BITSMO EXCHANGE

JAPANESE ZAIF EXCHANGE FACED A SUBSEQUENT LOSS! HOW BITSMO IS A SAFER SOLUTION FOR THAT MATTER? Everyday there’s a report claiming hacks on an XYZ exchange or stealing of funds from the exchange wallet. To speak of the latest report, Zaif Exchange (a Japanese cryptocurrency exchange ) has lately faced loss of their funds worth $60M. Possible reason: Security system continues to plague their assets. The technology department of Zaif Exchange has said that funds were stolen between 5pm and 7pm on 14 th of September. The cyber-criminals decamped with the asset worth $60M, of which $40M was users’ money. This stealing suggests that current cryptocurrency exchanges are too vulnerable to trust your million worth digital assets with. When Coincheck lost $500M in a matter of minutes, it already rang the alarm about poor security system of crypto exchanges, yet people have kept investing and trading. This latest stealing case on Japanese exchange is actually a blow to the r

Blockchain technology is removing the middlemen that conventional banks use to process small/large any transactions to save up on our pockets and speed up the transactions. Consider it as a principled digital economic transaction ledger, which can be developed to record not just money transactions, but almost everything of value. Drawbacks of FIAT money and its system As you must know, fiat currency is the state currency ruled as legal by state government, however is inherently value less asset. You may not be aware, but fiat money is gradually losing its representational capability for gold deposits and other valued assets in the market. If the future is discussed, fiat money will remain just as debt instruments. Below is the demonstration how cryptocurrency is beating fiat: -           Cryptocurrency enables its users with financial power, while fiat money is streamed to us through banks. -           Fiat system seconds Kleptocracy, while cryptocurrency has restored