The hardware wallet Trezor has announced a new feature for its wallet. Users can now buy and trade cryptocurrencies without leaving the device. At the moment, the new feature is in beta phase. This would allow users to easily exchange their funds without compromising them.
Trezor’s New Functionality
The hardware wallet market has become very competitive. WIth more participants and a strong competitor on the other side, Trezor is working to offer new services. Users using their Trezor wallet would now be able to swap cryptocurrencies without leaving the wallet.
Feature release: Our beta servers now allow you to exchange cryptocurrencies directly in the Trezor Wallet interface. Feel free to test this awesome feature and make sure to leave your feedback below!https://t.co/p9edjfUF4p pic.twitter.com/QePd0Lqkcu
— Trezor (@Trezor) September 19, 2018
The company announced on Twitter that their beta servers allow users to exchange virtual currencies directly in the Trezor Wallet interface. The wallet has a new exchange section that allows individuals to purchase cryptos from exchanges. After it, is possible to swap these assets using the Trezor wallet.
Users will have to connect their devices to the computer and log in. After it, users will see that there is a new tab named ‘exchanges.’ After accepting the disclaimers, users are able to start trading their favorite virtual currencies.
At the moment, not all the crypto assets in the market are available for Trezor. With the new functionality, it is possible to swap BCH, ZEC, XRP, LTC, XMR, DASH, DOGE, BTC and many others such as ETH and ETC.
Trezor will not be applying Know-your-Customer (KYC) rules in order for users to enjoy the latest features.
One of the representatives of the company wrote on Twitter:
“Just to clarify, we won’t run KYC. The exchanges might. (We do not offer exchange services, they all go through third parties.). It’s an optional service. If KYC will be enforced by those services, user will know it and can refuse to continue. Decentralized exchanges are, of course, being evaluated.”
Trezor has been one of the most important hardware wallet manufacturers in the market. At the moment, Ledger, its main competitor, has not offered this possibility to users.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.