How to Choose a Safe Cryptocurrency Exchange?

It is one of the basic concepts taught even to engineering students, especially in departments on management informatics. change management. One of the issues that are especially emphasized when talking about change management is access to correct information and this is the correct transmission of information.

Although studying these subjects may seem like a chore for many, what is actually tried to be done in universities is to guide students in a way that will enable them to transform theoretical knowledge into practical skills. In other words, we are explaining the correct evaluation of information at length so that people make their money from high school dropouts or people who run a bookmaker. don’t lose on unreliable stock markets, do not have problems.

Is there a completely secure cryptocurrency exchange?

The answer is no, but wait until the end of the article before using this answer to disparage cryptocurrencies. No economic system in the world is safe. For example, some in deposit funds (also popularly referred to as “paying interest”) banks’ reserve ratio 3% was. This means that banks can act as if they have 100 liras against 3 liras in their safes. As a matter of fact, if everyone tries to withdraw their 3 liras at the same time, 32 out of 33 will suffer, even if the state compensates for this damage over time. However, no system is completely secure.

Moreover, in our country, crypto money is basically spreads from mouth to mouth. People have a tendency to use their trust in one another to trust something else. So go andOur Ibo plays from there too“There are many who enter the stock market. The knowledge of Ibo’s skill is not questioned here. Celebrities and politicians in the advertisements are technically similar, your trust in them It is used to attract users to sites.

What we need to look at is actually none of these. Just like a nut shop”Chickpea Bank“Even if he hung a sign, he would go”Brother, I have 37 thousand dollars, I will deposit it in your deposit account.If we do not say “, we need to follow a similar logic for cryptocurrencies. Because investing in crypto money is not just betting, it is an economic movement.

How to choose a safe cryptocurrency exchange?

If you are going to choose a secure cryptocurrency exchange, the number of details you need to look at is actually quite a lot, we will look at the most basic points in this article. Also, looking at these details Can’t protect 100% let me specify. It will still be useful to reduce risks.

1- Site Security

A hacking crypto wallet almost impossible. That’s why malicious people often target exchanges. Most self-confident crypto exchanges, as they know their reservations in this regard, security measures and security licenses also exhibits on site.

If a crypto exchange does not have run away from there, if anyone praises it again, don’t take it seriously:

• Absence of HTTPS on the site: They even pay attention to this on WordPress blogs now. The most basic security measure is more like checking if the door has a lock than if the door has a lock.
• No two factor authentication: It is essential if you want someone who can somehow get the password from the database or computer to hack all your cryptos.
• How funds are stored: Exchanges that store funds in cold wallets rather than in hot wallets where someone else can access them are generally better. It has risks too, but not as much as hot wallets.

2- Transparency

Another important issue is transparency. Okay, we are not saying that all the employees of the company should be listed on the site from top to bottom, but if you are going to enter a stock market. Who is the founder, CEO or something? you should be able to see. Do not enter the uncertain exchanges, look at the projects.

Most exchanges own cold wallet information publications. After the Thodex hit, people started to compare wallet information on Twitter one by one to understand how many money operations were carried out. Reliable exchanges also share cold wallet information.

3- Laws

Responsibility and accountability are one of the most basic ways to tell if something is trustworthy. In this content, we have used only fictional names, except for the stock markets that have already collapsed, so that the article is only informative and not unintentionally directing. This is our responsibility to you.

A similar situation is also valid for stock exchanges, but it is important that they act in accordance with the laws, especially in the last period, and that they have a structure that can come to terms with the lawmakers. Otherwise, serious problems may occur. There are similar reasons why not every exchange is open to every country.

4- Liquidity

Technically, when trading on a cryptocurrency exchange, money changes hands. If there is no movement in the market, a trade cannot be made or takes too long to do, stay away from it. Even if you earn in small-volume exchanges, it is not always easy to use your earnings. In addition, price fluctuations can have a very negative effect. On its own, it is very weak as a reliability scale, we saw an example in Thodex.

“Brother, what are CEX and DEX, if you tell them too.”

There are two different abbreviations called CEX and DEX on cryptocurrency exchanges. Of these CEX center It is used to describe cryptocurrency exchanges or blockchains. DEX, on the other hand, are decentralized cryptocurrency exchanges and blockchains.

Between both approaches advantages and disadvantages has. Let’s say Atbank launched an exchange called Atcoin Trade, which is an exchange under its control. After all, this exchange has an owner, a bank that controls it, and this system is an example of CEX.

DEX, on the other hand, are decentralized exchanges that use the logic of nodes instead. like this malicious people job gets harder. It should attack all nodes at the same time, not just one node. Since there is no centralized structure, anyone can control it. Although both systems have their own advantages and disadvantages, this is the main difference.

You can try the local cryptocurrency exchange ICRYPEX, which meets all the conditions in the content:

The basic core software of ICRYPEX, which was founded by Gökalp İçer with a corporate structure in 2018, was developed by the team of the company. In addition, it is a company that does the order book management by itself. All this means that ICRYPEX did not receive support from a third party, that is, from a different company/institution/person, in any of its software.

ICRYPEX’s security team, which has the “offline account transactions” feature to ensure account security, consists of certified employees in the field. In addition, according to ICRYEX’s statements, there are several layers of security in the cold storage of the exchange and Security infrastructure beyond industry standards being developed. On the other hand, the monitoring experts of the stock market working 24 hours a day, 7 days a week; They constantly monitor technical operations, transaction volume and orders and blockchain reactions.

Of course, apart from all these, e-mail verification and Two-Factor Authentication (2FA) can be activated in ICRYPEX, which will make your account more secure. You can reach ICRYPEX here.