Following FTX’s bankruptcy, SafePal, a distributed pocket firm supported by Binance that offers equipment, and add-on wallets, had claimed record levels of new customers. From November 11, the site has witnessed a 10x spike in traffic, and over the same time, SafePal’s web3 electronic wallets now have record-breaking sales. Binance also served as a financing round and the lead organizer for SafePal throughout 2018.
Investors of cryptocurrencies increasingly gravitated to non-custodial storage options during the past couple of weeks. Self-custody seems to be essential since this incident has been demonstrated. However, one alternative is SafePal, a distributed pocket company founded in early 2018 that focuses on safety and user satisfaction.
Veronica Wong, Founder of SafePal, stated, “The current FTX crisis offers imparted valuable knowledge on delegation and openness towards the sector. SafePal may develop as one of the main web3 portals for such a cryptocurrency majority as even more users recognize the significance of regaining absolute authority of their possessions.”
The emergence of new clients with SafePal is symbolic of a wider trend among bitcoin owners to seek non-custodial options that lower default risk. Over 7 million customers from more than 196 nations have benefited from the service within the past six months.
Clients can secure, maintain, exchange, and exchange cryptocurrency properties using the full SafePal portal for bitcoin wealth management. Including its equipment, operating systems, and internet plugin pocket business units, SafePal today serves over 7 million active users globally, speaking 15 languages and throughout 54 blockchain systems. Additionally, Binance Laboratories, the exploration division of Binance, funded it as the initial and sole device pocket company.