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John Wang
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Crypto
May 1 19:51

Bitcoin wallets see a surge in activity

Uncertainty drives demand up.
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Startups that offer BTC wallets are seeing a rapid growth of demand. A surge might be explained by the pandemic-induced anxiety, as well as rising crypto prices.
Unchained Capital - bitcoin startup from Texas - reported “dozens” of new clients, many of them institutional.  Their custody solution dubbed Vault grew 340% in the first quarter of the year. Unchained flaunts the processed BTC transactions worth US$50 million. The company is currently developing a wallet update that includes new privacy options.  
Unchained executives believe, that the pandemic and the global economic uncertainty led the golders to reevaluate the methods they use to store their assets. Custody solutions provides shared keys to the wallet. It reduces the risks, especially in collaborative trading.
Another custody-oriented service ShapeShift reported a growth of activity as well. The company’s CEO Erik Voorhees noted, that the world economy is experiencing the first global recession since the creation of the cryptocurrencies. Therefore it is only natural that traders are getting more familiar with the security mechanisms.