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Poland’s Central Bank Says It Will Add 100 Tons of Gold to Existing Holdings in 2022

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Poland’s Central Bank Says It Will Add 100 Tons of Gold to Existing Holdings in 2022

The Polish central bank, the National Bank of Poland (NBP), is reportedly planning to raise its gold reserves by 100 tons in 2022. According to bank governor Adam Glapinski, the objective of this decision is to prepare Poland for “the most unfavourable circumstances.”

Gold’s Safe Haven Status

In his remarks during an interview with the Gazeta Wroclawska newspaper, Glapinski explained why the NBP has chosen to increase its gold holdings. He said:

Why does the central bank own gold? Because gold will retain its value even when someone cuts off the power to the global financial system.

Glapinski adds that while the central bank is not assuming this will happen, it is still required to be prepared for such a scenario. The report also quotes the governor explaining why gold’s reputation (as an asset that increases in value during times of increased risk and financial and political crises) is such an important attribute for the NBP.

Gold as Hedge Against Dollar Fluctuations

Finally, according to the governor, gold is also seen as a good hedge against U.S. dollar fluctuations. Glapinski explained:

“Gold is characterized by a relatively low correlation with the main asset classes – especially the U.S. dollar dominating the NBP reserve portfolio – which means that including gold in the reserves reduces the financial risk in the process of investing in them.”

Meanwhile, the report reveals that the NBP is planning to acquire the gold in mid-2022 when Glapinski expects to be re-elected as governor.

Do you agree that the inclusion of gold in a reserve portfolio will reduce financial risk for the Polish central bank?

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Analyzing Which is the Most Likely Bitcoin (BTC) Wave Count?

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Analyzing Which is the Most Likely Bitcoin (BTC) Wave Count?

In this article, BeInCrypto will take a look at the potential wave count for Bitcoin (BTC), after the sharp fall of Dec 4.

Long-term BTC counts

The main wave count suggests that BTC is in wave five (white) of a five wave bullish impulse. A bullish impulse is a five wave movement, in which three waves are upwards, while two are downwards, and are considered corrective.

Therefore, this is the final upward movement prior to a significant correction. The entire upward movement began on Dec 2018, when the BTC price was at $3,122.

The sub-wave count is given in yellow, and shows that BTC is still in sub-wave two (yellow). Therefore, if the count is correct, there is still considerable room for the price to grow. 

The only issue with this count is the fact that the trendline connecting waves 2 and 4 is nearly broken (red circle). According to Elliott wave theory, the trendline should stay in place for as long as the upward movement is intact.

Therefore, for the count to remain valid, BTC has to reclaim this trendline and stay above it.

Chart By TradingView

The alternate count, which is more bearish, suggests that BTC is still in wave four of the same five wave upward movement (white). In this case, it would continue the decrease towards $30,000, before eventually beginning another upward movement towards a new all-time high, which would complete the bullish impulse.

The only issue with this count is the large discrepancy between sub-wave two and four (highlighted). While they should have some alternation between them, the fact that sub-wave four is nearly seven times longer than sub-wave two is extremely unusual.

Chart By TradingView

Short-term count

Cryptocurrency trader @TheTradingHubb outlined a BTC chart, which shows the price correcting towards $42,000.

Source: Twitter

Since the tweet, BTC reached the target and bounced. However, due to the length of the preceding increase, it does not seem likely that the entire corrective structure is complete. Rather, this could be only the first part of the correction prior to another drop (black). 

In order for the bullish count to remain valid, BTC has to hold on above the $37,100 area. This is the 0.786 Fib retracement support level and a horizontal support area. 

A decrease below it would make the previously outlined bearish count as more likely.

Chart By TradingView

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Ethereum bulls retain hopes of $10K despite ETH price chart bear flag

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Ethereum bulls retain hopes of $10K despite ETH price chart bear flag

Ethereum’s native token Ether (ETH) looks poised to extend its selloff this week as it wobbles near a key support level of $4,000.

ETH price dropped by over 5.50% on Dec. 6 to an intraday low at $3,913. In doing so, it slipped through upward sloping support that constituted an ascending channel that — more or less — appears like a bear flag, a bearish continuation setup.

ETH/USD daily price chart featuring Bear Flag setup. Source: TradingView

Conservative traders typically spot bear flags when an instrument consolidates higher inside a parallel channel after a considerable price drop (called flagpole). They anticipate the price to break below the flag’s lower trendline. And when it does, traders set their profit target by measuring the flagpole’s height and subtracting it from the breakout level.

