P2P is a native model of Bitcoin functioning

Non-custodial services will become increasingly popular due to the more demanding regulation of the cryptocurrency industry. This opinion was expressed by a representative of mySecure in a conversation with FolkLog.

What the specialist says

After the centralized cryptocurrency exchange FTX announced its bankruptcy, companies producing hardware wallets noticed a strong jump in sales. We are talking about such giants as Ledger and Trezor. 

At the same time, the director of Paxful gave a recommendation to independently store Bitcoin and other digital assets. At the same time, the bankruptcy of many crypto projects, such as FTX or Terra, caused the tightening of regulation of digital assets. For example, the head of the SEC department made a statement that this year the cryptocurrency industry will become a priority in regulation. The situation is similar in the European Union, where the MiCA bill was adopted, which we wrote about earlier.

mySecure expressed the opinion that as a result of this, decentralization appeared and the development of the Internet Web 3.0 jumped rapidly. If the supervision of centralized sites increases, this trend will accelerate significantly.

The expert noted that last year, mass blocking of users on various services and platforms was carried out, and their assets were frozen. This completely contradicts the very essence of cryptocurrencies. Therefore, the P2P model will become native to Bitcoin, and the mySecure service itself launches a non-custodial service. Only in this case, the industry will be able to develop further, and users will be free to use cryptocurrency.

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