22, Th6 2022
How is JPEX Crypto Platform in the new Bear market? Steady development!
The cryptocurrency exchange is always playing an important role in the industry, and the security of platforms is highly related to the security of investors’ assets. From the very beginning, the collapse of cryptocurrency exchanges continuously comes up: for example: Due to the hack event, Mt.Gox has lost 850,000 Bitcoins and finally filed for bankruptcy, and users still didn’t get paid back till now.
Since then, though this specific industry has been getting mature and having relative systems established continuously, “collapsed” trading platforms still appear one after another. For example, in the year of 2020, the well-known trading platform – Fcoin showed a run on a bank due to its capital loophole which made it unable to continue the rigid payment to user assets, and the users could not withdraw their coins. BHEX trading platform made off with money by taking advantage of the withdrawal of mainland Chinese users. At the end of last year, Aofex’s team was investigated and unable to provide coin withdrawal service, due to which, all users having assets deposited in A network haven’t got any method to take out their coins so far.
This year, Kraken, which is trading platform with a long history, shut down its headquarters located in San Francisco headquarters. Celsius Network, the world’s largest CeFi provider and encrypted lending platform suspended all money transfers, withdrawals and transactions due to a Black Swan incident in the market. In addition, the well-known trading platform AEX (formally known as Bitcoin Era) was revealed to be unable to withdraw coins at present, and medium and long-term financial products can not be dealt with in a short time. And Huobi Thailand will be closed in early July. Moreover, up to now, the number of small and unknown exchanges that have made off is countless, especially in the context that the industry as a whole faces a downward tendency, those weak trading platforms are now facing a tougher test.
The exchange should put the security of the platform and users’ assets in the first place. Although cryptocurrency exchanges continuously make breakthroughs in their functions, security is gradually becoming the primary concern that impedes the development of the industry. Particularly, some small platforms transferred the risks to users and harmed investors’ interests after the assets got stolen. The rights of users can’t be guaranteed without the alert, regulatory and risk reserve mechanism, especially when the market is facing downward pressure.
JPEX, as a well-established trading platform, always focuses efforts on the security of the platform and users’ assets and related mechanisms, and positively looks for global compliance to become the benchmark ecology in the aspect of assets security. It’s worth mentioning that since JPEX launched in 2020, there has been no security issue happened, which reflects the high-security level of JPEX.
Setting security as the cornerstone, JPEX brings considerable returns for its users
JPEX always puts investors’ rights and trading experience in the first place. Under the premise of ensuring the safety of user assets, JPEX allows users to furtherly make profits. As an Australian exchange, JPEX is maintained by development teams from Japan, Australia, and the United States. Therefore, JPEX itself has an excellent risk control mechanism and provides safe and reliable service to its users via its own technology.
In terms of security, JPEX Digital Bank chooses point-to-point multi-signature cold wallet, which is currently one of the safest ways for storing user assets. Multi-signature means that to assets can be withdrawn from the account unless satisfying the requirement of multiple roles’ signatures. Therefore, compared with single-point wallets, it further improves asset security. In JPEX Digital Bank’s peer-to-peer multi-signature cold wallet, in order to take out assets from the JPEX Cold Wallet, two times of signatures by three professional security personnel from the operating team are required, and the whole process is offline. So far, 95% of the money value is stored in the cold wallet, while JPEX will only reserve 5% of the currency for cash withdrawal and recharging. At the same time, JPEX has also hired a well-known computer security team of the United States to cooperate in external password review, multi-signature wallet, two-step verification and other aspects to ensure that users’ sensitive personal information will not be disclosed. JPEX only checks withdrawals once in 24 hours on an exchange with a flexible treatment method, so that users may go through the whole coin withdrawal process within eight hours after proposing the withdrawal request.
Besides, JPEX itself also builds the risk reserve mechanism via insurance. The property management insurance plan covers all users who completed platform KYC, with 75,000 USDT maximum benefit, the cover rate is equal to 90% of global financial institutions’ requirements. Therefore, even in some cases where users suffer losses, the insurance can safeguard users’ rights. Besides, JPEX is regulated and licensed to engage in cryptocurrency activities in many countries.
With respect to the return, the IAIA (Ito Arbitrage Investment App) Cryptocurrency Circular Arbitrage System originally created by the Japanese intelligent technology team allows users to gain income from more than 30 pairs of cryptocurrencies, and interest will be calculated daily. Especially when the funds is extracted from the DeFi sector (currently the TVL of DeFi is only $20 billion), the whole sector is risky and the income is weak, JPEX is very attractive.
So far, it has managed more than 15.6 billion assets worldwide, with several hundred thousand users. JPEX has an important place in the respect of asset management products.
The multi-dimension and panoramic layout of JPEX
On the basis of improving its products, JPEX is continuously expanding its ecology to more financially developed areas. According to the 1st development plan published in the 2nd quarter of 2022, JPEX furtherly illustrated its business focus. It announced that JPEX will expand globally in 2022 and 2023, and the target market will include Malaysia, Taiwan and Dubai. JPEX’s business also includes cryptocurrency technology development, optimizing trading platform experience and NFT technology and service, etc. JPEX is always committed to providing more investment opportunities and excellent trading services to users in different areas.
Meanwhile, JPEX is setting foot in the traditional area, except establishing strategic partnerships with renowned listed companies, JPEX is also setting foot in the sports area: JPEX has prompted the NFT jointly with Western Sydney Wanderers Football Club, established a strategic relationship with the Macarthur FC and other high-quality sports partners to prompt the cryptocurrency widely known by the public. JPEX is becoming another renowned crypto ecology setting foot in sports areas besides Coinbase, FTX and OKX.
The recent development of JPEX also gets furtherly recognized by the industry. JPEX successively won the “Excellence Blockchain Asset Trading Platform Award” in “Excellence Brand Award” held by Oriental Daily News and on.cc in 2022. JPEX also won the “2021 Outstanding Blockchain Asset Trading Platform Award” by Elite Brand Awards.
Besides, JPEX also becomes the platinum sponsor of Singapore Blockchain Fest 2022. It should be noted that JPEX is the first sponsor in the history of Blockchain Fest.
JPEX is becoming the vanguard of the cryptocurrency exchange sector. with a stable and healthy layout, JPEX brings stable and healthy service to its users. Although the market is facing downward pressure, JPEX is bringing a reliable investment ecology to investors and becoming a forceful promotor of the industry.
- By Sean