Applying the bull flag strategy to Ether’s ongoing price trends, one can expect the cryptocurrency to drop towards $3,200 in the sessions ahead. Interestingly, the level is also near the 0.5 Fib line (~$3,264) of the Fibonacci retracement graph drawn from the $720-swing low to the $4,808-swing high.

More confirmation needed

While the bear flag setup hints at more pain for Ether ahead, some analysts believe the Ethereum token still has more room to run to the upside.

For instance, PostyXBT, an independent market analyst, asked his massive follower-base on Twitter to turn attention to Ether’s deep price wick from Dec. 4, underscoring how the cryptocurrency’s sudden crash from near $4,240 to as low as $3,575 (data from Coinbase) was met by traders with an aggressive buying response.

“The weekly close above $4k means that ETH is one of the strongest looking coins out there,” the pseudonymous analyst noted, adding that not many held the structure “despite the wick.”

ETH/USD weekly perpetual futures contract chart. Source: TradingView

Meanwhile, another popular analyst Crypto FOMO also referred to the Dec. 4 rebound as a reason to stay bullish on Ether. In an analysis published Dec. 6, the analyst said that the cryptocurrency’s ability to hold its rising channel support (the bear flag structure) might prompt bulls to push its value to $10,000.

“That is also because Ethereum is crashing a lot lesser than other cryptos, which is very bullish,” the channel noted while highlighting Ether’s growing strength against Bitcoin (BTC).

Top ten cryptocurrencies’ performance against USD and BTC in the last 30 days. Source: Messari

On its weekly chart, Ether looks to have been eyeing a move toward $6,500 after breaking out of its ascending triangle.

In detail, the ETH price left the triangle range in the week ending Oct. 25 after consolidating inside it for a little over four months. Nonetheless, traders returned to test the structure’s upper trendline as support, as is common across bullish continuation setups.

ETH/USD weekly price chart featuring Ascending Triangle setup. Source: TradingView

As long the price holds itself above the triangle’s upper trendline, its likelihood of continuing its rally upwards remains higher — by as much as the structure’s maximum height, as shown in the chart above.

On the other hand, a decisive break below the triangle’s lower trendline risked invalidating the bullish setup.

Strong fundamentals

James Wo, CEO/founder of DFG Group, a Singapore-based venture capital firm, blamed Ether’s consistently positive correlation with Bitcoin behind its latest price corrections, noting that a spot market selloff in the BTC market, led by the ongoing Omicron FUD, has had exchanges liquidate $2 billion worth of traders’ margined positions, hurting ETH in tandem.

Related: BTC sentiment ‘comparable to a funeral’ — 5 things to watch in Bitcoin this week

But the analyst, too, anticipated a price rebound for ETH based on its successful adoption across the emerging nonfungible token (NFT), decentralized finance (DeFi) and metaverse space.

Top five DeFi chains based on total-volume locked. Source: Defi Llama 

“The levels of open interest levels seen up to this correction for both BTC and ETH were an important indicator that a bearish scenario was highly probable,” Wo explained, adding:

“We still believe that fundamentals are strong and long-term valuations are still very low based on the technological advancements and contributions we are witnessing from this industry.”

ETH/USD was trading at $4,050 at the time of this writing.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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How to choose a secure DeFi wallet, explained

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How to choose a secure DeFi wallet, explained
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DeFi refers to decentralized finance, which covers the overarching concept of eliminating financial intermediaries and provides value in the provision of more extensive use cases for blockchain technology.nn

DeFi is the short form of “decentralized finance,” an overarching term for the variety of products and simplified services that disrupt the financial industry by removing all intermediaries. The blockchain inspires the concept to ensure that all transactions are held in a copy of the distributed ledger, guaranteeing that there is no single source in control of the information. nn

Perhaps the key reason for the rapid growth in the DeFi concept is its use for payment transfers to extend to more complex scenarios. Some of the most known use cases include stablecoins, open lending platforms, yield farming, staking and decentralized exchanges. For users, these applications allow for higher interest rates than are offered in traditional banks and fewer barriers requirements for taking out a loan.nnn”,”created_at”:”2021-12-06 12:16:40″,”updated_at”:”2021-12-06 12:25:41″,”sort”:1,”translations”:{“id”:2900,”explained_post_id”:2907,”title_en”:”What is DeFi?”,”content_en”:”

