thenewscrypto.com
- SBF announced the launch of the new functionality on their platform in a recent tweet.
- There is a vocal minority who worry it will increase the prevalence of phishing.
The FTX exchange has come a long way since it first opened in May 2019. More than 250 cryptocurrencies and 300 market pairings are available for spot trading on the exchange, which was established by Sam Bankman-Fried. To take the market to the next level, Bankman-Fried has always had a creative perspective.
SBF announced the launch of a brand-new functionality on its platform in a recent tweet. According to the information provided in the tweet, it is possible to transfer fiat money or cryptocurrency to anybody using only their email address or phone number.
More Convenient User Experience
Right after FTX’s Fried tweeted about the new function, the crypto community began asking questions about it. The issue of how a person who doesn’t have a cryptocurrency wallet may get it was a frequent one.
It has been made clear by SBF that, in such a case, the recipient would be notified via email with further instructions on how to retrieve the monies. The email will include a link that the recipient must click in order to create an account with FTX and get the amount. Funds will be sent after the user’s identification has been confirmed.
What happens if the recipient fails the compliance check, or if the email is mistyped, was another question that arose. According to SBF, in such cases, funds are finally sent back to whomever originally sent them.
Even while the vast majority of people think this is a neat addition, there is a vocal minority who worry it will increase the prevalence of phishing. A lot of the features that FTX has included are meant to make the user’s experience more convenient. It has also been spreading its wings internationally to attract a larger following.
Recommended For You:
Elon Musk Rejected FTX CEO’s Investment Offer of $8B-$15B