In the latest update patch of IDC Wallet, BIP 39 Encryption was introduced along with its new Swap!t feature
With the rapid development of the global blockchain technology and the expansion and enrichment of the blockchain ecosystem, the demand for transactions between digital assets has become increasingly strong. IDCW (International Digital Currency Wallet) recently introduced a revolutionary technological solution with its latest patch.
Relevant data shows that the current global currency exchange transactions have accounted for more than 50 percent of the global digital asset market volume, while so far China doesn’t have a corresponding digital currency wallet to support such deals. An innovative function, which supports trading, has been introduced by IDC Wallet.
At the same time, for digital currency holders – especially early holders – the problems of how to memorize account name, password and how to keep them safe seem to be disturbing.
Addressing these problems, IDC Wallet has innovatively launched a new “Swap!t” feature, allowing users to quickly and conveniently buy and sell digital currencies in the wallet directly, instead of traditional trading platforms. It simplifies the exchanging process by eliminating the need for any KYC and has no transaction fees. A quick buy/sell function within the wallet provides fast matching services between IDC Wallet users on the platform. Currently, Swap!t offers BTC and VHKD pairs, with other pairs coming soon.
Along with securely storing cryptocurrency assets, IDC Wallet also performed an update to a Hierarchical Deterministic wallet (HD wallet) on April 19 to both enhance asset security and optimize the user registration and the log-in process.
Advantages of using HD wallet:
Using BIP 39 encryption allows a creation of a new address every time users send or receive funds from their HD wallet, improving online privacy and security. Further, it provides the possibility of managing an array of cryptocurrencies both on the Bitcoin and Ethereum blockchain. The implementation of a backup seed as the sole log-in method also emphasizes the decentralized nature of the IDC Wallet.
“The cryptocurrency market is rapidly developing. The vast majority of cryptocurrency wallets do not provide a good solution for users. To facilitate a better trading experience, we are committed to creating IDC Wallet into a wealth management and investment center for digital assets, which has advantages in security, convenience and functionality,” said IDCG Chairman Michael Zhao.