Trezor Integrates Faast to Facilitate Safe Cross-Chain Trading
Finally, it is possible to seamlessly swap between Bitcoin and altcoins within hardware crypto wallets such as Trezor. This is a result of the integration of the digital currency portfolio app, Faast.
The increase in the number of digital currency users has also spurred a proliferation of criminals targeting the crypto space. Since the turn of the year, a reported $1.3 billion worth of cryptocurrencies has been stolen. Consequently, there has been a massive shift towards hardware wallets as the preferred storage mechanism for digital wallets. This is because digital exchange wallets are more vulnerable as compared to their hardware counterparts.
Usually, hardware wallets are criticized for having a menacing functionality as well as deficient in trading features. However, the prevailing circumstances are likely to change this perception.
Faast And Trezor
Am mentioned earlier, Faast is a virtual currency portfolio building app. Recently, Faast released a short guide that instructs users on how to integrate he service with the Trezor cryptocurrency hardware wallet. After the integration, the users will enjoy a safe and cross-chain trading experience. Essentially, Faast guarantees the most secure trading environment with support for an assortment of digital assets.
How It Works
- Connect the Trezor hardware wallet to a computer and install the Trezor Bridge software. Once the installation is complete, navigate to the Faast portfolio page. During this step, it is advisable to have some Bitcoin, Ethereum or other ERC20 tokens (altcoins) for the trading process.
- Click on the ‘Select your wallet’ button. Afterwards, click on the Trezor icon to select the wallet.
- On the pup-up window that appears, click ‘Add all currencies.’
- Enter the Trezor PIN and select Bitcoin/Ethereum on the chosen adding accounts.
Advantages Of Trezor And Faast Integration
Fast And Secure Trading
The wallet leverages the benefits of the cross-chain platform, including greater liquidity and security and swiftness of a hardware wallets.
Simplistic Cross-chain Trading
By integrating in to the Trezor hardware wallet, Faast provides more expedience to its users. This is because the users can trade in digital assets using the hardware, rather than relying on exchange platforms. Therefore, traders are not obligated to transfer their assets to multiple wallets before trading.
On the wake of the recent cases of theft concerning digital assets, regulatory bodies have imposed stringent rules for exchange platforms, requiring the provision of each user’s personal information (KYC process). Nonetheless, Trezor users are exempted from this rule, as the device does not prompt for private credentials.