Telegram Wallet, a major Telegram bot allowing users to buy and sell cryptocurrencies like Bitcoin (BTC), has chosen custody over self-custody to chase easier onboarding goals, according to a senior executive. In July 2023, crypto-friendly Telegram messenger officially announced the integration of the custodial crypto wallet, Telegram Wallet, to allow users to access the wallet directly from the messenger’s settings. Though Telegram has enabled existing Wallet users to see the wallet bot directly in the messenger, those who have never used the bot are still not seeing the crypto wallet…
Tag: Onboarding
Binance halts onboarding of new UK users
Crypto exchange Binance will stop accepting users in the United Kingdom as of 5 p.m. local time on Oct. 16. According to Binance’s announcement, the move came after the country’s Financial Conduct Authority (FCA) imposed legally binding requirements on its partner Rebuildingsociety.com Ltd (REBS) on Oct. 10. Among other items, the ruling prohibited REBS from ad promotions soliciting Binance goods and services. The exchange wrote: “Binance is currently looking for a new FCA authorised approver. However, there will be some temporary restrictions coming into effect on our Platform (i.e. www.binance.com/en-GB and…
Pancakeswap integrates Transak for fiat onboarding on multiple chains
Decentralized exchange Pancakeswap now offers Transak as a provider in its “buy crypto” tab, giving Pancakeswap users an additional option when shopping for crypto, according to an announcement on September 21. Mercuryo and Moonpay were previously providers for this feature, making Transak the third provider to be added. Caption: Pancakeswap buy crypto tab. Source: Pancakeswap Pancakeswap is a multichain decentralized crypto exchange (DEX). It’s available on 8 different blockchain networks, including BNB Chain, Ethereum, Base, Polygon zkEVM, and others. It has over $1.3 billion worth of crypto locked in its…
Onboarding crypto users in Africa vs. the West — Fonbnk founder Christian Duffus explains
The African continent is considered a significant market for crypto adoption due to its youthful population, flawed economic management by governments, and inadequate financial infrastructure for internal and global connectivity. On Episode 28 of Hashing It Out, host Elisha Owusu Akyaw is joined by Christian Duffus, founder of Fonbnk, to discuss the complexity of onboarding users from the continent. Duffus shares his ideas for diverse and innovative ways to onboard new crypto users in developing markets, as well as explains how other factors like education and regulation affect the Web3 onboarding…
Worldcoin’s Orb had serious security vulnerability in operator onboarding: CertiK
The controversial Worldcoin project had a serious security vulnerability, CertiK has disclosed on X (formerly known as Twitter). Worldcoin pays people to become part of its World ID ecosystem by submitting scans of their irises through a device Worldcoin calls an Orb. According to security platform CertiK, the vulnerability in the vetting process for operators could have allowed an attacker to bypass the verification process and operate an Orb without being interviewed or having a proper ID. “It would not need to be a company,” according to the post. 1/…
Binance Japan Starts Onboarding Users
Two years earlier, the exchange was warned by Japanese regulators that it was operating in the country without permission. Source
Reddit Engineer shares strategy behind NFT onboarding at EthCC Paris
Mirela Spasova, a Reddit senior engineer on the Collectible Avatars project, took to the master stage at the Ethereum Community Conference (EthCC) event in Paris to shed light on Reddit’s strategy for onboarding millions of users to its blockchain-backed digital collectibles. In her presentation, Spasova said that the primary motivation behind running Collectible Avatars on-chain is to empower users with freedom of use. By adopting an on-chain approach, users gain the ability to make their own choices, including the option to resell the avatars on popular non-fungible token (NFT) marketplaces like…
Trust Wallet to Simplify Web3 Onboarding with This New Integration
With the growing importance of Web3, adopting Two-Factor Wallets is seen as a significant step in improving security measures in the crypto industry. Trust Wallet, one of the largest self-custodial and multi-chain wallets, has partnered with Web3Auth to simplify Web3 onboarding using social logins. This collaboration allows users to access Web3 services using their existing social login credentials and other security factors. Trust Wallet’s newly deployed Multi-Party Computation (MPC) solution, powered by Web3Auth, eliminates the current requirement of a written-down seed phrase, safeguarding users from human error and a single…
China’s state-affiliated banks onboarding crypto companies in Hong Kong
Hong Kong’s push to become a crypto hub has opened an opportunity for not just crypto companies but many state-affiliated banks in China as well. The Chinese banks have shown interest in building partnerships and onboarding regulated crypto companies in Hong Kong, despite a blanket bank on crypto-related activities in mainland China. The Hong Kong arm of the major Chinese state-owned Bank of Communications is collaborating with several cryptocurrency businesses registered in the city. The bank is in talks to open accounts for regulated companies, according to a report published…
Blockchain Games Key to Onboarding a ‘Critical Mass of Users Onto Web3’ — Claudio Riff – Interview Bitcoin News
According to Claudio Riff, the CEO of Pooky, a sport prediction game powered by blockchain, gaming may be one of the more effective ways of getting users to experience the potential of blockchain and Web3 without dealing with the associated complexities. Onboarding People to Web3 Through Gaming Pointing to the gaming industry’s appeal and reported market value of over $200 billion in 2021, the CEO of Pooky postulated that having more blockchain-based games could potentially help “onboard a critical mass of users onto Web3.” In written responses sent to Bitcoin.com…