The largest crypto collapse (FTX insolvency), this year saw record-breaking demand for non-custodial cryptocurrency wallets.
SafePal, a self custodial crypto management platform and wallet, has seen record sign-ups this week after the insolvency crisis at FTX. The crypto wallet provider announced Wednesday that user traffic to its site has increased more than 10x since November 11th, as users search for new solutions to crypto custodial companies.
Many crypto users were shocked to learn that FTX, once the third-largest cryptocurrency exchange, has declared bankruptcy. For safer storage of their coins, cryptocurrency users have moved their crypto assets to non-custodial solutions over the past two weeks. SafePal, a decentralized wallet platform that is built around security and user experience, has grown to be a popular choice among crypto holders.

“The industry has learned an important lesson about transparency and decentralization from the recent FTX incident,” Veronica Wong (SafePal CEO) stated.

SafePal also reported record sales of its web3 hardware wallet in November, which was also record. The increasing popularity of SafePal users shows that crypto users are increasingly choosing non-custodial wallets to centralized exchanges. Wong expects this trend to continue.

Wong said that SafePal will be one of the most important web3 gateways for crypto masses as more people realize how important it is to have full control over their assets.

SafePal was launched in 2018 with funding from Binance Labs (the venture arm of Binance), and has since grown to be a comprehensive crypto management platform that allows users to store, manage their crypto assets, trade them, and swap them. These non-custodial solutions reduce third-party risk and allow users to be fully in charge of their assets.
Given the recent downturn in the crypto market, SafePal’s numbers are exceptional. The platform has seen 7 million users in the past six months. This includes users from more than 200 countries using its hardware wallets and software wallets.
Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.

  

The largest crypto collapse (FTX insolvency), this year sees record-breaking demand for non custodial wallets. After the insolvency crisis of FTX, SafePal, a self custodial crypto management platform for wallets, has seen record sign-ups this week. The crypto wallet provider announced Wednesday that user traffic to its site has increased more than 10x since November 11. This is due to users looking for new solutions to crypto custodial companies. Many crypto users were shocked to hear that FTX, once the third-largest cryptocurrency exchange, has declared bankruptcy. For safer storage of their coins, cryptocurrency users have moved their crypto assets to non-custodial solutions over the past two weeks. SafePal, a decentralized wallet platform that is built around security and user experience, has grown to be a popular choice among crypto holders.
“The industry has learned an important lesson about transparency and decentralization from the recent FTX incident,” Veronica Wong (SafePal CEO) stated.
SafePal also reported record sales of its web3 hardware wallet in November, which was also record. The increasing popularity of SafePal users shows that crypto users are increasingly choosing non-custodial wallets to centralized exchanges. Wong expects this trend to continue.
Wong said that SafePal will be one of the most important web3 gateways for crypto masses as more people realize how important it is to have full control over their assets.
SafePal was launched in 2018 with funding from Binance Labs (the venture arm of Binance), and has since grown to be a comprehensive crypto management platform that allows users to store, manage their crypto assets, trade them, and swap them. These non-custodial solutions reduce third-party risk and allow users to take full control of their assets. Given the recent crypto market recession, SafePal’s numbers are exceptional. The platform has had more than 7 million users in the last six months. This includes users from more that 196 countries using its hardware wallets and software wallets. Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.