News is hitting the streets that a blockchain investment company called Decentralised Capital could launch the first cryptocurrency vault in Australia. This would be the first ever cold storage vault of its kind to store digital assets in the nation, which is great news for Aussie crypto users looking for solutions to secure their digital currencies.
Decentralised Capital has announced that the vault will be created with the help of Custodian Vaults, which is a subsidiary of the Pallion group, the precious metals firm. As the first cryptocurrency vault in Australia, the demand for such a thing is already reaching fever pitch.
Taking advantage of crypto growth in Australia
The move to create the vault is geared to facilitate Australia’s growing crypto industry, providing a much-needed solution for those who are in desperate need of digital currency storage.
The founder and director at Decentralised Capital, Stephen Moss, as already pointed out that the first ever cryptocurrency vault in Australia comes at a time when the market is evolving and is a sign that bitcoin is on its way to becoming a trusted long-term asset.
Although crypto is revolutionizing the financial and economic blueprint across the planet, with major hacks and cryptocurrency thefts seemingly taking place every week, it is more important than ever before to bolster confidence for users and to offer serious storage solutions. Hundreds of millions of dollars of crypto have been stolen over the past few months alone, so now is the time to help protect the industry.
Groundbreaking cryptocurrency vault in Australia
Decentralised Capital is planning to take it to the next level by launching this inaugural cryptocurrency vault in Australia, with Moss recently telling the Australian Financial Review that, “This is a solution for the next phase of the industry and it gives real security…You can’t hack your way into the safe. In my opinion, bitcoin will not be remembered as the bubble, but the pin. While the short-term future of bitcoin may be debatable, the blockchain and its benefits are not.”
Moss was very honest in his interview, citing that security and reliability are the main aims of the custodial company. Cold storage is not a new idea, as a vast majority of crypto users already use USB devices of some kind to store and protect their digital assets. But even those devices are open to hacks every time you connect them to the internet. This is the massive issue of digital theft that Decentralised Capital is attempting to attack.
Moss finished off by telling the Australian Financial Review that his company will give users direct access to their funds that will use a combination of security features, CCTV monitoring, biometric identification, PIN numbers, physical surveillance and even alarm systems in a bid to protect your digital assets.
The launch of the first cryptocurrency vault in Australia is a great move for the local industry and a well-researched solution to the security needs of the modern day crypto user looking to protect his/her digital currencies from cyber theft.