CoolBitX Hybrid Crypto Hardware Wallet CoolWallet S Partners with Binance DEX
Almost a month after launching Binance Chain Mainnet and Binance DEX, Binance is yet again hitting the headlines in the world of crypto. The global cryptocurrency exchange supporting over 100 coins has just partnered with CoolBitX.
CoolBitX Technology Limited, a Taiwanese cryptocurrency hardware manufacturer, will partner with Binance’s Blockchain software platform, Binance Chain. The integration will make it easy for the exchange platform’s upcoming Binance DEX to seamlessly move digital assets to and from CoolBitX’s CoolWallet S.
Basically, the partnership will allow users of Binance DEX to conveniently move their cryptocurrencies back and forth using the hybrid hardware wallet. CoolWallet S or CWS is a small credit card-size hardware wallet developed by CoolBitX for holders of a variety of coins, including ERC20 Tokens.
Released in 2018, this wallet can safely store BTC, ETH, LTC, XRP, BCH and ZEN, besides all ERC-20 tokens, and allow them to withdraw via a decentralized exchange.
Considering that Binance DEX has no central custody of the digital assets, it rightly provides its users with absolute control over their digital assets as well as their private keys. It ideally supplements the security offered by CoolBitX’s hardware wallet. The whole arrangement makes it safe and secure for a wallet holder to withdraw or exchange cryptocurrencies on the exchange.
However, much as CWS is there to sign every transaction and subsequently lessen the end-to-end risks faced when using the exchange, regular desktop browsers have a critical use. They can conveniently initiate a transaction.
CEOs of the two companies had their say
The CEO of CoolBitX spoke highly of Binance. Terming it the leading cryptocurrency exchange in the globe, Michael Ou said that they were excited to be part of Binance DEX. He said that their partnership would highly benefit all those holding their CoolWallet S wallet by enabling them to transfer their assets to and from the exchange with ease.
Binance’s CEO, Changpeng Zhao, also praised CoolBitX, saying that their combination would benefit the large Binance DEX community.
CoolBitX which believes that the global decentralized exchanges will offer a right blend of security, freedom and user-friendliness is there to make the community more responsible for their assets. And as Zhao said, the two will help increase the adoption of cryptos across the world.