This is the time when people are giving serious thought about cryptocurrency. Some people are really annoyed with the centralized authorities like banks; rather they rush to the online exchanges for holding their money or for investments. There are two serious disadvantage on holding money on cryptocurrency exchanges, one is the risk of being cheated by the exchange itself and the other is getting hacked, which is really an alarming problem these days.
Now, to exchange cryptocurrency with fiat money would need an exchange which can do a traditional exchange, though some experts are assuming that if a blockchain can be made then people will have more control over their wealth.
Binance and its security
As one of the most prominent cryptocurrencies and the fastest growing one, it is one of the major headaches for Binance to keep the funds of their customer safe. Geetest looks for the security of Binance, which is expert in dealing with man-machine verification to cross-linked interactive security and self-immune systems.
Geestest has an expertise in securing around 200,000 websites and it is a popular security agency on the nternet. This is the first time it is getting involved with cryptocurrency related business with Binance. Multiple users are facing difficulty with the new security system, but for others it is just working find for them. But for new system to start there will be always bugs and in few days the coders will solve the problems with bugs. Slowly they are going to a fully protected cryptocurrency exchange and dealing. Though it is still not clear that API-based trading is affected by this new security system or not as maximum traders from all over the globe are using API-based solutions lately.
Authentication is two fold
Binance follows Two-factor authentication method for security. Although it is the newest cryptocurrency exchanges in the market, it has very quickly taken the issues of the digital security very seriously. It though fails to provide it’s users enough information about the security, but you should trust that they are doing really good as far as security is concerned and it is known that it provides it’s user with multi-tier system architecture.
As far as it is seen till now that Binance’s customer care has to be a little more up-to-date and should reply all queries to its customer and it is not that user-friendly yet as other cryptocurrency exchange but it is true that it is offering one of the best digital currency supports. Binance will continually evolve and will be much better in security and exchange services to its customers in coming days.