Kraken, a big name in cryptocurrency trading, just launched its very own wallet for keeping your digital assets safe. It’s like what other big exchanges such as Binance, OKX, Coinbase, Bitget, and Bybit have been doing with their self-custody solutions.
| Aspect | Details |
|---|---|
| Supported Assets | Coins, Tokens, NFTs, DeFi assets |
| Supported Blockchains | Bitcoin, Ethereum, Solana, Optimism, Base, Arbitrum, Polygon, Dogecoin |
| Security Features | – Mobile biometrics – User password protection – No internal app performance analytics – User activity routed through Kraken’s infrastructure – Code auditing by Trail of Bits – Transparency via public availability on GitHub |
| Functional Features | Interaction with decentralized applications through Wallet Connect – “24/7/365” customer support |
What makes Kraken Wallet stand out is its ability to handle a wide range of assets, from regular coins to special tokens and even NFTs and DeFi assets. This shows how Kraken is committed to meeting the needs of all kinds of users in the crypto world.
Kraken wants everyone to be part of the decentralized financial system, not just its clients. So, the Kraken Wallet is open to anyone who wants to get involved. This openness makes it a great choice for Kraken regulars and newcomers who wish to explore decentralized finance.
Right now, Kraken Wallet can handle assets from eight different blockchains, including big names like Bitcoin and Ethereum. This means users have access to a bunch of different assets all in one place, and they can easily move them around between platforms.
A big selling point for Kraken Wallet is how seriously it takes security. The app only collects the bare minimum of data it needs. It doesn’t track how users are using it internally. Plus, any user activity goes through Kraken’s own system; users’ IP addresses and personal info are kept safe from prying eyes.
Security Features of Kraken Crypto Wallet
- Mobile biometrics
- User password protection
- No internal app performance analytics
- User activity routed through Kraken’s infrastructure
- Code auditing by Trail of Bits
- Transparency via public availability on GitHub
Kraken Wallet is super functional, supporting a bunch of different assets like DeFi tokens and NFTs. It also lets users connect with decentralized apps through Wallet Connect, and they’re backed by “24/7/365” customer support, meaning help is always there when you need it.
Eric Kuhn, who heads up Kraken Wallet, talks about how important it is to have control over your digital assets. Kraken believes in this so much that they’ve built their wallet around it; giving users full control over their keys and their crypto. It’s all about making financial access more open and permissionless.
Self-custody wallets, like Kraken Wallet, are becoming a big thing in the cryptocurrency world. They give users more control over their assets, which is becoming increasingly important as regulations tighten up in different places. For example, Kraken had to stop supporting Monero in Ireland and Belgium because of new rules. And last year, they had to do the same for some stablecoins in Canada.
These wallets operate under different rules than exchanges because they don’t handle regular money transactions directly. This difference in regulation was highlighted when the European Parliament changed its rules to allow bigger cryptocurrency payments from self-hosted wallets.
In the U.S., a judge ruled that Coinbase Wallet isn’t considered a brokerage, which means it’s not subject to the same rules as exchanges like Kraken. This shows how self-custody wallets are treated differently under the law.
In a nutshell, Kraken Wallet’s launch is a big deal in the world of self-custody solutions. With its support for lots of different assets, strong security, and focus on giving users control, it’s set to make decentralized finance more accessible to everyone.
