Does Binance Exchange Cold Custody Stand A Chance Against Bitgert Exchange Cold Storage? No, And Here Are The Reasons
The last few months have seen most centralized exchanges struggle with security challenges. Hackings have become rampant, with even big exchanges like Binance being affected. In fact, the Binance exchange got hacked several times in 2022 and even lost a huge chunk of money.
To address this problem and ensure the security of the Binance traders’ assets, the exchange has come up with a solution that will reduce hacking attempts. The team has developed a cold-custody system, Binance Mirror, which will involve mirroring cold storage of traders’ assets through 1:1 collateral held on a Binance exchange.
The Binance Mirror will significantly reduce the hacking threat in this exchange by basically reducing the exposure of the investors. With this mirror service, Binance traders will be able to access the exchange ecosystem without the need to post collateral directly on the platform.
This will significantly reduce Binance traders’ exposure to the hacking threat, and that’s how the security of the exchange will be improved. However, crypto analysts believe that there are other centralized exchanges that could be offering better solutions to these security issues.
One of them is the Bitgert exchange that recently launched on Playstore. The exchange is also offering cold storage, that’s a bit different from what Binance is offering.
Reasons Bitgert Exchange Cold Storage Might Be Better
According to the crypto experts, the Bitgert team has designed one of the most effective ways of protecting traders’ assets. The cold storage the Bitgert team has developed is just one of the best and the most practical in the market.
Unlike Binance Mirror, the Bitgert exchange only store 10% of the assets in a hot wallet, and 90% of deposits are stored in a cold wallet that is impossible to hack. That’s how easy and impressive the Bitgert team has done. In fact, this is an approach that ensures traders’ risk of losing money is reduced to almost zero.
Therefore, crypto experts believe that Bitgert exchange is developing into a more disruptive CEX that will make the likes of Binance exchange lose traction in the market for the next few days. This is because more investors will opt for the Bitgert CEX due to its better security as well as its zero trading fee feature.
Bottom Line
Bitgert exchange will be the CEX to watch in the next few days. In fact, it will be one of the most adopted exchange that will beat the likes of Binance in transaction volumes in the next few months. This means the Brise coin might also do better than the Binance coin in 2023, hence a good buy.
The last few months have seen most centralized exchanges struggle with security challenges. Hackings have become rampant, with even big exchanges like Binance being affected. In fact, the Binance exchange got hacked several times in 2022 and even lost a huge chunk of money.
To address this problem and ensure the security of the Binance traders’ assets, the exchange has come up with a solution that will reduce hacking attempts. The team has developed a cold-custody system, Binance Mirror, which will involve mirroring cold storage of traders’ assets through 1:1 collateral held on a Binance exchange.
The Binance Mirror will significantly reduce the hacking threat in this exchange by basically reducing the exposure of the investors. With this mirror service, Binance traders will be able to access the exchange ecosystem without the need to post collateral directly on the platform.
This will significantly reduce Binance traders’ exposure to the hacking threat, and that’s how the security of the exchange will be improved. However, crypto analysts believe that there are other centralized exchanges that could be offering better solutions to these security issues.
One of them is the Bitgert exchange that recently launched on Playstore. The exchange is also offering cold storage, that’s a bit different from what Binance is offering.
Reasons Bitgert Exchange Cold Storage Might Be Better
According to the crypto experts, the Bitgert team has designed one of the most effective ways of protecting traders’ assets. The cold storage the Bitgert team has developed is just one of the best and the most practical in the market.
Unlike Binance Mirror, the Bitgert exchange only store 10% of the assets in a hot wallet, and 90% of deposits are stored in a cold wallet that is impossible to hack. That’s how easy and impressive the Bitgert team has done. In fact, this is an approach that ensures traders’ risk of losing money is reduced to almost zero.
Therefore, crypto experts believe that Bitgert exchange is developing into a more disruptive CEX that will make the likes of Binance exchange lose traction in the market for the next few days. This is because more investors will opt for the Bitgert CEX due to its better security as well as its zero trading fee feature.
Bottom Line
Bitgert exchange will be the CEX to watch in the next few days. In fact, it will be one of the most adopted exchange that will beat the likes of Binance in transaction volumes in the next few months. This means the Brise coin might also do better than the Binance coin in 2023, hence a good buy.
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