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Safety First: Is safe crypto trading a myth or a reality?

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Safety First: Is safe crypto trading a myth or a reality?
Source: Pixabay

Trading is risky. That is the rule no. 1 for any trader and investor. Traditional stock markets have been governed by strict regulations for decades. Crypto? FUD comes to mind.

Do you believe in cryptocurrency exchanges and their safety? Do you want to find the one you could trust? Let’s discuss.

Cryptocurrency exchange: fighting fear with facts

A newer barometer of exchange safety can be found in the latest ICORating Exchange Security Report, which ranks 130 of the world’s most popular cryptocurrency exchanges by safety.

Over the years, hackers have stolen millions of US dollars’ worth of cryptocurrency from different exchanges. No wonder that potential investors consider investing in crypto to be hazardous and vulnerable.

Today, there’s a huge number of cryptocurrency exchanges to choose from – 200 platforms currently offer their related services, and the number is constantly growing.

Although many countries have started to introduce strict regulatory requirements pertaining to the operation of crypto exchanges, investors and traders are still not completely protected from the loss of their assets.

The top 3 simplest tips to protect yourself are the following:

  • Invest in reliable assets. Keep track of the performance of the crypto you want to trade
  • Diversify your portfolio. Being extremely volatile, a single cryptocurrency can’t serve as a safe and sound investment tool. To mitigate the risk, you should think carefully about a number of markets that can bring you profit and serve as hedging tools.
  • Choose reliable crypto exchange. The 4 major parameters you should consider include user security, domain security, web security, and DoS Protection.

What to look at before choosing an exchange

Take a closer look at the following parameters when choosing your cryptocurrency exchange to be on the safe side:

Parameter Description
Reputation Search for reviews from individual investors and trusted industry resources. Use forums like Reddit and BitcoinTalk.
Fees Find out all the details and fee-related information on the crypto exchange’s official website. Make sure you understand the rules.
Payment methods Make sure the exchange supports the payment method suitable for you: wire transfer, debit/credit cards, PayPal, etc.
Verification requirements Though user verification may seem long and painful for users, this step protects the exchange against any fraudulent actions.
Geographical restrictions Sometimes exchanges offer some functions, which are only available within a certain jurisdiction. Ensure you can get full access from the place you live in.
Exchange rate All cryptocurrency exchanges have different rates. Take your time to shop around to find the best options.

Can crypto trading be safe?

For sure. Authorized and fully regulated by the world’s financial regulators, cryptocurrency exchanges can offer safe and sound services to satisfy the needs of aspiring crypto investors.

Just note that a hit or miss strategy will doubtfully work out here. Instead, try to conduct a careful and thorough analysis of your options. It will definitely help.

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AMBCrypto is not responsible for the content included in this article. Readers' discretion is required while visiting the links given in the report as AMBCrypto is not responsible for the products or services.

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Guest Post

Passing the test with flying colors: Securing employee accreditation through Blockchain

Guest Author



Passing the test with flying colors: Securing employee accreditation through Blockchain
Source: Lition

In today’s fast-paced world, businesses need to ensure their employees are well versed in relevant technology, regulations, and practices. Top-notch training programs are vital for keeping employees up to date and at the top of their game. But unfortunately, current certification methods aren’t airtight.

Online certificates for successful completion of education programs are often issued on PDFs, which extremely vulnerable to falsification, theft, and duplication. 

And that means company leadership and customers can’t always be certain team members have completed all necessary training and received the proper accreditation.

Luckily, all this is about to change thanks to ERC721 tokens and recent developments in blockchain infrastructure. As an example case study, E-learning provider Lawpilots is collaborating with a blockchain infrastructure firm Lition to finally deliver secure employee accreditation certificates.

By deploying ERC721 token certificates, education programs can kiss vulnerable PDF certificates goodbye forever. By storing certificates on a private blockchain, documents are able to be secured and made available to relevant parties without putting the certification’s authenticity at risk.

However, not all blockchain platforms are created equal, and any platform up to the task must be able to secure certificate on the chain while allowing the data to be deleted when it is no longer relevant.

Let’s take a glimpse into the future of document sharing and security.  

In this kind of system, when a user completes a training module and receives their certificate, they can then upload the certificate to a private sidechain on the network, securing the record. 

The certificates could then be shared upon request with relevant individuals or organizations to prove that the user passed the course. Counter-parties could easily connect to the private sidechains to inspect documents, with access limited to specific time frames or the maximum number of clicks if necessary. 

Many certifications expire after a set period of time, requiring the user to partake in further training. While most blockchain networks are immutable, and therefore would leave expired records in the system, a deletable blockchain infrastructure could be set up to automatically destroy certificates after they are no longer valid. 

Deletability would also give users control over their personal data while guaranteeing enterprises that their systems are GDPR compliant.  

Lawpilots chose to work with Lition precisely because of their novel public-private deletable blockchain infrastructure, which allows enterprises to take advantage of an uncompromising blockchain network and delete data when necessary.

Through this kind of architecture, education companies and their clients could guarantee their employees receive and are up to date on the latest training, helping their businesses run smoothly and protecting themselves from legal vulnerabilities.

The implications of this technology cover countless industries. Nearly every type of business needs to be able to eliminate counterfeiting and provide document security.

Think of all the sensitive information we pass around on PDF that can be easily tampered with or duplicated. Transcripts, university degrees, bank statements, real estate records, healthcare information.

 The list goes on! Isn’t it about time the world doubled down on document security and stopped relying on PDFs that are clumsy, easily doctored and insecure?

Dr. Richard Lowhasser, Lition CEO

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