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Binance-backed decentralized wallet brand with software and hardware extensions, Safepal, revealed its increased user base following the FTX meltdown. Days after the FTX crash, this spike in the film was revealed. According to reports, the platform’s fundamental decentralization principle is drawing in users in droves.

Increased interest In Decentralized systems

Since the FTX crash’s aftermath, the Safepal firm has seen a growth in platform users over time, and its hardware wallet sales have also seen a boom, reaching their greatest level ever.

The cryptocurrency exchange company Binance also supported Safepal during a 2018 fundraising campaign.

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Days after the FTX crash, investors and crypto consumers flocked to this decentralized wallet brand. 

The obvious relevance of a decentralized network has demonstrated its advantages over a centralized exchange, which may be hacked and also go bankrupt. Safepal, a Binance Decentralized wallet brand, is one which investors have flocked, to protect themselves from this crypto winter. 

This business was formed in 2018 exclusively to maintain its decentralized nature while being very safe and protecting users’ assets and interests.

Decentralization, The Better System?

Victoria Wong, CEO of Safpal, discusses the lessons that might be drawn from the FTX tragedy. She stated that the FTX crisis had shown the industry the value of accountability and transparency, but more crucially, how superior decentralization was to all other forms of operations.

She proceeded by noting that Safepal will become the safe haven for these investors and users who plunge into this awareness as more people become highly conscious of the necessity of having full control of their funds, being able to withdraw, deposit, and trade at any time.

She also lauded Safepal, saying it was on the verge of becoming one of the best Web3 entryways for newcomers and investors.

Safepal’s current phenomenal growth may be ascribed to the decentralization principle, which forms the foundation of its operating system. It is also credited to investors’ efforts in looking into investment options that won’t endanger the security of their money.

In a six-month survey, an increase of more than 7 million individuals from more than 190 countries were found to be active and signed in on the platform.

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Richard Hines

By Richard Hines

Richard Hines is a respected news writer and analyst with a knack for uncovering the key elements of a story. His articles are insightful, informative, and thought-provoking, providing readers with a nuanced understanding of complex issues.