As per the latest reports, Binance DEX and CoolWallet S, a hardware wallet for digital currency, have announced an integration between them. Notably, CoolBitX was excited to announce its integration with Binance Chain and Binance DEX. Thanks to this integration, the users of Binance DEX will be able to seamlessly transfer their digital assets to and from the one-of-a-kind CoolWallet S.
— CryptoNinjas (@crypto_ninjas) April 29, 2019
It must be taken into consideration that CoolWallet S, with its compactly designed size of a credit card, is the first ever hardware wallet of its kind in the world. The wallet lets users receive, send as well as store multiple digital currencies such as Ethereum, Bitcoin, XRP, Horizen, ERC-20 tokens, Bitcoin Cash, and Litecoin in a convenient and hassle-free way.
Now as the hardware wallet has integrated with Binance DEX, it will tremendously benefit the users of this hybrid wallet. Not only the decentralized exchange will offer them an increased level of security, but it will also provide a faster withdrawal and exchange of their digital assets.
As there is an absence of any central authority watching over the users’ funds on Binance DEX, it is only the users who will get complete control over both their private keys and assets. That perfectly complements the security features offered by the hardware wallet. To ensure there is a minimum security threat for the crypto exchange’s end-users, each transaction needs to be signed utilizing CoolWallet S while the initiation of the trade can still be done through desktop browsers.
Upon this new collaboration, Binance CEO Changpeng Zhao took to Twitter to express his opinions. His tweet read,
“The launch of Binance DEX will help to grow the ecosystem and further the adoption of cryptocurrency. We thank CoolBitX for their support and we are excited to offer more freedom of choice to the Binance DEX community.” – @cz_binance https://t.co/iL4EIOI4BO
— CoolWallet (@coolwallet) April 30, 2019
Michael Ou, CoolBitX’s CEO also shared his thoughts about their collaboration with Binance DEX. He felt this integration will prove to be extremely significant for the users of CoolWallet S because it will enable them to conduct the secure and seamless transfer of their digital currencies on the exchange platform as well as off it.
For those who are new to the world of crypto, Binance Chain is the blockchain built by Binance, one of the leading digital currency exchange companies in the global crypto market.
CoolWallet S, on the other hand, is the newest hybrid crypto hardware wallet invented by CoolBitX, a blockchain security firm based in Taiwan. CoolBitX is the same company that has created the first ever mobile hardware wallet which is dedicated to blockchain assets. Based in Taipei, the company was established in 2014 while CoolWallet S was introduced in 2018.