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Elon Musk Slams This Cryptocurrency Wallet, Here's Why

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Wed, 02/10/2021 - 08:08
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Yuri Molchan
Bitcoin Supportive Elon Musk has publicly bashed this crypto wallet on Twitter for the flaw always cited by the crypto community - private keys
Elon Musk Slams This Cryptocurrency Wallet, Here's Why
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The richest man on Earth and the CEO of Tesla, Elon Musk, has taken to Twitter to criticize this crypto wallet app, posting two tweets slamming this cryptocurrency platform.

Musk first tweeted:

Your app sucks.

In the next tweet, he explained the reason for this harsh criticism, stating that the wallet does not allow its users to have their private keys, referring to the issue often cited by Crypto Twitter about centralized digital exchanges: not your keys, not your crypto/Bitcoin.

Any crypto wallet that won't give you your private keys should be avoided at all costs.

Here is what the FAQ section of their website says regarding private keys.

These tweets by Musk came as a response to a tweet by the wallet's team, which tried to promote its app using Musk's name and his love for Dogecoin.

Earlier this week, Tesla announced its acquisition of a staggering $1.5 billion worth of Bitcoin added to its balance sheet.

Related
BREAKING: Ethereum (ETH) Soars Above $1,800 First Time in History

This sent the price of the flagship crypto first to its all-time high of $44,000, and the following day BTC hit $48,000.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.