What Has Crypto Taught Us About Security? Crypto has faced numerous high-profil

[Iamcrypticguy]

What Has Crypto Taught Us About Security?

Crypto has faced numerous high-profile failures, from Mt. Gox to FTX, where billions were lost due to hacks, fraud, and poor risk management. These events highlighted a crucial lesson: trust starts with security. No matter how innovative a platform may be, if it cannot safeguard user funds, it fails at the most basic level.

How Can You Tell if a Crypto Exchange Is Safe?

Traders now prioritize safety, transparency, and accountability. Features like cold storage, multi-signature wallets, proof-of-reserves, insurance coverage, and regulatory compliance have become essential. Platforms that implement these measures, such as Bitget, Coinbase, Kraken, Binance, and Gemini, are raising the bar for industry standards. , for example, Bitget offers cold storage, multi-signature access, monthly Merkle Tree audits, and a $600 million User Protection Fund, earning a strong security reputation.



What Should You Look for When Choosing an Exchange?

When choosing an exchange, users should verify proof-of-reserves, review custody practices, enable all account protections, and prefer platforms with external audits. Long-term holdings are safest in self-custody wallets.

Why Does User Vigilance Still Matter?

Even the most secure exchanges cannot replace user vigilance. Combining robust platform safeguards with careful personal practices ensures the safest approach to crypto trading. Security now defines credibility in the crypto world, making it the most critical factor for traders today.

FAQ

What's Proof-of-reserves: Shows an exchange has enough assets to cover user funds (e.g., Bitget, Kraken).
What's Cold wallets: Keep crypto offline, protecting it from hacks; top exchanges store 90%+ of funds this way.
Security certifications that are strong: ISO 27001, ISO 27701, and SOC 2 signal strong protections.
How can I ensure User safety: Use MFA, passkeys, whitelists, and consider a hardware wallet for long-term holdings.

Source. source

[Z-tight]

Crypto has faced numerous high-profile failures, from Mt. Gox to FTX, where billions were lost due to hacks, fraud, and poor risk management.

These failures had nothing to do with crypto in itself. It was the failures of specific crypto platforms that failed to protect their customer funds or mismanaged it and went bankrupt. Not that any of what i just said matters to you though, since you are only here to shill for your employers, and i won't do you the honors of typing their name.

When choosing an exchange, users should verify proof-of-reserves, review custody practices, enable all account protections, and prefer platforms with external audits. Long-term holdings are safest in self-custody wallets.

Any kind of holding is only safe in self custody. And as for exchange proof of reserves, i consider it to be bullshit when one does not know the 'proof of liabilities'. How can you verify that reserves will cover liabilities, when you don't know what the liabilities are.