On SynchroBit™ we take security measurements very seriously:
- SynchroBit™ is a decentralized exchange and uses the most possible decentralized and distributed methodologies to minimize the risks. All cryptocurrency assets on SynchroBit™ can be stored by the users on the recommended cold - wallets and there is no need for keeping the cryptocurrency assets on SynchroBit™ by the users.
- For those users that have no access to hardware Cold-Wallets like Trezor™, we have adopted another innovation to develop our Asymmetric Synchronized Wallets (ASW) on SynchroBit™ which uses multilayered technology to keep them tamper - proof. This security measure is enabled by SYNCHRONIUM® blockchain - based consensus, Proof of Synchronization (PoSynch™) which is asymmetry consensus and enables keeping the assets and conducting transactions on various public blockchain network.
- Since our users have actual cold wallets on SynchroBit™ trading platform, users can generate new crypto addresses to be added to their cold wallets on SynchroBit™. All wallets are fully decentralized and, as a result, no private key is stored on SynchroBit™ databases, and they are distributed on the pertaining blockchain networks.
- SynchroBit™ doesn't keep the private keys on the blockchain networks. Therefore, if at any condition SynchroBit™ face with cyber - security attack, users' funds are safe and out of access.
- Two factor authentication is available on SynchroBit™. users can activate the 2FA feature with both SMS and authentication apps including Google.
- A multi - layered firewall is also installed on SynchroBit™.