Takeaways:
The EU is trialling a pilot exercise for a Central Bank digital currency (CBDC) in 2027.
The initial launch across some EU countries is planned for 2029.
However, CBDCs come with privacy concerns.
Best Wallet lets you seamlessly manage crypto without privacy or security concerns.
The European Central Bank (ECB) announced on Thursday that progress is continuing on the groundwork for a Central Bank digital currency, bringing the ‘digital euro’ into fruition sometime around 2029.
The ECB said that ‘the Eurosystem should be ready for a potential first issuance of the digital euro during 2029.’ This, however, is contingent on ‘a working assumption that the European co-legislators will adopt the Regulation on the establishment of the digital euro in the course of 2026.’
Legislation for a EU CBDC has been in discussion since 2023. However, the project has faced major backlash from European members and individuals concerned about the potential privacy overreach.
If the EU does offer its own CBDC, it will join the ranks of Jamaica, Nigeria, and the Bahamas, which have also launched their own national digital coins. Close to 50 countries are also trialling a CBDC, according to the Atlantic Council.
While the advent of CBDCs should be good for the overall perception of crypto, they come with many of the issues associated with nationally distributed fiat. The decentralized nature of crypto is better for privacy, but it’s important to offer tools that allow the average user to make sense of it all.
That’s where Best Wallet comes in. It’s an easy-to-use mobile-first wallet that makes trading crypto as simple as using a bank app. So, let’s take a closer look at why transacting crypto using Best Wallet might be better than relying on a CBDC.
Best Wallet – Easy Crypto Trading With a Mobile-First Wallet
The Best Wallet app makes trading easy with a multi-chain crypto wallet you can manage from your mobile phone. With an interface designed for crypto newbies and expert traders alike, Best Wallet is a powerful crypto trading tool without all of the needless complexity common in other digital wallets.
The EU recognises the value of making a Central Bank digital currency easy to use across the eurozone, but stablecoins already fit the bill – and you can already trade them using Best Wallet. The main issue with stablecoins is that they’re fragmented across different blockchains, but this is why Best Wallet works well.
It supports a wide range of blockchains in a single app, so you won’t have to track down different software wallets just to check in on how your crypto portfolio is doing. With Best Wallet, you can trade on these blockchains:
That’s not all, either. Best Wallet intends to roll out support for up to 60 different blockchains, making it the true all-in-one app for trading crypto.
Best Wallet isn’t just ideal if you’re managing existing crypto. It’s also great for growing your portfolio thanks to an in-app marketplace where you can buy tokens from vetted presales before they’re available to the wider market. Buying tokens is as easy as funding your wallet with existing crypto or fiat by card.
Don’t worry about managing your passwords, either. Instead of using hard-to-remember seed phrases, Best Wallet keeps your assets safe using Fireblocks’ MPC-CMP technology. Simply upload your encrypted backup to the cloud and you’ll have a version of your wallet you can access at any time.
Even if your device is stolen, Best Wallet has your back. All you need to do is download the encrypted backup into a new device running Best Wallet and you’ll be back trading and purchasing crypto without any interruptions.
Best Wallet Token ($BEST) – Adding Value to Best Wallet
The best way to use Best Wallet is with $BEST. It’s the official utility token of the Best Wallet App and offers several ways to get the most value when trading on Best Wallet. First off, holding $BEST will lower the transaction fees you pay when buying crypto via the app.
In addition to keeping your fees low, $BEST will give you a head-start on finding – and buying – the best presale tokens in the market place with exclusive early access. These tokens can then be entered into the upcoming Best Wallet staking aggregator, where $BEST holders receive high APY on staking rewards.
Holding a stack of $BEST also enables you to participate in the Best Wallet DAO for community governance. You’ll be able to vote on existing proposals for the app’s features and support, as well as suggest future blockchains on Best Wallet.
With so much utility, it’s not surprising the $BEST token is already in high demand. The presale has raised over $16.7M in token reservations, pushing the price of the $BEST token up to $0.025865.
Don’t delay, however, as it’s a dynamic presale. The price goes up in stages, while the staking APY lowers as more holders stake their $BEST.
Buying $BEST makes sense if you’re already a Best Wallet user. Download the Best Wallet app today and check out its innovative features before the release of the $BEST token. Up until release, $BEST also comes with a presale staking bonus of 79% per annum if you lock in your stake now.
