained system that allows users to send and receive payments through a more secure channel than other existing methods. This unique platform serves both sophisticated Kraken users and those who have just started their journey in digital asset management, helping them simplify asset management and monitoring.
Kraken Wallet is a multidimensional platform that bridges the blockchain network with the De-fi world. Its commitment is to protect users’ privacy and security. This platform will enable users to be entirely in charge of their digital assets and save them in an on-chain environment. The user-friendly interface ensures efficient navigation and is combined with a robust security system that makes the exchange an appealing choice for many traders.
With its user-friendly interface and eliminating the complexity of network switching or seed phrase management, the wallet serves as a one-stop solution for the custody of digital assets. Users can monitor their tokens, NFTs, and DeFi positions on eight major blockchains, including Bitcoin, Ethereum, and Solana. Besides, the WalletConnect integration enables private access to a huge set of dApps, consequently empowering users’ involvement with the broad crypto universe.
Kraken Wallet safeguards user privacy by only collecting essential data for operation and not keeping any internal app performance details. The architecture additionally uses Kraken’s infrastructure as a proxy to prevent the disclosure of users’ IP address dangers of the outer world and protect their identities and location information.
Security plays a fundamental role for Kraken Wallet, which was developed in partnership with Kraken’s security team and has a track record of protecting the platform’s assets for more than ten years. The wallet also has multiple protection measures to secure your private keys, which are built into your smartphone, such as password encryption and biometric authentication.
Transparency and community are basic aspects of cryptocurrency. Hence, Kraken Wallet was released as open-source software. We recently launched the first open-source exchange wallet. This means that other parties will inspect every line of code, boosting security and reliability. This dedication to open-source development reflects Kraken’s belief in the fundamental ideals of cryptocurrency: transparency, decentralization, and community involvement.
This open-source support from Kraken exchange is also part of the broader initiative to contribute to the infrastructure that helps the crypto community grow. Through the launch of Kraken Wallet, not only users under the company’s umbrella but also vibrant developers and crypto enthusiasts who are equally dedicated to technology advancement are being supported.
Launching Kraken Wallet is the first of many steps in a path that extends beyond optimization and discovering the limits of crypto. Kraken stays true to its cypherpunk spirit and relentlessly contributes to developing crypto initiatives that will give the power back to the people and break the monopoly of traditional financial systems.
By using Kraken Wallet, the user immediately connects with the on-chain future. This step benefits the users and aligns with Kraken’s objective of making the ecosystem more favorable to crypto investors.