The Bitamp sign up and sign in processes are instant, instead of the annoying username, password, and 2FA set up and KYC onboarding processes that more centralized services require.
In addition, since there are no usernames and passwords, users can know that rest assured, even if they are SIM swapped by a growing number of cybercriminals, their Bitamp account will never be associated with an email, password or phone number. Instead, their Bitcoin wallet will only correlate to a 12 word seed phrase that no one else has previously seen.
The beauty of Bitamp is that when you lose your phone or your 2FA authenticator or access to your email, your Bitcoin will still be recoverable.
The fact that Bitamp’s wallet is not correlated to any other personally identifiable information such as one’s name or social security number will let the user know that rest assured, no subpoena or hack will allow their information or funds to be exposed.
This all boils down to users’ control over their own funds. Not having access to one’s private key or seed puts one at risk of losing one’s Bitcoin.
Time and time again, crypto exchanges and custodial wallets have been hacked, dissolved or become insolvent; leaving their members with empty wallets. Users must understand that although it may be easy to buy Bitcoin on exchanges such as Coinbase and Binance, taking control of your Bitcoin means withdrawing and holding one’s Bitcoin in one’s own non-custodial wallet.
Custody of one’s own assets means financial independence.
How to Obtain Bitcoin
Before you can buy Bitcoin users will always need a cryptocurrency wallet. Coinbase, Binance, and Kraken already have built-in digital wallets.
However, these wallets are “custodial” wallets…