From now on, Bitget Wallet users will have access to the Bitget User Protection Fund.
After a strategic acquisition by crypto exchange Bitget for $30 million, renowned cross-chain wallet BitKeep has adopted a fresh identity: Bitget Wallet.
The name shift unveiled on August 10th, comes hand-in-hand with the release of an innovative feature named Bitget Swap. The latter-mentioned feature claims to tap into liquidity from a staggering 100 decentralized exchanges (DEX) spanning 20 blockchain networks.
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A significant perk for Bitget Wallet users is shared access to the Bitget User Protection Fund. Valued at an impressive $360 million, this fund, made up of 6,500 Bitcoin (BTC), 120 million Tether (USDT), and 40 million USD Coin (USDC), acts as a financial cushion against potential security breaches.
It's worth noting the challenges BitKeep faced. In December, a malware-infected Android Package Kit (APK) led to significant financial setbacks, siphoning around $8 million from unsuspecting users. However, the firm displayed its commitment to its users by reimbursing the entire amount to the affected parties by March 29th.
Moka Han, Bitget Wallet's Chief Operating Officer, emphasized the platform's focus on user protection. Highlighting the meticulous security measures, Han stressed the "rigorous third-party security audits" conducted by industry leaders like SlowMist and CertiK before any cross-chain bridge is executed, ensuring ongoing surveillance post-launch.
Looking to the future, Han disclosed Bitget Wallet's recent incorporation of five reliable payment avenues, such as Simplex, MoonPay, and Alchemy Pay. These integrations grant users the convenience of buying cryptocurrencies directly within the wallet through various methods, including credit cards, Google Pay, and Apple Pay.
Bitget Wallet's rebranding marks a significant milestone in its journey. Boasting a user base of over 10 million, it's rapidly becoming a leading force in the Asia Pacific region, rivaling giants like MetaMask.
