30th April 2019, Hong Kong, China- Game-changing Cryptocurrency hardware wallet ELLIPAL has completed all testing and prep to launch a new version that supports the Binance Chain mainnet and its native BNB coin. The new service will be fully operational from April 30. Once the BNB tokens have been swapped, they can be sent back to ELLIPAL’s wallet to be used in the Binance exchange itself.
Binance has launched the Binance Chain mainnet on 23rd of April this year. With the BNB mainnet becoming online, Users should swap their ERC-20 BNB tokens to BEP-2 BNB on the Binance exchange by “withdrawing” ERC-20 BNB from the exchange to a Binance Chain address. The Binance chain is reportedly a more solid decentralized finance infrastructure for the blockchain industry and will be a game-changer thing for the industry this year.
Doing Exchange through ELLIPAL based on Binance DEX
Binance Chain is a project to drastically improve Binance DEX, a worldwide popular cryptocurrency exchange with a non-custodial design. Started by Binance, the DEX (decentralized exchange) allows users to trade right from their wallets. This means Binance will never hold your private keys because they can all be processed remotely in your wallet. Crypto users do not have to give away control of their coins in order to do trade in cryptocurrencies which is a big breakthrough in the industry as users currently have to relinquish their control over private keys to the exchanges currently operating around the world. This is an important innovation for security and control compared to other setups that may be compromised through hacking, identity theft or the like.
As a secure next-generation hardware wallet, the ELLIPAL team has long believed that decentralized exchanges are the future of crypto trading and it has now released the decentralized trading function based on Binance Chain on April 30th. What’s amazing here is how one can use Binance exchange directly right through the ELLIPAL Hardware Wallet. Not only does this mean its now a lot easier to trade, but also that your private keys are extremely secure inside ELLIPAL’s air-gapped hardware. Crypto investors will be more at ease and confident that their transactions are in safe hands.
What are the steps?
- ELLIPAL users should update their App and hardware wallet.
- Once the update is done, add the BNB coin to your account and transfer in some BNB coins.
- On the App, select Binance DEX and start trading.
- All transactions are signed by ELLIPAL Hardware Wallet.
ELLIPAL users can use ELLIPAL Hardware wallet to HODL their BNB coins and trade by Binance DEX safely and conveniently starting this May. There are more exciting things about to unfold in these coming months, so users can hold on tight. On top of it, to make things more thrilling, the company is giving out a 25% off as a discount on using the code “BNB” on ELLIPAL website to congratulate the newly launched Binance Mainnet.
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