It is interesting how every discussion on innovation and developments in finance and technology is geared towards cryptocurrencies. During the initial years of cryptocurrency development, there were only a dozen cryptocurrencies. Today, this number has grown exponentially and has now reached around 18,000 cryptocurrencies.
However, the continuous evolution of the crypto ecosystem raises significant concerns about cryptocurrency security and ways of resolving the dangers that come as a result of this technology. Without a doubt, the buzz over crypto popularity acts as a playground where malicious individuals and agents compromise crypto assets. Similarly, cybercriminals continue to launch phishing and identity theft attacks to exploit the vulnerable areas of crypto exchanges. In this article, we focus on how IXFI, a revolutionary crypto exchange platform, is handling the issue of security.
Why is Crypto Security Paramount?
Before assessing what IXFI is doing differently to enhance security, it is crucial to map why security is such a major concern in the crypto ecosystem. The crypto environment is not only affected by scams and hacks but also by declining consumer demand. Consumer demand tends to depreciate with lapses in security.
Therefore, a security breach in cryptocurrency does not only affect the involved company but the entire sector. To prevent such a scenario from happening, crypto communities must put immense effort into developing advanced technologies that meet compliance framework demands.
IXFI’s Vision
IXFI is a new-age crypto trading exchange platform made by investors for investors. It is designed by experts to meet the needs and demands of all clusters of investors, both experienced and beginners. IXFI’s primary focus is providing excellent security so that anyone can trade with peace of mind, assured that their money, assets, and personal information are safe.
Consider the IXFI Wallet
IXFI is always guided by the need for security when developing its features. With an IXFI wallet, you can easily and safely store your crypto assets. Currently, the IXFI wallet supports hundreds of cryptocurrencies and tokens that you can trade with, all from a single place with minimal risks and maximum rewards.
Crypto wallets are similar to online accounts, but they are specifically designed for crypto. Unlike bank accounts, the IXFI wallet is not backed up by any government deposit programs. The wallet only holds cryptocurrencies giving you absolute control over your funds. Here, you become your “own bank.”
A single sign-in in the IXFI wallet allows you to do multiple operations. For example, the IXFI wallet allows one to:
- See the names and details of the coins available for trading
- Access data on the amount in the trade and the total value of a specific coin
- Exchange cryptocurrency in the trading account
- See the trading pairs for a specific coin
- Use a particular coin on the list to deposit
In other words, the IXFI wallet allows you to deposit, withdraw, check balance and wallet history, as well as swap or convert coins.
Implementation of Blockchain Technology
IXFI uses blockchain technology, an end-to-end technology that forms a decentralized digital system. IXFI thrives on making investors the sole controllers of their finances. Thus, the adoption of blockchain technology is informed by the belief that technology does not require a central authority to control the market, create currency, transfer asset ownership, or approve transactions.
Blockchain is only the first layer of IXFI’s security. Other IXFI security layers include the Know Your Customer (KYC) system, where a customer’s identity is verified before joining the platform, anti-phishing codes, and block verification for every withdrawal. The latter ensures that an investor’s funds are completely protected.
Playground Environment Coming Soon
Sometimes, cryptocurrency trading is hyped such that some people just get on the bandwagon without the necessary skills and knowledge, and things do not turn out as expected when they lose their money. IXFI wishes to change the trend by ensuring that investors, especially beginners, are intellectually equipped. IXFI is therefore developing a playground environment where beginners can practice their trading skills.
Within this playground environment, users will be able to access virtual currencies for free to use to fine-tune their skills at no real risk to their assets. The most thrilling part is the practice of generating experience points and rewards usable in the IXFI exchange. In other words, the practicing environment is similar to the actual exchange, where one learns the ropes of trading and earns rewards.
Therefore, imparting trading skills and knowledge ensures the security of an investor’s money because they are well-informed and can make meaningful investment decisions.
With Your Friendly Crypto Exchange, you can rest assured that your funds are safe from harm, as long as you’re wise enough to not share your private information publicly. If you haven’t already, create an account on IXFI and enjoy all the benefits of a modern all-in-one crypto exchange.
Disclaimer: The content of this article is not investment advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives and specific financial and fiscal circumstances.
Although the material contained in this article was prepared based on information from public and private sources that IXFI believes to be reliable, no representation, warranty or undertaking, stated or implied, is given as to the accuracy of the information contained herein, and IXFI expressly disclaims any liability for the accuracy and completeness of the information contained in this article.
Investment involves risk; any ideas or strategies discussed herein should therefore not be undertaken by any individual without prior consultation with a financial professional for the purpose of assessing whether the ideas or strategies that are discussed are suitable to you based on your own personal financial and fiscal objectives, needs and risk tolerance. IXFI expressly disclaims any liability or loss incurred by any person who acts on the information, ideas or strategies discussed herein.
