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tZero Launches New Hack Resistant Cryptocurrency App for Bitcoin and Ethereum Trading

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by Teuta Franjkovic · 3 min read
tZero Launches New Hack Resistant Cryptocurrency App for Bitcoin and Ethereum Trading
Photo: Shutterstock

The global leader in blockchain innovation for capital markets, TZero has launched its digital wallet and exchange services app (the “tZERO Crypto App”) for cryptocurrencies. The initial release will support Bitcoin and Ethereum purchases.

US retail giant Overstock’s crypto subsidiary tZero launched a digital wallet and exchange ‘tZERO Crypto’app, the company officially announced yesterday. The initial release of the app will support Bitcoin and Ethereum purchases.

The company said that their new mobile crypto app is a hack-resistant solution for trading and storing cryptocurrencies. Moreover, tZero’s private key recovery system will allow users to restore their funds in case if they lose their private keys or a mobile device.

From the firm they said that they are being committed to compliance and safety and will be utilizing biometric authentication for added security and ease of use.

Investors who want to participate in the global cryptocurrency market will be able to buy, sell and hold these digital assets directly through this App on their mobile phone, rather than using more vulnerable, third-party exchanges for custody.

tZero CEO Saum Noursalehi explained that the application will store private keys directly on users’ smartphones, which is expected to provide maximum security, in contrast to “more vulnerable, third-party exchanges for custody.” He said:

“One of my goals since I joined the company is to provide an intuitive user experience on both mobile and the web to trade all digital assets, including cryptocurrencies. The new app will become the foundation of trading all digital assets for tZERO, whether it’s art, real estate, or private companies.”

He added that in the company they are being focused on the development and commercialization of blockchain, the technology that underpins bitcoin and cryptocurrencies in general. He added:

“As you know, exchanges have gotten hacked before. What’s different in our case is that the tokens will be stored on your phones with your private keys, which we think is more secure.”

Patrick M. Byrne, founder and CEO of Overstock.com confirmed that tZERO Crypto is bringing a superb wallet into production, one with distinct advantages over other wallets currently in use.

“One of those is that with tZERO’s Private Key Recovery System, your digital coins are truly held by you, in your wallet, rather than on an exchange in a pot with other fungible tokens. Not only is this more secure (if your coins are held in your wallet and not on an exchange, people cannot steal your tokens by hacking an exchange), but in addition, it is more true to the cypherpunk ethos of decentralization through cryptography.

You do not face a risk in losing your passwords or devices. There are other reasons I believe that users are going to find the tZERO Crypto wallet superior to others on the market. In recent shareholders’ calls and an annual meeting, I emphasized that I believed that tZERO would have at least two significant announcements near the end of Q2. This is the first of them.”

This announcement seems to go along the bullish cryptocurrency trend that has shown scorching price rally this year, led by Bitcoin, which has soared more than 270% so far in 2019. After hitting an 18-month high past $13,000, Bitcoin last traded $11,401.07.

Altcoin News, Bitcoin News, Cryptocurrency news, Editor's Choice, Ethereum News
Teuta Franjkovic

Experienced creative professional focusing on financial and political analysis, editing daily newspapers and news sites, economical and political journalism, consulting, PR and Marketing. Teuta’s passion is to create new opportunities and bring people together.

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