Bybit Web3 Surpasses 1 Million Wallet Users

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Bybit, the world’s third largest crypto exchange by volume, today announces the launch of its Keyless Wallet, a revolutionary self-custody solution redefining digital asset security and accessibility, as Bybit celebrates reaching 1 million users on our #BybitWeb3 wallet.

Built upon cutting-edge Multiparty Computation (MPC) technology, Keyless Wallet empowers users with ultimate control over their assets, eliminating the need for vulnerable private keys and third-party trust. Bybit Web3 is also planning for the next upgrade by introducing seed phrase wallet in February 2024, marking another stride in user-centric solutions.

“At Bybit, we believe Web3 holds immense potential, but complexity and security concerns remain significant barriers to entry,” says Ben Zhou, co-founder and CEO of Bybit. “Keyless Wallet is an important milestone of our Web3 vision to build a simpler, open, and equal ecosystem for everyone, where security isn’t sacrificed for convenience. Today, we are thrilled with the overwhelming support from the Web3 community as our Bybit Web3 wallet reaches 1 million users, marking a celebratory achievement in our journey towards a more inclusive digital landscape.”

Bybit’s Crypto Wallet Study Underlines the Importance of Both Security and Ease of Use

As highlighted in Bybit’s recent crypto wallet study, security and user-friendliness are key factors when choosing a digital asset wallet. Bybit’s Keyless Wallet addresses this critical need by combining cutting-edge security with an intuitive interface.

Powered by MPC technology, Keyless Wallet eliminates the need for users to memorize or store private keys, mitigating the risk of loss and compromise. Instead, private keys are distributed and processed in secure enclaves, significantly enhancing security without sacrificing convenience.

READ ALSO  Bybit Web3 guide for cryptocurrency wallets

MPC Wallets: Fortress for Your Crypto Assets

  1. Keyless Convenience: Users can experience keyless convenience by leveraging MPC technology. The keys are stored in pieces in separate locations and provide top-notch security without the need for traditional mnemonics.
  2. Revolutionizing Security: Users can enjoy unparalleled asset protection via Bybit Keyless Wallet.  The signature process of interacting with the Dapp will not show the complete private key, eliminating the risk of private key exposure and greatly improving the security of the private key and assets.
  3. Self-Custody Empowerment: Bybit Keyless Wallets empower the users with full ownership of assets and control over their private keys, pioneering advanced crypto asset protection.
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