PayBito Observes High Traffic For Its Custodial Service Comparable with its Exchange Service

Global digital asset exchange PayBito announces an all-time high number of seekers of its custodial service. This number has increased a notable 42.5 % since the beginning of the last quarter of 2021.

Cryptocurrency custody solutions may be defined as third-party providers of secure storage services for cryptocurrencies. Their services are mainly for institutional investors, who hold large amounts of cryptocurrencies. The PayBito custody solutions incorporate a combination of hot storage, or crypto custody connected to the Internet, and cold storage, or crypto custody that operates offline or disconnected from the Internet.

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The massive rise of cryptocurrency in 2021 is followed through this year, an instance of which translates to the overall high number of wallet and custodial service seekers.

“We are currently dealing with a sizable crowd seeking custody service outside of our regular traffic of exchange service and solutions seekers,” claimed an elated PayBito chief and blockchain pioneer, Raj Chowdhury.

The rising demand for custody solutions is indicative of a rise in institutional crypto investors. “This further translates to a quick expansion of the crypto markets and a serious interest in crypto by large institutions,” added Chowdhury.

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Custody service is synonymous with security, especially with hot storage facilities. PayBito implements appropriate security measures ensuring the hot storage is not compromised even due to network failures or slow-downs.

PayBito has recently announced a new project wherein it provides gaming-exchange technology to a US-based firm. PayBito has created ripples since gaining a crowd following about its crypto-collateralized lending platform. The company leaves an impressive trail on its way to securing the top spot among crypto exchanges in the US.

Garnering supporters for its secondary services comes as a benchmark in the progression of PayBito. While its flagship product, crypto exchange architecture outshines the other services, this one is for celebrations.

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