KUBIT X - A ROBUST AND SECURED CRYPTO EXCHANGE
Crypto traders and enthusiasts an answer to the crypto exchange of your choice is here which KuBitX providing a much secured ecosystem so as to maximize your portfolios.
OVERVIEW
Security is a very important factor needed for the growth and expansion of any business as it increase trust of customers and serves as a strong pillar for continual existence. Therefore, for any crypto currency exchange to retain traders’ trust and ensure further growth it must put efficient security measures in place.
Crypto currency exchanges has been a major target for security breaches drawing from the exponential growth the market has experienced in recent years, it has become an attractive source of carting away with huge amounts of traders’ portfolio by hackers.
An example is ShapeShift, a crypto exchanged that was hacked into in March, 2016 loosing over 496 BTC, 5,800 ETH, 1,900 LITE COINS which are all equivalent to $230. CoinDash has also been hacked into, loosing up to 37,000 ETH valued at $7 million.
The reason for this is that, most of these exchanges have inefficient security measures put in place to tackle the attempts of these hackers from breaching into their system as they are always looking for loop holes in exchanges and trying to crack the security system, but most of these exchanges fail to step up their game in preventing against such attacks.
KuBitX is a crypto currency exchange with a vision to provide efficient security measures in its trading platform and also create user awareness of various hacks and fraud happening in the market thereby providing a secured ecosystem for users.
PROBLEMS ASSOCIATED WITH EXISTING CRYPTO EXCHANGES
The following are problems associated with existing trading platforms drawing from their security challenges. Which include:
Lack of user confidence on the platform, existing crypto exchanges could not provide adequate security measures on their platforms which made them victims of cyber attack loosing large amount of money in the process thereby reducing users’ confidence on their platform.
There was no awareness of frauds and hacking attempts going on in the market to users, these platforms did not have a system of sensitizing or enlightening its users on fraudulent activities happening and how to avoid them.
Most of these crypto exchanges had minimal and inefficient security systems to detect against loop holes on their platforms and take necessary steps to prevent them. This made them vulnerable to various successful hacking attempts.
SOLUTION
The KuBitX exchange adopts the following security measures to provide a robust secured platform for its users, some of which are:
The KuBitX platform is not only concern about the security of the exchange but also plans to sensitize and create awareness on fraud and hacks happening in the crypto market.
Users’ data are encrypted using the AES-256 an Advance Encryption Standard which is currently being adopted by the US government. User data are encrypted with this measure before it is inserted into the database.
KuBitX has a customized security architecture which is designed to ensure that the encryption keys are stored very well so as to prevent against manipulation of users’ data by hackers.
The platform also possesses a secured offline multi-signature vault system and cold wallet, while it stores the password hashes on its server and not the original password.
KuBitX has also developed a third party code verification and penetration testing function on its security system which acts as a check on loopholes in the platform so as to protect and prevent against hacking attempts.
Final Thought
KuBitX provides robust security to its exchange platforms thereby ensuring that crypto trading is carried out in a much secured environment without the fear of fraud and hacks.
Maximum security is guaranteed with KuBitX, be part of it.
Web: http://www.kubitx.io/
Whitepaper: https://kubitx.io/KuBitX_Whitepaper_v1.1_En.pdf
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Telegram: https://t.me/kubitx_official
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