Although many believe trading via digital asset services and online platforms is unsafe, crypto.com ensures secure transactions through viable means. Research further backs its claim that it puts security first always.

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Crypto.com is a digital asset service that provides a wide range of products to its users through an app. It is a digital market whereby individuals buy, sell, and store crypto-currencies all through their devices. Crypto.com also offers an ‘exchange’ facility. Customers throughout the world use such a feature to trade digital assets and currencies.

However, due to its relative newness, which increases uncertainty, many individuals think of it to be an unsafe space. It started with shaky foundations as individuals initially accused the company of being a scam. Some questioned its legitimacy, while others concluded that trading through a digital asset service is not secure. Crypto.com has since taken various steps to make trading safe.

What Security Protocols Does Crypto.com Take?

Just like a bank, crypto.com has kept certain protocols in place to ensure customer safety and data protection. Research suggests crypto.com ensures safety through a 100% cold storage wallet for customer funds and Two Factor Authentication. As a result, it has never been successfully hacked, and hence no major theft has taken place.

Cold Storages

Crypto.com commits to a security-first approach. Hence it stores all of its user’s funds in offline cold storage wallets. Furthermore, crypto.com has partnered with Ledger to ensure secure and safe transactions. Ledger is a hardware wallet provider. A partnership with such a leading name means crypto.com provides an insurance policy whereby the cold storage assets of its users are protected by insurances worth $100,000,000.

Regulation of Fiat Currency: Crypto.com

Crypto.com lets users exchange digital assets on its secure platform while using its web interface. Trading on such a website or an app lets customers enjoy a wide variety of options, consequently increasing competition. The app allows users to trade via 21 different types of fiat currencies, including AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, NOK, NZD, PLN, RON, SEK, SGD, USD, and ZAR. These currencies are kept in a custodian bank account which is consistently regulated and highly secured. This eliminates the chances of digital theft.

The Highly Proficient Security Department

The security team at crypto.com ensures that all transactions are closely monitored. They mainly supervise all activity on the site related to deposits and withdrawals to catch suspicious proceedings. Additionally, a Two Factor Authentication (2FA) process that crypto.com uses achieves exceptional security standards. Furthermore, the exchange, which enables customers to trade digital assets, has an ISO27001:2013, PCI: DSS 3.2.1, Level 1 compliance, and CCSS.

However, as crypto.com is not based in the USA, its financial regulations and customer protection services vary from those of the USA. Headquartered in Hong Kong, it loosely follows the policies implemented in the region. It also does not provide significant educational resources to guide its users through the digital market, which gives way to mistakes.

Although many believe trading via digital asset services and online platforms is unsafe, crypto.com ensures secure transactions through viable means. Research further backs its claim that it puts security first always.

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