Binance (World’s largest cryptocurrency exchange) has plans of integrating hardware wallets with its Decentralised Exchange in the coming future. The CEO of Binance, Changpeng Zhao in one of his tweets officially confirmed that the decentralised exchange would support hardware wallets right after it’s launch. Changpeng’s tweet stated ‘Binance DEX will support hardware wallets from day one of launch. So that you can be sure your private keys never leave your device.’
Even though the news was confirmed by Chengpeng, which hardware wallets will be included in this integration is still not specified. According to speculations made by a few crypto enthusiasts, hardware wallets such as Ledger, KeepKey and Trezor are most likely to be a part of this integration. A few Binance enthusiasts believe that Binanace is killing it in the space and that Binance will be the most secure crypto trading DEX.
A lot of users are unclear concerning the role of Binance Coin (BNB) (Exchange’s native token). Many users are optimistic about staking opportunity for this twelfth largest coin in the market. The announcement was made once Binance OTC (Over the counter) trading desk was launched with the special spotlight on trades in extensive volumes (Over 20 Bitcoins or $70,000.)
Earlier this month, Bittrex (The United States based cryptocurrency exchange) also launched its own OTC trading desk with a total of 200 crypto assets on the Bittrex platform. Bitfinex also launched its OCT desk in the year 2016. According to sources, Coinbase has plans of doing the same in the coming future.
Although the financial regulator in the United States – The SEC (Securities and Exchange Commission) has already warned the crypto industry essentially noting that decentralised exchanges are supposed to comply with the laws, users are still considering these exchanges as a chance to work around identification laws.
EtherDelta (an Ethereum based decentralised exchange) was charged over exchanges failure to comply the laws spelt out. As a result, Zachary Coburn paid penalties and interests worth $3,88,000 for the same.