Number of Crypto Wallet Users Increases As the Crypto Market Expands

The constant expansion of the crypto market has led to an increase in crypto wallet users. On top of that, Bitcoin use keeps soaring to new heights, reaching a market cap of $928.5 billion in 2021, leading the rest of the crypto market.

The interest in cryptocurrencies is further boosted by corporations like Tesla, which started accepting them as payment methods.

In addition, financial service companies like Mastercard, PayPal, Square, and Venmo have announced plans to incorporate crypto wallets as part of their payment options.

Risk of crypto wallets

Due to the inconspicuous nature of crypto wallets, a door has been left open to cybercriminals. Recently large US companies’ cyber networks were held for ransom, and the criminals demanded payment in cryptocurrencies.

Criminals are constantly finding innovative ways to overcome the latest security features. Another form of infiltrating users’ wallets, recently used by the crooks, is malware that replaces the clipboard content every time you copy your crypto wallet address. The malware replaces your wallet address with the attacker’s address, and this type of crime has become way too common recently.

However, crypto exchanges like Binance, which has been subjected to hacking previously, have introduced a Secure Asset Fund for users, whereby 10% of all trading fees are collected to reimburse affected users.

Three Bitcoin coins lying on a table
Source: https://unsplash.com/photos/OG3A-ilG8AY

Benefits of trade through crypto wallets

Crypto wallets are easy to use for transfers which make them convenient. You don’t have the hassle of conversion and can quickly transfer a specific coin from one wallet to the next.

Crypto trading brokers allow you to fund or withdraw using your crypto wallet, a convenient service that has become the preferred method for many crypto traders.

Maxwise, a cryptocurrency broker, offers such services to its customers, whereby you can fund or withdraw from your account using a crypto wallet.

They offer trading of various crypto coins, including the leading Bitcoin, Ethereum, and Tether coins. Trading is possible through a web-based platform that is compatible with any device and gives traders access to the markets 24/7.

Maxwise pays attention to its customers by providing market variety, account safety, dedicated support, and an easy-to-use trading interface.

They have designed tailor-made security and performance technology for the protection of users’ information and funds.

Maxwise’s dedicated customer support is available for queries 24/5 and can be contacted via email or the live chat service on the website. Although trading is open seven days a week, Maxwise’s customer support does not operate on weekends.

In addition to crypto funding, Maxwise also allows payment via credit cards and wire transfers.

Bottom Line

Notwithstanding the risks involved, trading through crypto wallets has many benefits; in addition, crypto exchanges and brokers are constantly improving their security measures.

Maxwise offers flexible payment options. They ensure the highest level of security technology to safeguard their customers against malicious activities, which makes them a solid consideration for crypto trading.