- January 16, 2023
You’ve probably heard ‘not your keys, not your coins’ plenty of times. The idea’s pretty simple. If you’re not in control of your private keys – like if your funds are stored on a crypto exchange – then you actually do not have control over your crypto. Whoever holds the private key controls your funds, even if you can still access them to buy, sell, and trade.
Unfortunately, the FTX collapse was a grim reminder to many about the perils of keeping digital assets on exchanges. The ripple effects from FTX’s collapse also led to the bankruptcy of crypto lender BlockFi and hedge fund Three Arrows Capital, among others. In addition, the new FTX CEO brought in to oversee the firm’s bankruptcy, John Ray, admitted he’d never seen “such a complete failure of corporate controls.”
Fortunately, Byte Federal’s ByteWallet allows you to securely store your digital assets while maintaining access to the traditional financial system with bank and wire transfer abilities, among other benefits. The non-custodial wallet also ensures you control your finances by truly owning the crypto you store.
Byte Federal's Focus On Empowering The Financial Revolution
FinTech software company Byte Federal remains focused on utilizing the “unique financial, technological revolution of cryptocurrency to restore economic power and prosperity to the people.”
ByteWallet users can access the tool on desktop, iOS and Android to
purchase Bitcoin and other well-known cryptos like Ethereum, Litecoin, Dogecoin, and Marscoin.
Those transacting with Bitcoin and Litecoin can create unlimited wallets, and Bitcoin users also have access to the second-layer Lightning Network to ensure fast and inexpensive transactions.
As a non-custodial tool, the ByteWallet gives users complete control over their private keys and has KMC and AML policies for enhanced security.
ByteWallet; Combining Crypto And Tradfi
What makes the ByteWallet stand apart in the crypto world? First, the tool is not just a digital asset but a gateway to traditional finance and a crypto-friendly bank account.
ByteWallet users can create a free traditional FDIC-insured bank account (without any monthly fees) with a routing and account number. As a result, ByteWallet users can perform bank transfers, wires, and capture checks, all while pushing funds to your bank or pulling them into the app.
Account holders can also set up a free physical and virtual Visa debit card to transact. ByteWallet’s access to traditional banking services ensures crypto users no longer face discrimination by conventional financial institutions and can seamlessly shift between crypto and TradFi options, especially since users can send funds for free to anyone.
Harnessing A Robust Network Of Bitcoin ATMs
ByteWallet users can also transact at any Byte Federal BATM. With a nationwide network of 1,000+ machines in the United States, ATM users can transact virtual currencies, gold, gift cards, and other assets.
ATM users have a $29,500 daily limit on converting crypto to cash and vice versa – significantly higher than many other similar platforms. In addition, every transaction made at a Byte Federal ATM is securely recorded, so users can access all receipts whenever needed.
Byte Federal’s FastLogin technology means an ATM user just has to scan their ByteWallet QR code for immediate login, ensuring a fast and secure transaction. The single sign-on technology emulates the process seen on Telegram and WhatsApp with decentralized authentication.
Those interested can visit Byte Federal’s website to see the FastLogin API Documentation.
Getting Started With ByteWallet
Are you ready to use the ByteWallet and take advantage of crypto and traditional financial access?
First, you’ll want to head to the Byte Federal website to download the wallet or go and find the tool on the Apple or Google Play app stores. After downloading, you’re free to make a crypto wallet. Next, you’ll need to create a Byte account to buy, sell, and trade crypto.
Remember, you can also transact at one of the Byte Federal ATMs to buy crypto, gold, gift cards, and other assets. If you’re looking to purchase crypto, have a picture ID, your phone with the ByteWallet (or a paper wallet with a QR code), and cash since most of our ATMs accept cash as a payment option.
Byte Federal wallet users can rest assured that all fees are built into their rates, meaning there are no hidden charges upon transacting. Additionally, ByteWallet users can reach out 24/7 via phone and social media for support. Unfortunately, many crypto platforms do not offer a reliable customer support option by phone, making Byte Federal unique.
Byte Federal's Wide Range Of Crypto-Focused Endeavors
The Byte Federal FinTech software company has a range of additional endeavors on top of its crypto ATM network and ByteWallet.
Byte Federal offers a digital advertisement program on its ATM systems. The company’s ad engine cycles advertisements through various machines across different regions while collecting engagement results for review. Ads can range from screensaver options to banner ads that pop up during checkout.
Byte Connect’s POS system empowers merchants to safely and securely accept crypto payments without worrying about varying processing fees. Instead, Byte Connect POS system users pay a flat monthly rate to accept leading cryptos like Bitcoin, Ethereum, Litecoin, and Dash. All you as a merchant have to do is enter the cost of the item in USD, let the customer select the desired crypto, and then have them scan a QR code to complete the payment. All transactions route through the POS’s interactive admin interface, which helps manage purchasing data in real time.
Byte Federal, ByteWallet Leveraging The Power Of Crypto With The Legacy Of Tradfi
ByteWallet users have the best of both worlds – access to a robust crypto wallet with the benefits of a traditional bank account with a routing number.
Due to its unique features, leading industry-grade security, access to physical ATM networks, and fast and secure transaction processing, the ByteWallet stands alone in the crypto world.
Get started with ByteWallet by visiting Byte Federal’s website to learn more about how you can take control of your finances with the tool.