Binance use who are not in the loop of what their exchange was up to a few days ago got a scare when the popular outfit went down for maintenance. However, this did not last long and immediately; the platform announced it was adding Selfkey (KEY)) as a new trading pair. Addition of KEY token is a clear indication of the admiration the token is getting from the crypto verse.
Selfkey is self identity system that is helping individuals and companies the power to own their identity while allowing them easy access to immigration, financial and digital coins. This is a very critical entrant into the crypto-sphere and is about to disrupt the way you interact with the privacy of your identity. The system is currently riding on the Ethereum Ecosystem and is a new innovative token with the potential of various real world use cases.
What is Selfkey Token Addressing?
Simply put, the system seeks to give the user the freedom to manage digital identities and the ability to purchase goods, services and other digital assets with ease. The platform is secure and transactions are instant. It also comes with a wide range of over 250 products and services in its portfolio for users to choose from.
With the application, you will be able to secure your own identity through its native wallet. This is a key feature that makes it easy to store and spend your KEY tokens or just convert them to other digital coins anytime you need to. The Wallet is your entry into the Selfkey marketplace and allows you to buy all digital products it listed without using a third party.
The KEY token fields the platform economy; by paying for all in-house services, you are not only enriching your lifestyle but also increasing the token circulation and adding traction to its value. With the app, you are also able to notarize all your digital identities without exposing them to fraud and hacks.
With Selfkey, you do not have to storing your digital identities in multiple apps. Instead, you can use the app to store them on the system this grants you or organizations easy verification. This makes it even easy to manage your bank accounts and, track real estate property tracking among others
All your information is encrypted in a central depository and can only be accessed by you or a party you grant access. As long as you do not want to share your identities, they remain under key and lock in the systems servers. As the name suggests, this is your self-key that puts you in control of your Identity Management in a process referred to as Self Sovereign ID (SSID) and you can only transfer its value using the KEY token.
Selfkey (KEY) Use Cases
This is a decentralized Identity management system and give you control of information that you deep apt to share. It comes in handy to speed up KYC processes at very low fees. You can use the unique system to digitally sign documents that can be authenticated.
The platform is still in the beta stage and more functions are in the offing and some of these will be able to keep you covered against cyber identity theft that has been growing over the years. This makes the token worth investing in before it is invaded by institutional investors and other whales in the market.
This is a usable token and you can comfortably use it to pay for services on the platform as well as trade it with select coins. At the time of compiling this report, the KEY token is trading at $0.012305 against the dollar after gaining 64.98%, 64.57% to Bitcoin and 62.99% to ETH after the last 24 trading hours.