Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Poloniex is committed to providing a secure crypto trading platform
In light of the recent market events, we want to reiterate our commitment to providing you with the most secure crypto trading platform.
Ever since our founding in 2014, our mission has always been to provide a safe and seamless way to store, transfer, trade and earn digital assets. That is why we have always maintained a conservative approach to liquidity management and have no financial exposure to any third parties including FTX and Alameda.
As we continue on this journey to provide you with the best crypto trading and custody experience, we want to assure you that your assets are safe with us. Here are some of the ways we can assure you:
- 100% reserve ratio: Your assets are always backed 1:1 and are available for withdrawal at any time. We are currently working on a proof of reserves audit that we will share with you in the near future.
- Cold storage: We always aim to maintain a 95% cold storage ratio. This means that most of your assets are sitting in cold storage with ultra-tight security in place (requires multisignature to access). We never keep assets outside of our hot and cold wallets.
- Risk management: We will never and never have loaned your assets to third parties and we do not rehypothecate (use your assets as collateral).
- Asset management: Our world-class liquidity team ensures that your daily trading and withdrawal needs are always met with security and trust as top-of-mind. Our conservative approach to custody means that we will never touch your assets without your consent.
You can think of us as a safe deposit box for your crypto that you can access at any time. As we continue building out and improving our platform, we want to thank you for your confidence and support during these trying times. On a more positive note, we have a number of new features coming soon that we think you will be very excited about (hint: staking, margin, and sub-accounts).
We look forward to continuing our crypto journey with all of you.
Sincerely,
The Poloniex Team
Poloniex is committed to providing a secure crypto trading platform was originally published in The Poloniex blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.