Tesla CEO Elon Musk, known for his support for cryptocurrencies such as Bitcoin (BTC) and Dogecoin (DOGE), hit a wallet app from the ground up.
Crypto trading and wallet application Freewallet, In his post dated February 8 He touched on the rise of DOGE. Musk, who has a close relationship with Dogecoin, posted the wallet application He replied, “Your app sucks”.
Musk, in another post stated as follows:
“All crypto wallets that do not give you your private keys should be avoided regardless.”
Decentralization, one of the main features of crypto currencies, is an element that is highly regarded by the community. For this reason, central exchanges and wallet applications that store users’ private keys are not considered safe by many crypto users and are viewed against the nature of cryptocurrencies. There’s even a popular saying in the community about this topic: “If it’s not your keys, it’s not your cryptocurrency.”
Freewallet has the “Where are my private keys?” He answers his question as follows:
“Freewallet is a wallet that offers custody service. Therefore, it is not possible for us to give private keys to individual wallet addresses. If we do give private keys, you may not be able to take advantage of our secure cold storage technology, which is critical to the security of your money.”
Elon Musk is closely interested in the cryptocurrency market. The billionaire businessman had previously added the “#Bitcoin” hashtag to his Twitter bio, causing BTC to jump 20 percent within minutes.
Finally, Musk’s company, Tesla, had a huge impact by buying $ 1.5 billion worth of BTC, and Bitcoin started a rapid rally, rising to $ 48,000.
Musk is closely interested in Dogecoin as well as Bitcoin. All posts by the Tesla CEO regarding cryptocurrency are triggering DOGE to take off.