- Kraken launches self-custodial mobile wallet for eight blockchains.
- Kraken Wallet supports NFTs and DeFi, emphasizes open-source development.
- Kraken prioritizes privacy, minimizes data collection, and avoids KYC requirements.
The Kraken Wallet represents the most recent expansion of Kraken’s suite of products. This self-custodial mobile wallet enables users to oversee their cryptocurrencies across eight prominent blockchain platforms: Dogecoin, Ethereum, Solana, Optimism, Base, Arbitrum, and Polygon. With the Kraken Wallet, users maintain complete sovereignty over their cryptocurrencies, ensuring that convenience does not come at the expense of security.
Designed as a versatile instrument for navigating the broader ecosystem of digital assets, the Kraken Wallet is equipped to manage non-fungible tokens (NFTs) and facilitate various decentralized finance (DeFi) activities. In this initiative, Kraken aligns with other major exchanges offering comparable services yet distinguishes itself through a dedication to open-source development.
Emphasizing Privacy
To bolster the security of the Kraken Wallet, Kraken has published its source code on GitHub. The code is now accessible for scrutiny by developers worldwide, which could lead to enhancements and the identification and rectification of security vulnerabilities. Kraken’s adoption of an open-source approach improves the wallet’s security and builds trust within the cryptocurrency community.
Kraken’s latest wallet prioritizes user privacy by minimizing data collection. It protects users’ IP addresses and operates without requiring login credentials, email addresses, or know-your-customer (KYC) information. Kraken underscores the significance of user privacy by asserting that it does not even collect internal app performance metrics.
Despite its strong security features, the Kraken Wallet is technically classified as a hot wallet because iOS’s CryptoKit does not support secp256k1, the cryptographic elliptic curve used.
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