XBO.com affirms its users come first by working on its Proof-of-Reserves protocol, promising crypto assets are safe at all time
XBO.com, the cryptocurrency exchange making the benefits of crypto more accessible to everyone, reassures its users their funds are safe with the exchange, promising no mishandling of funds is possible. XBO.com is working on a proof-of-reserves protocol and is holding all assets of their users 1:1 in segregated accounts through its collaboration with Fireblocks, on its recently launched platform, which merges gaming-inspired UI and top security solutions to offer traders a user-friendly and reliable alternative to existing exchange platforms.
With Bitcoin and Ethereum reaching new lows that were not seen since 2020, the crypto world is licking its wounds from the FTX crash. When Binance backed out of its rescue deal for FTX over reports of mishandling of customer funds, investors’ trust in centralized crypto exchanges dropped drastically. As many have noted, however, it was poor management that led to FTX’s downfall, not a failure of the centralized-exchange business model or underlying technology. Sam Bankman-Fried’s trading firm Alameda Research heavily invested in the FTX exchange’s FTT token, essentially inflating the token’s price using investors’ money to back it up.
Today, XBO.com reassures users that such a prospect isn’t even possible on its platform. XBO.com doesn’t have a native token. XBO.com meets the need for a user-friendly and accessible crypto trading platform. Leveraging an intimate familiarity of crypto users’ pain points and a deep understanding of social gaming UX, XBO.com makes buying and selling digital assets simple and enjoyable for both amateur and experienced crypto users who find traditional crypto trading platforms intimidating.
“The FTX crash is unfortunate first and foremost to investors on the exchange, but the mistrust users have for centralized exchanges now is harming the whole crypto industry,” says CFO of XBO.com, Dor Maman. “We want to ensure users who invest through XBO that their assets are safe and held 1:1 with zero exposure to currency rate fluctuations. We comply with the highest industry standards in terms of safety and security, and always believe our users come first.”
XBO is a cryptocurrency exchange platform created to accommodate every type of crypto investor. The platform provides a secure environment for trading, with cutting-edge verification measures created to speed up the loading process, as well as the ability to tailor visuals with either a simple display for novice traders or a detailed view for the more experienced. The exclusive reward system ensures traders receive compensation for active engagement, as well as the possibility to profit from different trading styles. For more information visit: https://www.xbo.com/