The recently launched Kraken Wallet marks an advancement in cryptocurrency adoption. This self-hosted wallet is designed to simplify on-chain transactions.The Kraken Wallet emphasizes simplicity, security, and functionality with the overarching goal of expanding access to decentralized finance.

Access to Decentralized Finance: The Wallet's User-Centered Design

The multi-chain Kraken Wallet is a gateway to the decentralized financial ecosystem, regardless of whether an individual is a Kraken customer or not. It emphasizes privacy and security, enabling users to keep their digital assets and data safe with the support of Kraken's security protocols.

Kraken Wallet has an intuitive user experience that eliminates the need for complex network switching or managing multiple seed phrases. Key features include comprehensive portfolio tracking, support for multiple blockchains, integration with WalletConnect to access decentralized applications, and 24/7 customer support.

Wallet collects only the basic data needed to run. User activity is routed through Kraken's infrastructure to protect IP addresses and personal information from external disclosure. The wallet does not retain any user login information, email addresses, or KYC information.

Entering the crypto wallet market in sync with competitors

Kraken Wallet's security is enhanced by multiple layers of protection, including biometric authentication and encrypted user passwords. To ensure security measures, the wallet underwent a security audit by Trail of Bits, a company known for its cybersecurity expertise.

The launch of Kraken's new wallet puts it alongside competitors such as MetaMask, Ledger and Trezor in the bustling cryptocurrency wallet market. While Coinbase's product is popular, competitors such as Binance and OKX have also launched their own wallet solutions.