DeFi refers to decentralized finance, which covers the overarching concept of eliminating financial intermediaries and provides value in the provision of more extensive use cases for blockchain technology.nn

DeFi is the short form of “decentralized finance,” an overarching term for the variety of products and simplified services that disrupt the financial industry by removing all intermediaries. The blockchain inspires the concept to ensure that all transactions are held in a copy of the distributed ledger, guaranteeing that there is no single source in control of the information. nn

Perhaps the key reason for the rapid growth in the DeFi concept is its use for payment transfers to extend to more complex scenarios. Some of the most known use cases include stablecoins, open lending platforms, yield farming, staking and decentralized exchanges. For users, these applications allow for higher interest rates than are offered in traditional banks and fewer barriers requirements for taking out a loan.nnn”,”title_es”:””,”content_es”:”n”,”title_cn”:””,”content_cn”:”n”,”title_de”:””,”content_de”:”n”,”title_it”:””,”content_it”:”n”,”title_ar”:””,”content_ar”:”n”,”title_br”:””,”content_br”:”n”,”title_jp”:””,”content_jp”:”n”,”created_at”:”2021-12-06 12:16:40″,”updated_at”:”2021-12-06 12:25:41″,”title_kr”:””,”content_kr”:”n”,”title_tr”:””,”content_tr”:”n”}},{“id”:2908,”post_id”:77334,”title”:”How can users get started in the DeFi world?”,”content”:”

Accessing decentralized finance products and services starts with a gateway, more commonly known as a DeFi wallet.nn

To help users get access to some of these features, DeFi wallets become key. While traditionally, these wallets were complex to use and slow to operate, they are now becoming more streamlined and easier for new users to navigate than ever before. As the core to DeFi, wallets allow users to access new financial products as a cryptocurrency gateway to Web 3.0, thereby providing freedom, transparency and ownership of a user’s assets.nnn”,”created_at”:”2021-12-06 12:17:13″,”updated_at”:”2021-12-06 12:25:41″,”sort”:2,”translations”:{“id”:2901,”explained_post_id”:2908,”title_en”:”How can users get started in the DeFi world?”,”content_en”:”

Accessing decentralized finance products and services starts with a gateway, more commonly known as a DeFi wallet.nn

To help users get access to some of these features, DeFi wallets become key. While traditionally, these wallets were complex to use and slow to operate, they are now becoming more streamlined and easier for new users to navigate than ever before. As the core to DeFi, wallets allow users to access new financial products as a cryptocurrency gateway to Web 3.0, thereby providing freedom, transparency and ownership of a user’s assets.nnn”,”title_es”:””,”content_es”:”n”,”title_cn”:””,”content_cn”:”n”,”title_de”:””,”content_de”:”n”,”title_it”:””,”content_it”:”n”,”title_ar”:””,”content_ar”:”n”,”title_br”:””,”content_br”:”n”,”title_jp”:””,”content_jp”:”n”,”created_at”:”2021-12-06 12:17:13″,”updated_at”:”2021-12-06 12:25:41″,”title_kr”:””,”content_kr”:”n”,”title_tr”:””,”content_tr”:”n”}},{“id”:2909,”post_id”:77334,”title”:”What is a DeFi wallet?”,”content”:”

A DeFi wallet is a solution that provides users with complete ownership over their assets and is positioned as one of the safest storage methods available today.nn

As an access point, a DeFi wallet provides users with a solution that leaves the power completely in the hands of their owner. This contrasts greatly with a traditional bank, which retains control of all of the user’s assets in its holdings and requires user verification and other related information to do so.nn

DeFi wallets eliminate the need for a third party, a concept that further revolutionizes the financial industry. Looking at DeFi wallets generally, most operate as Web 3.0 wallets with compatibility on the Ethereum (ETH) blockchain (although this may vary).nn

Other similarities across these wallets include their compatibility with DeFi applications and their position as a key-based solution requiring users to retain responsibility for the safekeeping of their private key. DeFi wallets also operate with a non-custodial background, ensuring only the wallet owner has access to the funds.nn

For these reasons, DeFi wallets are among the safest solutions on the market. However, their security becomes a product of the user, who then may find themselves out of luck if they lose their login information.nnn”,”created_at”:”2021-12-06 12:17:47″,”updated_at”:”2021-12-06 12:25:41″,”sort”:3,”translations”:{“id”:2902,”explained_post_id”:2909,”title_en”:”What is a DeFi wallet?”,”content_en”:”

