SINGAPORE, November 28, 2022 /PRNewswire/ — several billion value crypto assetto shave evaporated on FTX, the third largest exchange in the world. But history repeats itself. In 2014 it was Mt. Gox, the largest in the world Bitcoin broker and world leader Bitcoin exchange, processing more than 70% of all Bitcoin transactions worldwide February 2014, the exchange was hacked and 850,000 bitcoins were stolen. It was a systematic and infrastructural failure.
There are low education on managing private keys and personal wallets. Challenges for crypto investors seem more concerned with not “losing” than “making a profit”.
Therefore, to keep it safe, you must keep it in your own wallet and private key or mnemonic that allows access to the generated wallet that must also be protected.
The private key or recovery word phrase cannot be recovered once it is lost. It gives access to different tokens. In most of the cases, combinations from 12 to 36 characters is stored insecurely. This also leads to the risk of loss or hacking. Cold (hardware) wallets are an alternative but fall under the same circumstances.
Master Key 2.0 has been released to protect crypto assets and private keys. The advantage is that it allows the protection of the portfolio and crypto assets by securing the private key during random incidents. In addition, 3FA personal authentication information can only be access to protect and recover private keys.
In particular, one can manage multiple wallets and private keys of various crypto active at a time. Sole ownerrs may use their personal information to manage the keys that allow them to access blockchain assets. All 3FA-protected private keys are algorithmically encrypted and held separately in secure storage in the Microsoft cloud. Restore and recovery follow the same procedure. It’s simple and convenient, but it also provides very strong encryption and a reliable cloud architecture. MasterKey’s encryption and algorithm services are provided as an API to partner with B2B. It hosts the Defi wallet provider and exchanges. You can access and download at: https://www.the-masterkey.com
MasterKey 2.0, is offered by Digifinance Pte. Ltd in Singapore. Digifinance aims to create the first digital wealth technology platform offering holistic investment and security services across the entire spectrum of digital assets. The the company has partnership with Samsung, UNESCO, r3, KOSCOM (Korea Exchange) and othersand was awarded by Microsoft Startup.
SOURCE Digifinance Pte. ltd.