Best Wallet Raises $10.5M and Introduces Bitcoin Support in Major Security Upgrade
Best Wallet, a non-custodial, multi-chain crypto wallet, has successfully raised $10.5 million in a token presale, gaining attention as a robust alternative to MetaMask. The wallet supports asset management across over 60 blockchains and has recently implemented Bitcoin support in its latest upgrade (Version 2.5.1), alongside existing support for Ethereum, BNB Chain, and Polygon. This upgrade enhances security with Fireblocks’ technology and aims to address the increasing security concerns that have followed a significant hack on the Bybit exchange. By providing features like a built-in DEX aggregator, biometric verification, insurance, an ’Upcoming Tokens’ tool, and the native BEST token offering reduced fees and early access to new projects, Best Wallet positions itself as a comprehensive and secure solution. This development comes at a time when traders are pivoting towards decentralized solutions for enhanced safety and versatility in their crypto storage options.
Bullish
The introduction of Bitcoin support and the use of Fireblocks’ technology in Best Wallet’s latest upgrade has enhanced its security profile, making it a more attractive option for traders concerned about digital asset safety, particularly following the recent Bybit hack. Coupled with its successful $10.5 million presale, these developments suggest increasing trust and investment in decentralized and secure crypto storage solutions. This aligns with a market trend of moving away from centralized exchanges due to security concerns, potentially leading to increased adoption and usage of the wallet. These factors contribute to a bullish outlook as the enhanced security and added functionalities are likely to draw more users, positively impacting the market sentiment.