CoolBitX’s CoolWallet S now offers full support of Circle’s stablecoin, USDC, allowing easy exchanges and rapid investment hedging.
The secure storing of Cryptocurrencies is a major challenge facing the crypto industry. Cryptocurrencies, can be smoothly stored both on software or Hardware. However, there are few companies offering the hardware services because of the complicated nature of its protocol. Recently, CoolbitX has taken the industry by surprise and created a solution with their Coolwallet S, and has announced a new partnership with Circle to include Stablecoin USDC to the Coolwalle S for proper investment hedging.
CoolBitX produces “Coolwallet S” a secure crypto hardware wallet to store cryptocurrencies especially during Bearish market, and swipe back at a Bullish period. This is consequently because of the volatility inherent in trading cryptocurrencies and other financial assets.it is usually an option for many traders to cash out to fiat at any sign of vulnerability, and yet still incur an unwholesome charge from the banks or other fiat exchanges. CoolbitX Wallet is an alternative a lot of people are waiting for and a solution to hedge assets in an unstable market. The CollbitX has Options for Bitcoin, Ethereum, Litecoin, Ripple, alongside their market value. And this is like carrying your assets around like a physical cash.
In the crypto world, Stablecoins are digital currencies that hold stable value. They are pegged to a real-world stable asset like the dollar. The idea is to hold actual dollars in reserve that are redeemable for the tokens. CoolbitX has partnered with Circle to include the USDC stablecoin on the wallet. Each USDC holds the value of 1 dollar.
The partnership with Circle will allow CoolBitX users to store USDC on their CoolWallet S and quickly and easily exchange it on the CoolBitX native app. Coolwallet is actually one of the best hardware storage in the market. CoolbitX Embedded a verification button and a display screen on its very razor-flat CollWallet S card. This is practically to avoid hacking and increase maximum security. They also made the app and card to operate independently without any third-party plugins or key sharing. This makes it secure, safe and user-friendly. These, in essence, would make it a natural choice for anyone to invest or store their assets.
In a recent interview, the CEO and founder of CoolbitX Mr. Micheal Ou praised USDC as an incremental improvement on open and inclusive stablecoin. He commented on the partnership and its importance to the entire crypto community. He said:
“USDC is an exceptional improvement on asset-backed stablecoins due to its ability to scale. We believe that the combination of CoolWallet S and USDC will play a crucial role in minimizing digital asset exchange rate volatility at scale and maximize the ease and security of crypto exchange. We are excited to drive this mission forward with Circle and the CENTRE protocol by listing multiple liquid USDC trading pairs. For investors looking to hedge their portfolios, this partnership is key. For example, in times of decline, users can move their investments into a USD-backed digital asset with unprecedented ease while they watch crypto prices fall, then instantly swap it back again when prices reach bottom for great profit. By using the CoolWallet S, users can rest assured that their currencies are safely kept offline on their credit card-sized hardware wallet, and not on a vulnerable exchange or software wallet.”
It is no news that the native-app supports all ERC20 tokens, making CoolWallet S the first hardware wallet to empower users to add any ERC20 token they choose without needing to use third-party tools. Finally, this partnership would increase the trust level in the market by creating a more secure avenue for investors to store crypto assets, and worry less of the market tumbling.
