To ensure you can trust your exchange with your money and information, ask these 11 questions.Whether you’re an individual investor, business owner, or institution, you must ensure your Bitcoin exchange is a partner you can trust with your money and information, even if you self-custody your bitcoin after purchasing.To help you do your diligence on security and custody, we share 11 questions you should be asking your bitcoin exchange.
- How is my bitcoin secured?
- How do you help me protect my account?
- Do you use third parties for your custody?
- Do you lend out client deposits?
- Do you have Proof of Reserves?
- Has your data or custody ever been compromised?
- How do you protect my information?
- How are dollar deposits secured?
- What happens to my funds if you go bankrupt?
- Do you have insurance?
- Are you audited, licensed, and regulated?
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11 sats \ 5 replies \ @Skipper 18 Dec
I only really need 1 Question.
- Are you centralized, closed-source, and demanding KYC?
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0 sats \ 4 replies \ @0xbitcoiner OP 18 Dec
... and a chair!
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0 sats \ 3 replies \ @Skipper 18 Dec
wdym
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0 sats \ 2 replies \ @0xbitcoiner OP 18 Dec
we only really need 1 question and 1 chair!
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0 sats \ 1 reply \ @Skipper 18 Dec
1 chair for what?
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0 sats \ 0 replies \ @0xbitcoiner OP 18 Dec
😂 👀 #316312
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