Security and trust are two words that are constantly heard in relation to cryptocurrencies. And especially when referring to exchanges, in which millions of users around the world place their trust daily for the management of their digital assets. These two pillars are fundamental in the day-to-day life of exchanges, which seek to transmit these values and give peace of mind to their users. This constant search for demonstrate safety and reliability was one of the main topics at the recent GM Vietnam event. Vivien Lin, Chief Product Officer of BingX, referred to how the company works to achieve these characteristics. «The secret to becoming the platform chosen by users lies in security and simplicity. At BingX, we prioritize building trust and maximizing security above all else. Having brilliant ideas is not enough, it is trust that strengthens trust in the user,» said Lin.
Security is key when it comes to cryptocurrency exchanges
Cryptocurrencies are increasingly popular in the world and people are constantly looking for the platform that gives them the most confidence. In a recent report carried out by the Triple-A platform, Argentina is ranked 4th in the world in percentage of inhabitants who own cryptocurrencies and is the leader among Spanish-speaking countries. Brazil is ranked 7th, Venezuela is ranked 17th, Mexico is ranked 21st, Chile is ranked 24th and Spain is ranked 37th.°. What things can strengthen the trust that an exchange generates in users? Without a doubt, The commitment that companies have to user security is at the top of the list. In this regard, Vivien Lin also stated in Vietnam that «having an external audit with a good reputation is key so that users can have peace of mind regarding the security of the protocols, financial stability and compliance with regulations.» As Product Manager at BingX, Lin is very clear about the daily risks of possible hacks on the platforms. «We all know the dangers that lurk at the hacking level, but we also understand that there are people who can add value at that point. Another way to provide security to our users is the bug detection program that we have active together with HackenProof, for which we offer rewards to those who find vulnerabilities in our platform,» stated Vivien regarding the risks of hacking. .
BingX recognizes the importance of proof of reservations
Finally, another concern that cryptocurrency users have after different events in the past with exchanges is the ability that these companies have to demonstrate that They have the necessary reserves to meet the investments made. Lin also addressed this point at GM Vietnam, stating that “we are clear about how sensitive the issue of reserve verification is and we are convinced that exchanges have to be transparent in this regard. BingX uses the Merkle Tree technique to provide proof of its reservations, which our users can constantly access and see in real time.» These statements by Vivien Lin were given within the framework of the panel “The search for the next Web3 super application” during GM Vietnam. BingX participated in the event as part of its ExpansionX strategy. Through it, the company works to strengthen its presence and work in important regions such as Vietnam, Turkey and Argentina.
About BingX
Founded in 2018, BingX is one of the leading cryptocurrency exchanges, with over 10 million users worldwide. It offers a wide variety of products and services, including spot, derivatives, copy trading and asset management; all designed for the changing needs of our users, from beginners to professionals. BingX is committed to providing a reliable platform, empowering users through innovative tools and features to elevate their trading level to the maximum. In 2024, it became a proud principal partner of Chelsea FC, marking its debut in the world of sports. For more information, visit the BingX website.
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