Hello Everyone,
We work on this blockchain platform and get rewarded in the form of cryptocurrency which is a digital token. Digital money is very easy to send and receive and we can transfer it to anyone and it takes a few minutes to get transferred in someone else accounts. Although this technology is quite secure but hackers are there and they are also well advanced and have abilities to hack highly secure platforms.
Although crypto exchanges are following high-end security technology to keep their wallets secure but still we see the news of exchange hacking once in couple of months and even Binance (a leading crypto exchange) exchange has also been in the list which was hacked sometime back.
Apart from the exchange wallet, there is another way which is a more secure option to keep digital holdings. We can use to keep our digital holdings secure and these are hardware wallets and cold wallets. As far as I know, I have never come across any news or situation where users lost their funds from the hardware wallets.
Bitbns, and Indian exchange is going to launch their cold wallet shortly. This would be the first-ever gold wallet from any Indian exchange and I think this is going to bring more innovation in crypto space. India is a bigger market for technology and crypto. If in future government gives a green signal to the crypto regulation then I am quite hopeful that there will be a huge number of new people joining every day. It seems like Indian exchanges are getting them self prepared to manage the safety and security of funds of users in advance.
BNS has also introduced their token known as BNS token which is already made tradable and I will discuss it more in detail in my future post. As per the announcement made by the exchange, they have limited quantity available as of now which they are going to open in September month, and based on response they will increase the quantity depending upon the demand.
We will be opening up a pre-bookings page for this on September 3rd, where users can book it in advance. Remember, these are currently in limited quantities and there are only a few hundred pieces available as of now. Based on initial feedback and additional demand, we would be procuring more of them for our users.
As of now, they have not revealed the price of this cold wallet and it would be interesting to see at what price they are going to launch it. If they keep the price at the minimum possible then I hope it is going to get a better response by the crypto users in the country as exchange should focus more on the safety of funds instead of making money out of it. If they create a bigger user base then it will be a kind of recurring revenue for them so making a bigger margin from this wallet should not be a good idea.
Although it's not clear as of now about Its availability and the price so will have to wait for a couple of weeks to get the pre-booking window open and then further update about the price and its delivery.
Thank you so much
