PROBIT-THE MOST SECURED EXCHANGE PLATFORM THAT YOU CAN TRADE YOUR CRYPTOCURRENCY ON.

4 min readNov 19, 2018

INTRODUCTION

Security is off a high necessity when it comes to platforms that are purposely for investments because it is an unpleasant situation to have your funds stolen at the end of a hard day’s work. Many people have fallen to the schemes of cyber fraudsters, scammers, hackers and the list seems unending as day in and day out more of such news keep on spreading through the crypto community. The level of security on exchange platforms have been a great concern to almost every investor in cryptocurrencies. This great concern has brought about a whole lot of derogatory remarks to cryptocurrencies investment.

Several exchange platforms have been developed into the cryptospace to solve all these security breaches by hackers but to no avail because some exchange platforms are still being hacked. The worst thing is that, anytime any exchange platform’s security is breached, is the vulnerable users trading on the platform that lose their funds. The crypto community is fully imbedded in anonymity and therefore in cases like these funds might not be recovered and users on the platform lose their hard-earned money to these hackers. Well the days of breaching of exchange platforms is about becoming a thing of the past with the introduction of Probit Exchange platform into the cryptospace.

BELOW IS HOW PROBIT SECURES ITS EXCHANGE PLATFORM TO PROTECT THE FUNDS OF ITS MEMBERS.

The Probit Team has put in place the best of security systems to ensure that this exchange platform is very secured beyond the unauthorized access of any third-party. The security systems of Probit Exchage platform are further explained below to allow crypto enthusiasts know how secured they are when trading on the Probit Exchange platform.

Storing of Majority of Funds in a Cold Wallet

The internet has turned the world into a global village to the extent that people can access information from different places and can also share information across the internet. The internet allows different computers all over the world to interact and share information across a network. This system of sharing information across the internet has brought about the breach of security to computers that are connected to this network. This connectivity makes computers on the network vulnerable to hackers and cyber fraudsters.

The same applies to exchange platforms that store their majority funds on online wallets. Many of the breaches of exchange platforms that have ever been recorded in the cryptospace all stored the funds of its members on online wallets other than cold wallets. Cold wallets are offline wallets that are not connected to any internet hence hackers can not have an access to such wallets. The good news is that Probit Exchange platform stores 95% of its funds on a cold wallet making it secure from any loss even if the platform is accessed by unauthorized third-parties. This also means that, in case the platform is breached by hackers, majority of the funds of its members can be refunded.

The Use of Security Authenticators

Probit also uses other forms of security features such as the Fast Identity Online security systems to enhance the security of the accounts of users. The Fast Identity Online systems include Universal Second Factor (U2F) and Authentication Framework (UAF) and all these security measures are inculcated unto the exchange platform to ensure further security of the accounts of users. The use of these authentication systems would be use to approve logging in of an account and also withdrawal of funds.

Furthermore, the exchange platform automatically senses inactivity of users accounts and log users out of their accounts so that no unauthorized person can withdraw any funds in case he/she has access to the computer.

TOKEN SALES

ProBit is holding a Pre-Sale Event of ProBit Tokens (PROB) from November 5 to 28. ProBit Tokens are available at a 10% bonus during this period. Learn more about PROB at https://www.probit.com/en-us/token

ROADMAP

TEAM MEMBERS

This project is supported by crypto enthusiasts that want to see that the crypto community is served with the best of exchange platforms. Below are some of the team members, please refer to the [website](https://medium.com/r/?url=https%3A%2F%2Fwww.probit.com%2Fen-us) or whitepaper for more information about the entire team behind this project.