How will MetaMask Benefit You?
?Optional Custodial: Connect Metamask wallet to log in, trade, earn and borrow as the preferred wallet for all services on the platform.
?One click process: No more cumbersome form-filling.
?Hassle free-login: No need to remember yet another username/password pair.
?Saves Time: The whole process takes seconds.
What is CeDeFi & the Need for it?
Custodial platforms tend to hedge assets under custody on a scale of risk-classified markets, including DeFi services like staking, lending, farming, etc., and/or actively trade the assets on derivatives markets. Therefore, custody should be a choice for the end user, not a requirement to use the services.
CeDeFi offers the same features as DeFi while also offering the added security that comes with being centralized, allowing people to access DeFi products while still allowing them to leverage the advantages of CeFi systems. ByteX as a platform will consist of CeFi and DeFi; the whole platform is a hybrid web2.0 + web3.0. It is designed to allow both custodial and non-custodial access to its services.
Optional Custodial Wallets on ByteX with MetaMask
Login with MetaMask was the first step towards making your ByteX account more user-friendly and moving towards a CeDeFi architecture.
Here are some additional features coming in the future:
?Earn with MetaMask: You will be able to connect through MetaMask to Earn with Stablecoins on ByteX.
?Trade with MetaMask: You will be able to Buy & sell cryptocurrencies directly from the connected MetaMask wallet.
If Metamask is not connected or the user prefers to use the custodial wallet, then Binance & OKX-powered user wallets are provided with an insured custody partner; Copper.
How to Enable MetaMask Login?
To enable MetaMask login for your ByteX account, click on the top right icon → Account Settings→ Connect Wallet → Confirm Your Wallet.
Once you have connected and confirmed your MetaMask wallet address, you will be able to login to your ByteX account using MetaMask.
?To use MetaMask on the Web for logging, refer to the article here.
Stay tuned for more feature updates and announcements.
ByteX is a licensed & regulated CeDeFi platform operating in Canada, USA, the European Economic Area, and India. Being a KYC verified platform with compliant DeFi architecture, ByteX aims to bridge the best of both worlds and redefine the crypto credit infrastructure with transparency.
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The commentaries contained herein are provided as a general source of information based on information available as of Oct 13 2022. Every effort has been made to ensure accuracy in these commentaries at the time of publication; however, accuracy cannot be guaranteed. Market conditions may change investment decisions arising from the use or relevance of the information contained here. Bytex. makes no representation or warranty to any participant regarding the legality of any investment, the income or tax consequences, or the suitability of an investment for such investor. Prospective participants must not rely on this document as part of any assessment of any potential participation in buying and selling of virtual currency assets and should not treat the contents of this document as advice relating to legal, taxation, financial or investment matters. Participants are strongly advised to make their own inquiries and consult their own professional advisers as to the legal, tax, accounting and related matters concerning the acquisition, holding or disposal of a virtual currency. All content is original and has been researched and produced by Bytex.
Keep up the investing spirit.