A DeFi wallet is a solution that provides users with complete ownership over their assets and is positioned as one of the safest storage methods available today.nn

As an access point, a DeFi wallet provides users with a solution that leaves the power completely in the hands of their owner. This contrasts greatly with a traditional bank, which retains control of all of the user’s assets in its holdings and requires user verification and other related information to do so.nn

DeFi wallets eliminate the need for a third party, a concept that further revolutionizes the financial industry. Looking at DeFi wallets generally, most operate as Web 3.0 wallets with compatibility on the Ethereum (ETH) blockchain (although this may vary).nn

Other similarities across these wallets include their compatibility with DeFi applications and their position as a key-based solution requiring users to retain responsibility for the safekeeping of their private key. DeFi wallets also operate with a non-custodial background, ensuring only the wallet owner has access to the funds.nn

For these reasons, DeFi wallets are among the safest solutions on the market. However, their security becomes a product of the user, who then may find themselves out of luck if they lose their login information.nnn”,”title_es”:””,”content_es”:”n”,”title_cn”:””,”content_cn”:”n”,”title_de”:””,”content_de”:”n”,”title_it”:””,”content_it”:”n”,”title_ar”:””,”content_ar”:”n”,”title_br”:””,”content_br”:”n”,”title_jp”:””,”content_jp”:”n”,”created_at”:”2021-12-06 12:17:47″,”updated_at”:”2021-12-06 12:25:41″,”title_kr”:””,”content_kr”:”n”,”title_tr”:””,”content_tr”:”n”}},{“id”:2910,”post_id”:77334,”title”:”What should users consider in their DeFi wallet?”,”content”:”

Picking the right DeFi wallet comes down to selecting a solution that supports the right assets and products while offering user’s a minimum level of security, simplicity, guidance and convenience.nn

The number of DeFi wallets continues to increase, making it more difficult for users to determine which one is the best for them. Therefore, it becomes crucial for users to carefully weigh their options before making a selection. Among the most important considerations is the assets that the wallet supports, as naturally, not every wallet will support the asset a user is looking to hold.nn

The secondary consideration comes down to a reputation for security. Does the provider take the necessary steps to ensure the safety of its user? Furthermore, users will want to consider the types of products they would like access to; as mentioned earlier, while some solutions provide accessibility to staking and yield farming, others may not. After answering some of these preliminary concerns, questions of usability must be considered.nn

The way the market for DeFi stands, users are still met with a lack of knowledge on the industry, how to get started, and more intricate details, including how to use a multi-asset LP token, manage transactions on a decentralized exchange (DEX) or navigate new solutions and techniques. nn

For this reason, new users will especially want to consider the question of simplicity, namely, if the process set up by the wallet provider is streamlined to help users with concerns about the time, energy and cost to use these solutions. Finally, the question comes down to convenience and the ease at which users can access the necessary tools they need to be successful.nnn”,”created_at”:”2021-12-06 12:18:31″,”updated_at”:”2021-12-06 12:25:41″,”sort”:4,”translations”:{“id”:2903,”explained_post_id”:2910,”title_en”:”What should users consider in their DeFi wallet?”,”content_en”:”

Picking the right DeFi wallet comes down to selecting a solution that supports the right assets and products while offering user’s a minimum level of security, simplicity, guidance and convenience.nn

The number of DeFi wallets continues to increase, making it more difficult for users to determine which one is the best for them. Therefore, it becomes crucial for users to carefully weigh their options before making a selection. Among the most important considerations is the assets that the wallet supports, as naturally, not every wallet will support the asset a user is looking to hold.nn

The secondary consideration comes down to a reputation for security. Does the provider take the necessary steps to ensure the safety of its user? Furthermore, users will want to consider the types of products they would like access to; as mentioned earlier, while some solutions provide accessibility to staking and yield farming, others may not. After answering some of these preliminary concerns, questions of usability must be considered.nn

The way the market for DeFi stands, users are still met with a lack of knowledge on the industry, how to get started, and more intricate details, including how to use a multi-asset LP token, manage transactions on a decentralized exchange (DEX) or navigate new solutions and techniques. nn

