Earlier this month, one of the oldest cryptocurrency trading platforms, HitBTC, launched a wallet app tailored for users with little to no previous experience with digital assets. HitBTC wallet allows storing, buying, exchanging, sending, and receiving over 500 coins, and accommodates all the basic needs of beginner investors.
By introducing its user-friendly wallet app, HitBTC hopes to simplify the entry point for everyone who doesn’t feel comfortable using a full-fledged trading platform. At the same time, more experienced users can benefit from its simplified functionality and link their wallet app to their HitBTC trading account.
HitBTC Wallet’s Features
The app features an in-built on-ramp functionality, allowing users to purchase a variety of coins using leading payment systems like Visa, Mastercard, Apple Pay, and Samsung Pay. Prior to buying digital assets, users need to pass an automated identity verification procedure and add their payment details. The wallet creators affirm that providing favorable exchange rates is one of their top priorities.
Additionally, users can instantly exchange multiple tokens and coins directly in their wallet app.
Supported cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Monero (XMR), Bitcoin Cash (BCH), Litecoin (LTC), EOS (EOS), Binance (BNB), Bitcoin SV (BSV), Stellar (XLM) Dash (DASH), Zcash (ZEC), Ethereum Classic (ETC), Tron (TRX), and over 500 other assets.
As for sending crypto to external addresses, QR-codes and regular addresses can be used. The wallet will soon add the ability to create friends lists and pick the receiver without inserting the entire address every time you make a transaction.
Another coming soon feature – a universal QR code – can be used to receive any coin; the exchange from one coin to another will be executed automatically.
Market trends and relevant news are displayed in each wallet’s section to let users keep up with the current situation and possible price changes and diversify their portfolio accordingly.
HitBTC is a custodial wallet, meaning that the HitBTC takes full custody of the funds and ensures their safety, including regaining access to the account in case of the mobile device’s loss or damage. The wallet users can track their balance and see the details of every transaction in the transaction history section.
User accounts are protected with PIN-code, 2FA, biometry, and face ID. Also, users can manage access from other devices for advanced level of control.
Peter Swen, the HitBTC wallet’s CMO, is positive that the new app will accommodate the needs of a large group of people, not daring to enter the cryptocurrency space due to its seeming complexity. “Although there is no lack of crypto wallets on the market, only a few of them offer a straightforward way to purchase digital assets. We’ve designed our wallet primarily for beginners, attempting to show that anyone can get a pleasant experience buying their first coin and do so with the minimal fees,” – says Peter Swen.