Wallet Protect: A New Service for XRPL Wallets

Security concerns are permeating the crypto market. Since 2011, over $7.6 billion of crypto funds have been stolen due to scams and user’s general unfamiliarity with the market. On top of that, when exchanges are forced to shut down, there is no way for users to recover their funds.

This is a problem GateHub is looking to solve. Wallet Protect is a world-first for the XRP Ledger. It provides users with the ability to secure their wallets with multi-signature and up to $100,000 of theft cover through a partnership with Coincover.

Coincover offers a range of cryptocurrency protection products including fund recovery and deposit protection guarantee. Additionally, the custody of funds always stays with the customer, meaning whether GateHub exists or not, users will always be able to get their funds back.

Thanks to its use of xrplorer and Chainalisys, GateHub flags suspicious account addresses to help mitigate unnecessary security problems in the first place. Wallet Protect is built into GateHub and it’s easy for users to sign-up. More Visit: What is Ripple cryptocurrency XRP

A special 25% discount has been extended for readers of this blog. For the month of March, $10,000 of theft cover can be purchased for $2.25 per month or upgraded to $100,000 of theft cover for $18 per month.

As GateHub continues to improve its platform and grow, Pungerčar and his team, that is more than 40 people strong, are committed to helping people navigate the world of cryptocurrency more efficiently. By building a network of regulated gateways using the XRP Ledger, it will soon be possible for customers to draw upon any assets or values.

GateHub, however, doesn’t want to do it alone. The team wants to encourage other developers and merchants to build their own solutions and wallet applications. The sooner more companies and developers adopt the technology, the sooner its value will be recognized on a global scale.

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