By
Bhushan Akolkar
April 19th, 2024
Cryptocurrencies are gradually changing the way people transact, trade and do business globally. Montex Market delivers low fees, fast processing time and fewer intermediaries which is a significant advantage among other exchanges.
Any novelty brings its own threats – and cryptosphere is not an exception. With 500 exchanges currently operating on the crypto markets, only a small fraction delivers potent protections against the major pitfalls. Montex Market stands out, enabling heightened security, protections and unique services among other providers globally.
Cryptocurrencies Bring Both Benefits, As Well As Threats
Many traders across various markets have come to understand the true value of correct risk management strategies, as it’s these very practices that help bring sustainable yield over the long term. Dealing with virtual currencies, traders face a suite of cardinally new threats. It’s paramount for an exchange to openly accept arising threats and deliver effective solutions.
The Montex Market team has developed trading experiences to address various threats head-on:
Trader’s Computer Was Stolen and Exchange Account May Become Compromised
Threat: A criminal might access an exchange account and withdraw funds.
Solution: Primarily, users should use a password and fingerprint authorization function. On its part, Montex Market enables users to create multiple accounts and connect them to specific devices. In just a few minutes, the user will be able to deactivate the account via the remote control function.
Trader’s Credentials Were Leaked and Exchange Account Might Get Accessed
Threat: One is the biggest benefits the industry offers is that all transactions are done electronically, but, on the flip side, stolen credentials can open the way to traders’ wallets. The attacker will input credentials from another device and access the account.
Solution: Traders can easily connect their devices and accounts. In this way, even if the credentials get stolen, hackers will never be able to access the trading account.
The Exchange Was Hacked and Funds Were Moved From Users’ Wallets
Threat: Hackers might attack an exchange, access private keys for users’ accounts at an exchange, and then transfer funds to their own accounts. Exchanges don’t assure the due level of security for private keys, stored on their servers.
Solution: Montex Market has developed its own wallet, downloadable as a mobile app. At Montex Market, private keys always stay in traders’ hands. Although validity of the approach has born many arguments, it enables absolute protection against hacking attacks on servers.
Even if the Montex exchange has been hacked, attackers won’t have anything to steal, as, without access to private keys, they won’t be able to do any damage to traders’ wallets. Decentralization, achieved in this way, might become the new standard for crypto-exchanges of the future, clearly putting Montex ahead of the curve.
Crypto Cuts Out Middlemen, Who Might Have Otherwise Consulted Traders
Threat: Disintermediation, i.e. elimination of intermediaries due to use of blockchain and cryptocurrencies, helps streamline processes, reduce fees and transact globally. But the trade-off is the lack of consultants to turn to when challenging questions arise about the best course of action.
Solution: At Montex Market, a unique function enables traders to purchase stocks in startups with ETH or MON, exchange’s native token. The transactions executed on the exchange, with no need to engage other stakeholders, like banks, lawyers, accounts, etc.
The team recognizes the need to assure that presented startups are of the highest quality and provide traders with sufficient data about businesses. The curated list brings together carefully selected startups from East Asia and globally, each of which is accompanied by a suite of useful materials, including financial statements, business plans and short videos, enabling traders to make educated judgments based on hard facts.
Montex Market is set to continue developing unique functions with plans to roll out binary trading with crypto, as well as a debit/withdrawal card from an EU bank. Clearly, the efforts, taken by Montex Market to address major threats to crypto traders, will guide the exchange on the journey to win popularity among traders globally.
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