For this reason, new users will especially want to consider the question of simplicity, namely, if the process set up by the wallet provider is streamlined to help users with concerns about the time, energy and cost to use these solutions. Finally, the question comes down to convenience and the ease at which users can access the necessary tools they need to be successful.nnn”,”title_es”:””,”content_es”:”n”,”title_cn”:””,”content_cn”:”n”,”title_de”:””,”content_de”:”n”,”title_it”:””,”content_it”:”n”,”title_ar”:””,”content_ar”:”n”,”title_br”:””,”content_br”:”n”,”title_jp”:””,”content_jp”:”n”,”created_at”:”2021-12-06 12:18:31″,”updated_at”:”2021-12-06 12:25:41″,”title_kr”:””,”content_kr”:”n”,”title_tr”:””,”content_tr”:”n”}},{“id”:2911,”post_id”:77334,”title”:”Which wallets are worth considering?”,”content”:”

The SafePal wallet is designed to address simplicity with a consolidated dashboard and cross-chain swapping features to support users with staking, amongst other earning opportunities.nn

SafePal is providing users with a solution that operates as a completely non-custodial decentralized crypto asset management platform. The solution comprises a software and hardware wallet for users both simply and conveniently, targeting users who are still reluctant to participate in DeFi.nn

The SafePal wallet is designed with a simplified dashboard that guides users to a series of DeFi pools without having to navigate through an overwhelming amount of DApps, prior to staking. Alongside staking are the platform’s features for auto-compounding in SafePal Earn, which will give users an additional opportunity to save money and earn passive income on all their cryptocurrency assets.nn

With the SafePal wallet, users will no longer use centralized exchange solutions or go through the standard centralized account registration process. Instead, users can take advantage of the SafePal cross-chain Swap feature to ensure necessary assets can be easily swapped for staking. Furthermore, an LP maker is natively built on the SafePal wallet and will create the necessary tokens for staking pools.nn

Currently, the team has noted several achievements over the past year, including the launch of a token on Binance Launchpad and the solution reaching the position as the number one tokenized hardware wallet, with over 2 million monthly active users.nn

Learn more about Safepalnn

n

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice. nnnn”,”created_at”:”2021-12-06 12:20:00″,”updated_at”:”2021-12-06 12:25:41″,”sort”:5,”translations”:{“id”:2904,”explained_post_id”:2911,”title_en”:”Which wallets are worth considering?”,”content_en”:”

The SafePal wallet is designed to address simplicity with a consolidated dashboard and cross-chain swapping features to support users with staking, amongst other earning opportunities.nn

SafePal is providing users with a solution that operates as a completely non-custodial decentralized crypto asset management platform. The solution comprises a software and hardware wallet for users both simply and conveniently, targeting users who are still reluctant to participate in DeFi.nn

The SafePal wallet is designed with a simplified dashboard that guides users to a series of DeFi pools without having to navigate through an overwhelming amount of DApps, prior to staking. Alongside staking are the platform’s features for auto-compounding in SafePal Earn, which will give users an additional opportunity to save money and earn passive income on all their cryptocurrency assets.nn

With the SafePal wallet, users will no longer use centralized exchange solutions or go through the standard centralized account registration process. Instead, users can take advantage of the SafePal cross-chain Swap feature to ensure necessary assets can be easily swapped for staking. Furthermore, an LP maker is natively built on the SafePal wallet and will create the necessary tokens for staking pools.nn

Currently, the team has noted several achievements over the past year, including the launch of a token on Binance Launchpad and the solution reaching the position as the number one tokenized hardware wallet, with over 2 million monthly active users.nn

Learn more about Safepalnn

n

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice. nnnn”,”title_es”:””,”content_es”:”n”,”title_cn”:””,”content_cn”:”n”,”title_de”:””,”content_de”:”n”,”title_it”:””,”content_it”:”n”,”title_ar”:””,”content_ar”:”n”,”title_br”:””,”content_br”:”n”,”title_jp”:””,”content_jp”:”n”,”created_at”:”2021-12-06 12:20:00″,”updated_at”:”2021-12-06 12:25:41″,”title_kr”:””,”content_kr”:”n”,”title_tr”:””,”content_tr”:”n”}}],”is_partner_material”:true,”commentsSection”:{“schemaEntityUrl”:”//cointelegraph.com/explained/how-to-choose-a-secure-defi-wallet-explained”,”list”:[],”amount”:0,”i18n”:{“addComment”:”Add a comment…”,”amountOnePostfix”:”Comment”,”amountPostfix”:”Comments”,”cancel”:”Cancel”,”delete”:”Delete”,”edit”:”Edit”,”errorBig”:”Comment text cannot be longer than 2000 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DeFi refers to decentralized finance, which covers the overarching concept of eliminating financial intermediaries and provides value in the provision of more extensive use cases for blockchain technology.

