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What is BAKKT (BAKKT)?

BAKKT is a digital asset platform that aims to bridge the gap between traditional finance and the cryptocurrency ecosystem. Launched in 2019 by Intercontinental Exchange (ICE), BAKKT provides a regulated infrastructure for individuals and institutions to buy, sell, store, and spend digital assets. The platform initially focused on Bitcoin futures trading but has since expanded its offerings to include a variety of digital assets, enabling users to engage with cryptocurrencies in a secure and compliant manner. BAKKT's mission is to make digital assets accessible and usable in everyday transactions, thereby driving mainstream adoption.

Who are the Founders of BAKKT?

BAKKT was founded by a team led by Kelly Loeffler and Adam White. Kelly Loeffler, who served as CEO, has a strong background in finance and technology, having previously held executive positions at ICE. Adam White, the former COO and now a prominent figure in the crypto space, was instrumental in the development of BAKKT's strategy and operations. The company also benefited from the expertise of other key executives from ICE and the financial sector, creating a robust leadership team committed to advancing the adoption of digital assets.

How does BAKKT Work?

BAKKT operates as a comprehensive platform that facilitates the trading, storage, and spending of digital assets. It offers several core services:

• Trading: BAKKT allows users to trade Bitcoin futures and spot markets, providing a regulated environment for institutional investors and retail traders.
• Custody: The platform offers secure custody solutions for digital assets, ensuring that users' cryptocurrencies are stored safely in compliance with regulatory standards.
• Digital Wallet: BAKKT provides a digital wallet that enables users to hold, send, and receive various cryptocurrencies. This wallet can also be used for making purchases with partner merchants.
• Payment Solutions: BAKKT has integrated payment solutions that allow users to convert their digital assets into fiat currency for transactions, enhancing usability in everyday purchases.

By combining these elements, BAKKT aims to create a seamless experience for users transitioning between digital and traditional financial systems.

Top Use Cases of BAKKT

BAKKT's platform supports several significant use cases:

• Institutional Trading: With the infrastructure for trading Bitcoin futures, BAKKT caters to institutional investors looking to hedge against volatility and gain exposure to cryptocurrencies.
• Retail Adoption: BAKKT's partnerships with various merchants enable users to spend their digital assets in real-world transactions, promoting the use of cryptocurrencies in daily life.
• Digital Asset Custody: Institutions can utilize BAKKT's secure custody solutions to store large amounts of digital assets, which is crucial for regulatory compliance and security.
• Rewards and Loyalty Programs: BAKKT has introduced features that allow users to earn rewards in Bitcoin through loyalty programs, incentivizing engagement with the platform.
• Education and Resources: BAKKT provides educational resources and market insights, helping users understand the digital asset landscape better.

How to Keep your BAKKT Safe?

Ensuring the safety of your BAKKT account and digital assets is paramount. Here are some best practices:

• Enable Two-Factor Authentication (2FA): Always activate 2FA on your BAKKT account to add an extra layer of security beyond just a password.
• Use Strong Passwords: Create complex passwords that combine letters, numbers, and special characters. Avoid using easily guessable information.
• Monitor Account Activity: Regularly check your account activity for any unauthorized transactions or changes to your account settings.
• Keep Software Updated: Ensure that your devices and the BAKKT app are updated to the latest versions to protect against vulnerabilities.
• Be Wary of Phishing Scams: Always double-check URLs and be cautious of unsolicited emails or messages asking for your credentials.

By following these practices, users can significantly reduce the risk of unauthorized access to their BAKKT accounts and digital assets.