Insecurity and Untrustworthiness: Is there Help for Users?

Impact of insecurity and untrustworthiness in crypto transaction

Economic historians believe that fiat currencies are called fiat currencies because they are a creation of governments through a “fiat,” administered by central banks or the federal reserve.

The fact that cryptocurrencies are not backed by the government , like their fiat currency counterpart, makes people skeptical of their acceptance. 

To make matters worse, a very significant number of crypto exchange platforms have weak security systems, which expose customers to crypto theft from hackers, creating an aura of untrustworthiness in the crypto space. Aurix’s crypto exchange platform is rising to this challenge through its innovative approach.

Aurix’s crypto exchange approach

Aurixs CEO, Majed Mohsen, understands  businesses that are customer-centric thrive only. His approach to boosting customers’ confidence in the Aurix crypto exchange platform is understanding their fears through rigorous customer development research and adopting innovative technology to alleviate them.

One of the greatest strengths of the Aurix chain ecosystem and the crypto exchange platform embedded in it is the security of customers’ funds. Aurix is the first crypto exchange platform in the world to provide cashback in a crypto transaction. What this essentially means is that, under no guise will customers lose their funds. The entirety of the Aurix chain ecosystem was built to be secure and self-sustaining, such that customers will get their cashback even if the system crashes.

The acquisition of the most advanced, state-of-the-art technology available in the crypto space ensures that the entire Aurix chain ecosystem becomes hack-proof. What more can customers ask for than a blockchain-based system that provides crypto transactions that are safe and autonomous?

Customers will be hard-pressed to find a crypto exchange platform that combines high liquidity and can process transactions at the speed of light, like Aurix. The mass migration and adoption of the Aurix chain ecosystem are  testaments to its superior approach, to building customers’ confidence in its system.

How to identify secure trading platforms

The quality of the founders: A simple research on the names behind a crypto exchange platform should reveal their stock in trade. The analysis must disclose their track records of excellence and experience in the crypto space. A crypto exchange platform, whose owners are obscure, leaves little to be desired, and it either shows that the whole system is a sham to further crypto theft or the promoters are not confident about their abilities. Research must reveal whether the founders have a history of fraud, dishonesty, and crime.

Read reviews: Due diligence must be exercised by taking the pain to read online reviews before trading on a crypto platform. These reviews must be read from independent outlets, and with no ulterior motive. The platforms must allow customers to say things the way they are without mincing words.

Check the app’s security architecture: You need not have a major in computer engineering to ascertain the safety of a trading app before installation. There are free tools online that allow you to check the security of a crypto trading platform by imputing the app’s name and information about your password’s safety, personal information safety, and contents exposed to the app owner laid bare. This is an efficient way to lift the veil of evil people with insecure crypto trading platforms.

Conclusion

The world is gravitating towards adopting cryptocurrency on a massive scale. The insecurity and untrustworthiness of crypto trading platforms is a necessary hurdle that must be overcome. Aurix’s chain ecosystem approach of using powerful technology to ensure customers’ safety will be a game-changer. 

To benefit from Aurix’s approach is easy; all that needs to be done is to conduct independent research on its CEO and his team of experts, to ascertain their integrity. Reading reviews and running a background check on their platforms is also a step in the right direction. The simplicity of Aurix’s system ensures that nothing is hidden from customers, leading to their overall confidence in the system.

Source: https://www.cryptopolitan.com/insecurity-and-untrustworthiness-is-there-help-for-users/