News from the Australian Crypto sector say that Decentralised Capital is planning to introduce the first Cryptocurrency vault in the country. The cold storage vault will be the first one of its kind to keep digital assets in the region. The Aussie Crypto users now have a reason to smile as the new project will help in providing them with a solution to secure their virtual currencies.
Decentralised Capital To Introduce Cryptocurrency Vault In Australia
Decentralised Capital, a blockchain investment firm has announced plans to launch Australia’s first Cryptocurrency vault. The company has further revealed that it will work with Custodian Vaults in the project. Custodian Vaults is owned by a precious metals company called Pallion group. Given that it is the first such product in the Australian Crypto market, the Cryptocurrency vault is expected to have high demand.
Recently, the Australian Crypto market has experienced tremendous growth. The growth has also come with a high demand for digital currency storage. Currently, there is no Cryptocurrency vault in the country. The move by Decentralised Capital to launch the vault is crucial in providing the much-needed solution in the country’s Crypto market.
The Cryptocurrency Vault Is Crucial In Enhancing Security
Stephen Moss, the founder, and director of Decentralised Capital said the Cryptocurrency vault comes at a time when the Australian Crypto market is evolving. He added that the new product is essential in ensuring that bitcoin and other Cryptocurrencies become trusted and reliable long-term assets.
Cryptocurrency vaults are crucial in addressing security challenges that may lead to the loss of virtual currencies. The introduction of such new technologies helps in providing serious storage solutions. Moreover, the Crypto users feel more secure when storing their currencies and become encouraged to take part in this fast-evolving blockchain technology.
Moss told the Australian Financial Review that the Cryptocurrency vault in providing the industry with security. It will ensure that the hackers don’t get access to the safe. He added the new feature will help to make bitcoin authoritative and to be remembered as the pin and not bubble. He noted that although it’s challenging to predict the short-term future of bitcoin, blockchain is here to stay hence the need to introduce more security features.
In the interview, Moss reiterated that security and reliability are crucial in the Crypto sector and that his company is determined to provide such solutions. Cold storage is not new to Crypto users as some of them rely on some type of USB devices for storage of their assets and security. However, when such devices are connected to the Internet, their security is compromised as they become open to hacks.
Decentralised Capital Determined To Enhance Security
Moss concluded the interview by saying that Decentralised Capital will introduce a combination of various security features to ensure the funds are safe. These features will include PIN numbers, CCTV monitoring, alarms, biometric identification, and physical location surveillance. The company will play a great role in providing the Australians with an effective solution to their security needs. The Crypto users will now be able to protect their digital assets from cybercriminals. The move is expected to enhance the number of Cryptocurrency users in the country.