Selfkey Coin is the native cryptocurrency of the blockchain-based identity platform, Selfkey. Selfkey’s technology provides a platform for individuals, companies, exchanges, fintech startups, and banks to manage identity data. The team has been working on decentralized identity with companies like Standard Chartered Bank, Bitmax exchange, EQIBank, and GSR since 2014.
What is Selfkey (KEY)?
Selfkey (KEY) aims to revolutionize the KYC onboarding process and adhere to the culture of Self Sovereign Identity, where each individual should own and control their identity.
Additionally, the SelfKey wallet is a free, open-source, non-custodial wallet that allows users to securely store and transfer both digital assets and identities. Users can interact in the SelfKey marketplace, apply for real-world products like bank accounts or company formations with “one click,” and make payments with KEY coin.
According to the platform, traditional KYC processes are costly and often insecure, as data is stored in centralized databases. SelfKey uses a decentralized approach and cryptographic technologies to significantly reduce the cost of an identity interaction, improve security, and enhance customer experience.
Furthermore, during its token sale in January 2018, Selfkey reached the “Public Sale Max Cap” in 11 minutes, making a sale of 22 million dollars. The blockchain identity management market is expected to grow from 90.4 million dollars in 2018 to 2 billion dollars by 2023, at an annual growth rate of 84.5%.
Also, the SelfKey Foundation received the Regulatory Sandbox License (RSL) from the Mauritius Investment Board. This RSL license allows SelfKey to develop identity products with higher regulatory certainty, in line with its mission to enable individuals to truly own and control their digital identities. Being approved by the Mauritius BOI reaffirms the project’s potential. Mauritius is becoming an international hub for blockchain initiatives, known as “Ethereum Island.”
In addition, the KEY token-powered SelfKey Marketplace, priced against the USD, offers access to various services with complete transparency in documentation requirements, cost, and total transaction time.
Furthermore, as Selfkey operates locally, users’ information is stored on their devices, meaning user data remains unaffected in case of an attack on Selfkey servers. The fact that the Selfkey wallet is completely open-source and free is also considered a significant feature.
KEY Coin Review
Looking at KEY Coin reviews, investors generally see this cryptocurrency as a mid or long-term investment.
Considering the growing importance of identity information, the platform behind Selfkey coin is also seen as promising. For more definitive information about Selfkey coin, it’s useful to look at current figures and historical levels.
At the time of writing, KEY Coin is trading at 0.0027 dollars, ranking 529th in market capitalization with 9,448,199 USD. It’s also worth mentioning that Selfkey (KEY) saw its lowest point at 0.0005 dollars on April 16, 2020, and its highest at 0.0903 dollars on January 15, 2018.
According to reports, there are currently 3,462,807,381 Selfkey Coins in circulation, and the total number is expected to be 5,999,999,954 KEY Coins.
How to Buy Selfkey Coin?
Selfkey Coin can be quickly, reliably, and easily purchased through Binance, the largest cryptocurrency trading platform in terms of market volume.
Listed on Binance on June 27, 2018, Selfkey coin is available to users in KEY/BTC and KEY/ETH trading pairs.
