FINANCEX: ENSURING SECURITY AND PRIVACY IN CRYPTO TRADING
The world is yet to recover from the breakthrough technology, blockchain which was invented by Satoshi Nakamoto in the year 2009 as a public ledger for Bitcoin. Ever since then, thousands of cryptocurrencies have been created using the technology of blockchain.
Cryptocurrencies were created as an alternative to Fiat currencies due to the centralized nature and structure responsible for its distribution. Therefore, in no time individuals, investors and business open their hearts to cryptocurrencies due to its decentralized nature as opposed to Fiat. This led to establishment of various crypto exchanges just like financial institution, carrying out the function of providing users with a medium for trading cryptocurrencies.
In no time cryptocurrencies have recorded an exponential growth since 2009 which saw the creation of Bitcoin, with a current market capitalization of $255 billion which is expected to rise to higher levels in coming years as it gains more adoption around the world.
However, due to the problem of security and privacy associated with existing cryptocurrency exchanges today, most persons are scared of adopting cryptocurrencies as a medium of payment and execution of transactions.
According to statistics, out of a total population of 7 billion people, only 50 million which is less than 1% of the total population are currently involved with cryptocurrencies. Individuals and investors value security and privacy when dealing with exchanges, but since none of the existing crypto exchanges can provide that, they shy away from adopting cryptocurrencies. This ultimately account for the minimal adoption of cryptocurrencies standing at less than 1% of the total population.
This challenge of security and privacy associated with crypto exchanges is due to the following:
Porous Security Architecture: most exchanges around the world set up trading platform just to offer services to users not taken protective and preventive measures in ensuring that tamper-proof security measures are integrated on the platform. Crypto exchanges hold large volumes of users’ asset and personal details therefore it must ensure that adequate security measures are taken to protect such assets and data from being stolen by hackers and fraudsters. Cases of successful hacking attempts on exchanges some of which are CoinDash, Shapeshift and many others have left both the exchanges and asset owners in great loss.
Limited Staff Experience: IT and staff experience is also a determining factor of the security of a crypto exchange. Existing crypto exchanges employ the services of IT staffs and personnel with limited knowledge in building crypto exchanges and at the end of the day, create crypto exchanges with poor security measures against external attack.
FinanceX is a cryptocurrency exchange that provides users with a transparent and secured ecosystem for executing trading transactions without having to worry or fear about loss or theft of their assets and personal details by hacks and frauds.
FinanceX through its out-of-the-box strategies provide users with a crypto exchange with the following solution. They include:
Tamper-proof Architecture: FinanceX adopts state of the art security measures on its exchange to ensure that users are provided with a transparent and secure environment for crypto trading. FinanceX cryptocurrency exchange boasts of modern and sophisticated security features like KYC verification, 2FA authentication, secure web with SSL and DOS protection, cold wallet storage and many others. This features are adopted to provide a trust-less ecosystem where users are assured of the safety of their assets from hackers and frauds.
Experienced Technical Team: FinanceX also has a team of professional and experts with over 20 years of experience in financial, information and stock exchange market. With its skilled team of experts FinanceX provides a strong security architecture for users’ assets and data.
FinanceX puts the security and privacy of users in mind thereby creating a tamper-proof and confidential cryptocurrency exchange for users, providing a secured architecture for efficient and transparent trading transactions.
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