Crypto.com has gained immense popularity among crypto traders in recent years. Still, many potential users are wondering whether it is secure enough to keep money there. In this review, we will discuss all the security aspects of the operation of this exchange and find out whether it is trustworthy or not.
Let us start with legal regulation. This platform works globally and is licensed in most countries. It strictly obeys all the local laws and regulations in each region where it is available.
Yet, you probably know that, in the case of some platforms, legal does not mean “secure”. So, is crypto.com safe?
In short, yes. This company has a “Defense in Depth” approach. In other words, they introduce safety measures into every aspect of their work. As a result, the risk of hacking attacks and similar problems is minimal.
Most potential users are worried about their money protection in the first place. This company stores its clients’ money offline, which is the safest option. Also, its cold storage is protected with $500 million insurance that covers a full range of risks.
Also, they have HSM-protected hot wallets with multi-signature keys for serving everyday transactions. But they are used to store only a small part of the general amount of users’ money.
Speaking about fiat currency trading, for such investments, the source offers custodian accounts regulated by local authorities, for example, in the USA, traders are protected by the FDIC.
As for their web and mobile platforms, they are secured like large international banks. So, they apply firewalls, TLS encryption, automated threat detection, real-time monitoring, and a long list of other advanced protection features.
In sum, crypto.com is one of the safest choices for both novice and experienced crypto traders. So, we recommend including it in your top list.