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Binance Acquires Trust Wallet- A Popular Mobile Crypto Wallet



Binance Acquires Trust Wallet- A Popular Mobile Crypto Wallet

Binance is considered the largest cryptocurrency exchange, has successfully acquired the most famous crypto wallet. This crypto wallet is popularly known as Ethereum and ERC20 mobile wallet, both these wallet are decentralized application wallets and has gained a huge reputation in recent years. They have a strong security feature and never allow leakage of any important or private data.

Binance was introduced in the year 2017. It soon raised its significance within six months and now has the capacity to process orders around 1.4 million per second. The main target of the platform is to provide a high execution speed with robust security in order to attract more and more customers as well as investors.

This step taken by Binance marks the first acquisition of this platform and also mark the significance of secure wallet technology for the crypto exchange.

Trust Wallet was launched in the year 2017, it is an open source mobile wallet that has the capability of storing almost 20,000 different Ethereum based tokens. These tokens provide robust security with an audited system which facilitates the customers to receive, send and even store digital assets.

Well, it is a full-fledged Web3 browser that helps the user to connect with the decentralized application directly from the app.

Binance Acquires Trust Wallet

Binance Acquires Trust Wallet

Both Binance and Trust Wallet compliment each other in a different way. Changpeng Zhao, the CEO of Binance commented that as in the Trust Wallet the personal keys are decentralized meaning they are stored on customers devices, this compliments the centralized architecture of Binance in a perfect manner. Hence the combination of both give us the wider scope and the users to have their choice.

Coming to Trust Wallet team they can avail benefit from the increased synergy from Binance in order to restore the autonomy and freedom to develop the core product.

The CEO of Trust Wallet, Viktor Radchenko tweeted that:
“It is an incredible opportunity for the Trust Wallet to work with the biggest and the most respected exchange in the world, but we also feel as though we are aligning with a partner that shares a similar approach towards security and user management.”

The collaboration between the duo will obviously prove to be a great success for both the platforms and the users as well.

In addition, Binance also launched its competition in order to celebrate the success of $1,000,000 worth of ETH transactions. Binance is giving a reward to the community titled ‘10,000 ETH Give Away’.

In order to be the part of this competition the applicant will have to send 1eth to the address and in return will get 10 back (multiple x10). Moreover, if sent more than 5, the applicant has the opportunity to receive a bonus to X20.

Let me tell you that the offer was launched at an official website of Binance on 30th July and is valid for 24 hours only. So, hurry up and win as many as you can. In order to get more information related to the competition, one can browse the official site of ETH and BTC.

Well, the sources have confirmed that more and more applicant are taking part. Binance has organized this competition as a token of love and appreciation for their customers.

Featured Image Courtesy Unsplash.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Rupali Sinha is a journalist at Koinalert. She covers the latest news and updates related to Blockchain technology and cryptocurrencies.