NBX Introduces Ledger Vault to Maximize Customer Security

NBX Editorial
Nov 19 · 2 min read

Keeping our customer funds offline and insured without sacrificing the speed or efficiency of our platform.

As the crypto industry continues to grow and hacks appear to be proliferating with it, providing reliable security to our clients has never been more important. Presently, the standard for cryptocurrency exchanges is to secure over 90% of customer funds offline in hardware wallets. This, however, leaves 10% or just under that, at-risk in online or “hot” wallets, which are those that quite frequently end up being hacked, often resulting in millions of dollars of losses.

Ledger Vault: what is it and why did we choose it?

The fact is, there’s a simple way to attack this problem: Ledger Vault.

Using the same foundational technology as a cold-storage cryptocurrency wallet, Ledger Vault allows us to keep only the amount of funds needed for day-to-day operations in hot wallets, with everything else stored offline without sacrificing the speed or efficiency of our platform. In other words, it’s a cold-storage system that’s engineered for institutional scale. As of now, Ledger Vault is live, which means that we have a share of Ledger’s $150 million insurance pool, which protects your funds per the Ledger Vault policy.

Now you can rest even easier as you invest or trade on the NBX platform. As we scale, the idea is that no matter how big we get, your crypto will always be secure.

By following this blog, you’ll always be plugged into the latest happenings at NBX. If you’re reading this and you’re not one of our clients yet, check out our posts on the NBX story and roadmap, then consider signing up with us! We’re continually working our way to being a leading, forward-thinking cryptocurrency exchange that’s accessible to all.

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Norwegian Block Exchange (NBX) is a pioneering, forward-thinking, and client-oriented Norwegian cryptocurrency exchange, custodian, and payment system. Trade with us on nbx.com, follow us on Twitter or Facebook📲✔️

Disclaimer: Content provided does not constitute financial advice.

Norwegian Block Exchange

Your Nordic-Born Partner in the Future of Wealth

NBX Editorial

Written by

NBX Editorial: The voice of the Norwegian Block Exchange, a pioneering cryptocurrency exchange & payments platform that’s dedicated to the tokenized future.

Norwegian Block Exchange

Norwegian Block Exchange (NBX) is a pioneering, truly Norwegian cryptocurrency exchange, custodian and a payment system. Sign up at https://nbx.com ✔️

NBX Editorial

Written by

NBX Editorial: The voice of the Norwegian Block Exchange, a pioneering cryptocurrency exchange & payments platform that’s dedicated to the tokenized future.

Norwegian Block Exchange

Norwegian Block Exchange (NBX) is a pioneering, truly Norwegian cryptocurrency exchange, custodian and a payment system. Sign up at https://nbx.com ✔️

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