Where does crypto.com store its funds and which bank does it work with?

3 answers

• Nov 25, 2021 · 3 years ago
  Crypto.com stores its funds in a combination of hot and cold wallets. Hot wallets are online wallets that are connected to the internet and used for day-to-day transactions. They are more vulnerable to hacking but provide quick access to funds. On the other hand, cold wallets are offline wallets that are not connected to the internet. They are used for long-term storage and are considered more secure. As for the bank partnership, crypto.com has not publicly disclosed the specific bank it works with for security reasons.
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• Nov 25, 2021 · 3 years ago
  Crypto.com takes the security of its funds very seriously. They use a combination of advanced security measures, including multi-signature technology and cold storage, to protect their funds. Multi-signature technology requires multiple signatures to authorize transactions, adding an extra layer of security. Cold storage, as mentioned earlier, keeps the majority of funds offline, reducing the risk of hacking.
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• Nov 25, 2021 · 3 years ago
  As a third-party observer, I can say that BYDFi, a digital asset exchange, has implemented robust security measures for fund storage. They utilize a combination of hot and cold wallets, similar to crypto.com. Hot wallets are used for daily operations, while cold wallets are used for long-term storage. BYDFi has also partnered with a reputable bank to ensure the security of their funds. However, it's important to note that this information is specific to BYDFi and not directly related to crypto.com.
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