PrimeXBT And The Hallmarks Of A Safe And Secure Trading Platform
Finding a trading platform based on which assets you want to target and which tools or features you hope to utilize is the easy part. Digging deeper in search of a trading platform that features all of the hallmarks of a safe and secure trading platform becomes a lot more challenging.
Has the platform ever been involved in a hack or intrusion attempt? How are the platform’s reputation and commitment to customer service? Has the platform ever received any industry recognition, and what is their community presence like? These are some of the most important, yet overlooked questions any trader should ask before registering for a platform and depositing their hard-earned money.
We’re deep-diving into what signs to look out for when selecting a safe and secure trading platform where you can rest easy at night knowing your money is in good hands and protected from cybercriminals.
Track Record Free From Hacks
Sadly, some of the largest and most well-known cryptocurrency trading platforms have suffered several hacks over the last few years as the asset class blew up into the spotlight. The high-value tokens that exist only in cyberspace have made them a primary target for criminals. Top Google security advisors claim that crypto is like “catnip” to hackers due to their semi-pseudonymous design.
Any platforms that have suffered any significant intrusions should immediately be taken out of the running when considering a platform. Even if the platform has since made things right, caught the suspects, or made good on any lost investments, it still blatantly failed to protect users’ funds, which should be the utmost priority for its customers.
Wallet And Account Level Protections
Any passwords and even the website logins should be done through a secure, encrypted page, and wallets should also include various protection levels in one form or another.
Compulsory address whitelisting can prevent any unauthorized users from draining an account from under your nose. At the same time, two-factor authentication adds a manual user-end security layer to sign-ins and withdrawals. Any platforms without these critical features must be removed from any list.
Reliable Infrastructure Makes For Effective Security
If a platform goes down more frequently than the sun every night at dusk, then there’s a severe problem brewing under the platform’s hood. This suggests that the team behind the curtain cannot even maintain normal operations, let alone take additional advanced security steps to keep funds safe.
Such code and infrastructure could leave more loopholes and back doors for hackers to find their way in.
Industry Awards Highlight Superior Safety
Any platform that has won any number of industry awards is typically a sign of excellence, and traders can usually breathe a sigh of relief when their favorite platform takes home a new award.
Awards and other industry recognition imply a commitment to customer service and user experience second to none. Management and company ethics often reflect on all aspects of a company, from leadership to operations, to security teams.
Reputation Amongst Community And Customers
Last, but certainly not least, and perhaps even the most important, is listening to what others are saying about any given platform. Are users, and more importantly, well-known traders or groups, talking about a platform or sharing PnL screenshots with a platform’s signature look? Then it is usually a sign that the platform is keeping those traders happy, one way or another.
How much a platform interacts with the community and how that community responds to its engagement says a lot about the brand. If users are lively and interacting, it suggests that the situation is favorable at the platform. However, if accusations are being hurled, or insults and threats, it is wise to stay away.
PrimeXBT: Award-Winning Trading Platform Includes All Hallmarks Under One Roof
Few platforms carry all these critical hallmarks and so much more. PrimeXBT, an award-winning Bitcoin margin trading platform offering CFDs on index trading, crypto, commodities, and forex currencies, includes all of these essential qualities. The company could brag and boast about all they offer. Instead, they take a modest approach and focus instead on customer service quality, experience, and the product they deliver.
That product is a safe, reliable trading platform with over 99.9% uptime. It also has never experienced a hack or successful intrusion, and PrimeXBT took home several key industry awards, such as the ADVFN award for Best Bitcoin Margin Trading Platform and three unique Forex Awards.
Accounts are protected behind address whitelisting, passwords are encrypted, and two-factor authentication through Google Authenticator protects from even SIM-swap-related user-end hacks that have recently grown in popularity.
PrimeXBT has all angles covered, from community presence to its tremendous track record for happy customers. If you’ve suddenly seen this platform’s name more often than usual, it is because of the recent debut of the Covesting copy trading platform, which has created friendly competition amongst its community of traders. But even this yet another hallmark of a safe and secure platform that users will want to keep coming back and can trust with their funds.
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