By Shelly Melancon (Switzerland)
Shiba Inu is set to be accessible to users of a Samsung-backed crypto wallet in the coming days. The wallet is unique and popular for its security protocol that deviates from the norm. The wallet will now support one of the most popular coins on the crypto market, Shiba Inu, and provide its users with trading and storage features.
ZenGo, the wallet that made history as the first password-free wallet in the world, has announced that it would provide its users with access to trade and store Shiba Inu. ZenGo is a keyless/passwordless crypto wallet that offers crypto trading and storage features to its users. Although it is a keyless wallet, wallet owners have secured access to their wallets and can perform transactions with complete safety. ZenGo deploys an AI-powered facial biometric system to generate and secure wallets.
ZenGo announced the launch of Shiba Inu on its platform on Tuesday. Speaking about the event, Ari Gore, ZenGo’s HoC had high praises for the Shiba Inu community which he described as being vibrant. Gore also praised the zest of the community and said that ZenGo is happy to work with them. The Shiba Inu community has grown in numbers since the memecoin went viral.
Samsung Invested in ZenGo
ZenGo is a crypto startup based in Israel. They have pioneered a new security protocol in crypto wallet technology. The protocol removes the need for seed phrases, passwords, and private keys which might overwhelm a user or lead to permanent loss of funds if the seed phrases get lost or compromised.
Also read:In April this year, ZenGo won funding from a number of investors to conclude its Serie A funding. The funding was worth $20 million and had Samsung as one of the biggest investors. Samsung’s backing of ZenGo is unsurprising given its focus on technologies and its foray into the digital space. Samsung invested in ZenGo through its venture capital fund.
Samsung’s backing has helped ZenGo to scale its wallet to offer more in terms of security and ease of use. The wallet startup has said that users will have access to send, receive, buy, trade, store, and sell Shiba Inu directly from its platform without a third-party integration.
Shiba Inu Adoption is Growing
ZenGo’s acceptance of Shiba Inu reflects a growing acceptance and adoption of Shiba Inu as a payment method. Shiba Inu is one of two popular memecoins that have taken the crypto market by storm in recent weeks. Shiba Inu now boasts of being accepted by major entertainment company, AMC, and now being traded on ZenGo.
The token has achieved a respectable success margin since its launch. Shiba Inu currently sits in 11th position on Coinmarketcap. It currently trades at $0.00004897 having gained 4.71% in the last 24 hours. Experts have predicted a higher price for Shiba Inu as its intrinsic value increases. If more businesses and companies adopt the token, the price is sure to increase.
Analysts have praised Shiba Inu and Dogecoin as better payment systems than Bitcoin and Ethereum.
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