WARSAW, POLAND, Nov. 25, 2022 (GLOBE NEWSWIRE) -- 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 following the collapse of prominent market players. After the largest centralized exchange, Binance, backed out of a rescue deal for the second largest industry peer following reports of mishandled customer funds, investors’ trust in centralized crypto exchanges plummeted. As many have pointed out, it was poor management and the use its own token as collateral, that led to the exchange’s downfall, rather than a failure of the centralized-exchange business model or underlying technology.
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 contagion effect is unfortunate for investors across the crypto market first and foremost, but users' fear of centralised exchanges is now affecting the whole crypto industry,” says CFO of XBO.com, Dor Maman. “We wish to reassure XBO users that their assets are safe and held 1:1, with no exposure to currency rate swings. We adhere to the greatest industry standards in terms of compliance and security, and we always put our users first.”
About XBO:
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/
