BitKeep Wallet Rebrands as Bitget Wallet Following Acquisition
The popular cross-chain wallet, BitKeep, has officially changed its name to Bitget Wallet after being acquired by a crypto exchange in a $30 million deal. The rebranding is accompanied by the introduction of a new feature called Bitget Swap, which allows users to perform cross-chain swaps and access liquidity from approximately 100 decentralized exchanges across 20 chains.
Enhanced Security Measures and User Protection
As part of the integration, Bitget Wallet users will now benefit from enhanced security measures and a $360 million Bitget User Protection Fund. This protective fund, composed of 6,500 Bitcoin (BTC), 120 million Tether (USDT), and 40 million USD Coin (USDC), aims to safeguard against security incidents. It was established by the exchange following the collapse of FTX, another crypto exchange, in November last year.
The BitKeep wallet previously experienced a security exploit, resulting in around $8 million in losses for users. However, the company has fully compensated affected users and has since implemented rigorous security audits by third-party firms like SlowMist and CertiK to ensure the safety of its cross-chain bridges.
Expanded Functionality and Payment Integration
In addition to the rebranding and enhanced security measures, Bitget Wallet has also integrated five stable payment channels into its platform. Users can now purchase cryptocurrencies within the wallet using credit cards, Google Pay, and Apple Pay through partners such as Banxa, Simplex, Alchemy Pay, MoonPay, and FaTPay. This integration offers users greater convenience and accessibility when it comes to buying and managing their digital assets.
Furthermore, Bitget Wallet has introduced a peer-to-peer marketplace with enforced security measures to protect both buyers and sellers. This feature allows users to trade cryptocurrencies directly within the wallet’s ecosystem.
Growing Popularity in the Asia Pacific Region
Bitget Wallet has rapidly gained popularity in the Asia Pacific region, amassing over 10 million users. This significant user base positions Bitget Wallet as a major player in the market, rivaling the likes of MetaMask. Other well-known cryptocurrency exchanges, including OKX, KuCoin, and Binance, have also ventured into the realm of self-custody wallets alongside their exchange operations.
Overall, the rebranding as Bitget Wallet marks an important milestone for the former BitKeep wallet. With enhanced security measures, the introduction of new features, and a rapidly growing user base, Bitget Wallet is poised to serve as a convenient, secure, and user-friendly platform for cryptocurrency enthusiasts.
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