• BonkBot is transitioning to a non-custodial model where users will have full control over their transactions
• BonkBot is enhancing security measures with 2FA verification, token whitelisting, and future additions like Face ID and passkeys
• BonkBot will implement a seed phrase wallet model allowing access to multiple wallets with a single phrase
Popular telegram trading bot BonkBot has announced that it will be transitioning to a non-custodial wallet model for its users. This change will give users more control over their funds while also enhancing security.
BonkBot’s Transition to Seed Phrase Wallets
BonkBot will be switching to seed phrase wallets, which allow users to access their funds with a single recovery phrase. Users will no longer need separate passkeys for each wallet.
This seed phrase model is more convenient for users while still maintaining security. Users have full control over their private keys with this approach.
Enhanced Security Features
In addition to the seed phrase wallets, BonkBot is implementing other security enhancements:
- 2FA verification for withdrawals
- Private key export
- Optional token whitelisting
- Integration of face ID and passkeys in the future
According to BonkBot, their “next-gen Key Management System is the most advanced, secure and performant system of its kind.” The improved security will help protect users’ funds from threats like hacking attempts.
Conclusion
By transitioning to non-custodial wallets and enhancing security, BonkBot is empowering users with more control over their cryptocurrency. The seed phrase approach also streamlines the wallet management experience. Overall, these changes will benefit BonkBot users and likely attract more customers to the platform.