DeFi is the short form of “decentralized finance,” an overarching term for the variety of products and simplified services that disrupt the financial industry by removing all intermediaries. The blockchain inspires the concept to ensure that all transactions are held in a copy of the distributed ledger, guaranteeing that there is no single source in control of the information. 

Perhaps the key reason for the rapid growth in the DeFi concept is its use for payment transfers to extend to more complex scenarios. Some of the most known use cases include stablecoins, open lending platforms, yield farming, staking and decentralized exchanges. For users, these applications allow for higher interest rates than are offered in traditional banks and fewer barriers requirements for taking out a loan.

Accessing decentralized finance products and services starts with a gateway, more commonly known as a DeFi wallet.

To help users get access to some of these features, DeFi wallets become key. While traditionally, these wallets were complex to use and slow to operate, they are now becoming more streamlined and easier for new users to navigate than ever before. As the core to DeFi, wallets allow users to access new financial products as a cryptocurrency gateway to Web 3.0, thereby providing freedom, transparency and ownership of a user’s assets.

A DeFi wallet is a solution that provides users with complete ownership over their assets and is positioned as one of the safest storage methods available today.

As an access point, a DeFi wallet provides users with a solution that leaves the power completely in the hands of their owner. This contrasts greatly with a traditional bank, which retains control of all of the user’s assets in its holdings and requires user verification and other related information to do so.

DeFi wallets eliminate the need for a third party, a concept that further revolutionizes the financial industry. Looking at DeFi wallets generally, most operate as Web 3.0 wallets with compatibility on the Ethereum (ETH) blockchain (although this may vary).

Other similarities across these wallets include their compatibility with DeFi applications and their position as a key-based solution requiring users to retain responsibility for the safekeeping of their private key. DeFi wallets also operate with a non-custodial background, ensuring only the wallet owner has access to the funds.

For these reasons, DeFi wallets are among the safest solutions on the market. However, their security becomes a product of the user, who then may find themselves out of luck if they lose their login information.

Picking the right DeFi wallet comes down to selecting a solution that supports the right assets and products while offering user’s a minimum level of security, simplicity, guidance and convenience.

The number of DeFi wallets continues to increase, making it more difficult for users to determine which one is the best for them. Therefore, it becomes crucial for users to carefully weigh their options before making a selection. Among the most important considerations is the assets that the wallet supports, as naturally, not every wallet will support the asset a user is looking to hold.

The secondary consideration comes down to a reputation for security. Does the provider take the necessary steps to ensure the safety of its user? Furthermore, users will want to consider the types of products they would like access to; as mentioned earlier, while some solutions provide accessibility to staking and yield farming, others may not. After answering some of these preliminary concerns, questions of usability must be considered.

The way the market for DeFi stands, users are still met with a lack of knowledge on the industry, how to get started, and more intricate details, including how to use a multi-asset LP token, manage transactions on a decentralized exchange (DEX) or navigate new solutions and techniques. 

For this reason, new users will especially want to consider the question of simplicity, namely, if the process set up by the wallet provider is streamlined to help users with concerns about the time, energy and cost to use these solutions. Finally, the question comes down to convenience and the ease at which users can access the necessary tools they need to be successful.

The SafePal wallet is designed to address simplicity with a consolidated dashboard and cross-chain swapping features to support users with staking, amongst other earning opportunities.

SafePal is providing users with a solution that operates as a completely non-custodial decentralized crypto asset management platform. The solution comprises a software and hardware wallet for users both simply and conveniently, targeting users who are still reluctant to participate in DeFi.

The SafePal wallet is designed with a simplified dashboard that guides users to a series of DeFi pools without having to navigate through an overwhelming amount of DApps, prior to staking. Alongside staking are the platform’s features for auto-compounding in SafePal Earn, which will give users an additional opportunity to save money and earn passive income on all their cryptocurrency assets.

With the SafePal wallet, users will no longer use centralized exchange solutions or go through the standard centralized account registration process. Instead, users can take advantage of the SafePal cross-chain Swap feature to ensure necessary assets can be easily swapped for staking. Furthermore, an LP maker is natively built on the SafePal wallet and will create the necessary tokens for staking pools.

Currently, the team has noted several achievements over the past year, including the launch of a token on Binance Launchpad and the solution reaching the position as the number one tokenized hardware wallet, with over 2 million monthly active users.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.

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