Fox Wallet has launched an innovative new entrant to the crypto wallet market, allowing both veterans as well as newcomers in the crypto space to safely participate in the world of DeFi, while bringing CeFi under one roof. FoxWallet is simple to use, safe and most importantly, secures its members through crypto-insurance provided free of charge for all cryptocurrencies stored on the platform.
Fox Wallet has advanced security features which boasts MFA (Multi-Factor Authentication) to initiate outgoing transactions as well as multiple blockchain-based checkpoints to enhance security. As a custodian, the company splits private keys into 3 parts, hosting them in separate safe locations with the 3rd key-shard of the private keys being held offline.
Fox Wallet allows users to create multiple cryptocurrency vaults where cryptocurrencies can be safely stored. Users can create up to 5 secure vaults and store one of each supported type of cryptocurrency wallet in each vault. Getting on-ramped is easy for international users with a convenient credit card integration as well as a compliant integration for South African users through an instant EFT service.
Our vision is to make it easy for everyone to participate by making sure we present a way to interact with the world of crypto in a safe manner
“There can be no doubt that crypto currencies are the present and the future. I believe this is an opportune time for Africa to catch up to the rest of the world, by actively participating in crypto currencies and blockchain technology. Our vision is to make it easy for everyone to participate by making sure we present a way to interact with the world of crypto in a safe manner and remove or reduce the technical debt of cyber-security and getting into defi platforms.” said Lonwabo Fololo, Co-Founder and CEO of Fox Wallet
Fox Wallet not only offers a range of transactional capabilities, but also the ability for users to manage their cryptocurrency portfolios and participate with popular DeFi platforms across multiple protocols as the technology stack aims to support up to 17 blockchains and up to 500 cryptocurrencies. Currently, users can securely send, receive and buy BTC, ETH, LTC, XRP and USDC with more tokens and coins being added based on user demand with added support for asset-backed security tokens on the roadmap as well.
In the future, users can also look forward to a VISA Card integration to spend their dollar-pegged cryptocurrency as a convenient off-ramp for their cryptocurrency at the 60 million VISA merchants operating globally.
“Creating a wallet is usually the first experience people have in the blockchain world, we want to make sure that the experience is not only safe and secure but that it lasts long enough to leave a legacy” said Neo Check, Co-Founder and CMO of Fox Wallet.
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