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Eurexcoin.com, a leading digital currency trading platform on the European continent, just announced that it’s going to be enhancing its security and protection methods tenfold.
Eurexcoin.com Seeks to Enhance Its Security
The crypto space is wrought with fraud and illicit attacks carried out on crypto exchanges. Often, it’s either the exchanges themselves losing tons of reserve money, or it’s individual customers that wake up one day to see their wallets have been drained and are empty. Either situation is ugly and rough to contend with, and many companies are working hard to make sure these kinds of attacks end.
There are also plenty of concerns out there regarding crypto exchanges following the collapse of FTX in November. The protection of individual customer information was practically thrown out the window when the company went under, and the funds of individual traders were utilized (allegedly) to purchase luxury Bahamian real estate and pay off loans for an entirely separate firm.
Up to that point, such a degree of fraud was virtually unprecedented in the crypto arena, and it wasn’t long before FTX’s reputation as a leading trading platform transformed into one of filth and criminality.
John Smith – the CEO of Eurexcoin.com – explained in a statement:
We understand that security is a top concern for our customers, and we take this responsibility very seriously. We have invested heavily in our security infrastructure to ensure that our customers can trade with peace of mind. We are constantly looking for ways to improve our platform and provide a better trading experience for our users. Our new trading protocol is the result of extensive research and development, and we are confident that it will be a game-changer in the cryptocurrency industry.
Among the tools the company will be utilizing to ensure its customers remain safe are multi-factor authentication, cold storage, and advanced crypto algorithms. In addition, Eurexcoin.com will also regularly engage in security audits to ensure its systems are never subjected to any loopholes or vulnerabilities.
Furthermore, the enterprise is implementing a new innovative trading protocol designed to boost the speed of trades and limit opportunities for price manipulation down the line. The company explained in a separate statement that it’s consistently looking to evolve and meet the needs of all its users.
Should All Exchanges Become Decentralized?
While this certainly sounds positive, there’s still a prevalent argument making its way through the crypto space following incidents like FTX. Many are wondering if all exchanges should enter the defi realm and thus give traders full access and control of their digital tokens. Crypto journalist Tracy Wang said:
A company like FTX was supposed to hold your assets, but they ended up lending them out. This is like taking power back and being… in charge of your own money.
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