Monday, 03 August 2020

Covesting - one of the best new crypto exchanges

Many cryptocurrency exchanges are now rushing to receive licensing with the imminent enforcement of regulations now upon us in order to keep their business afloat.
For many however it’s too little - too late, having already suffered as a result of hackers and irreversible damage. Premature launch without previous implementation of the proper security measures has left many, of even the most trusted exchanges and their customers assets vulnerable.

One new and upcoming exchange taking this issue very seriously, is Covesting .

Covesting are currently conducting rigorous testing on their beta version platform and implementing the best industry practices to mitigate security risks and develop a reliable world-class trading platform. Having learned from other exchanges mistakes and bringing their knowledge from traditional financial markets, Covesting is the new trading platform prepared for the next stage of growth within the cryptocurrency industry.

Many individual and institutional investors are currently sitting on the fence waiting for regulatory clarity before daring to enter the cryptocurrency market and introduce their money to the markets. In order to attain trust and sustain rapid growth and expansion, it’s clear things must be done the right way from the beginning in order to be successful and survive long term (particularly when dealing with vast amounts of money).

From day one this has been a priority of Covesting, who are proudly legally compliant, and DLT licensed under Gibraltar jurisdiction. Before going live, Covesting will receive acceptance from the Gibraltar Financial and Securities Commission team, and moving forward follow the guidelines provided to remain within the regulatory framework.

One example of the security measures Covesting are implementing to keep cusomter assets safe, is with the cold storage protocol. Only a small amount of the customer funds will be held in the online (hot) wallet to facilitate instant withdrawals, while the most of customer’s assets will be securely held in the offline (cold) storage. Much more information about the security, platform protection and cyber security framework here Security | Covesting Cryptocurrency Trading Platform

By adhering to such strict and thorough security procedures makes the platform launch a lengthy and complex process, but ultimately is what it takes to provide a globally trusted cryptocurrency exchange that is competent in living up to the mammoth task and responsibility of dealing with hundreds of billions of dollars.

Covesting are extremely open and transparent in their platforms progress and the internal operations in the development of the platform, which can be seen in their community on Facebook, Twitter and detailed monthly updates on Medium you can see here Covesting PR – Medium  

By Covesting PR
Legal disclaimer: The insight, recommendations and analysis presented here are based on corporate filings, current events, interviews, corporate press releases, and what we've learned as financial journalists. They are presented for the purposes of general information only, and all the information belongs to the original publishers. These may contain errors and we make no promises as to the accuracy or usefulness of the information we present. You should not make any investment decision based solely on what you read here.

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