Integration of security protocols to protect your digital assets

Photo by Ewan Kennedy on Unsplash

When dealing with assets that you cannot control, there is always the fear of a hacking scenario. In fact, if you look in the news, you will find that cybercrime stories happen regularly. That is why it is important to secure your personal computer with security software that will not only prevent viruses and malware from sneaking into your system, but will keep your data safe.

With the rise of cryptocurrency and other digital assets becoming commonplace in people’s wallets, it is essential to ensure that your information and assets are safe from thieves. That’s why on September 2, 2021, YouHodler – a fintech platform focused on cryptocurrency lending options – brought in Fireblocks to bring even more security and peace of mind to those who invest, hold and sell currencies like Bitcoin (BTC) or Ethereum (ETH) on its platform.

What is Fireblocks?

Fireblocks is a cybersecurity company that provides security solutions for businesses with digital asset opportunities, like YouHodler. After Bitcoin’s $ 200 million heist in 2017, the founders of Fireblocks decided its mission was not only to investigate the hellish cyber breach, but to create a system that would prevent it from happening again.

With 20 years of technological experience, the team has created an easy-to-use security platform for assets in the digital space to help financial institutions protect assets. The company uses advanced technology to remove the need for a deposit address, reducing the likelihood of a breach by a hacker.

In addition, Fireblocks offers digital asset managers a variety of services to secure the transmission of assets between exchanges, brokers, wallets and stores.

Add security to protect investors

YouHodler is a fintech platform that helps people access the benefits of the crypto economy. It allows users to get instant cash and cryptocurrency loans, trade crypto, fiat, and stablecoins quickly and easily, and earn up to 12% APR + compound interest by depositing crypto to their account. User funds are protected by Ledger’s industry-leading, independently certified security technology and their insurance program.

Since YouHodler offers its customers the opportunity to bridge the divide between cryptocurrencies and stablecoins, the exchange had to remain secure. It integrated the Fireblocks platform to improve its crypto transaction management protocols and bring trust to every asset held or traded.

Bringing more security to cryptocurrencies could give more investors the boost they need to explore digital assets to complement their portfolios. YouHodler’s move benefits its own customers and could be a solid positive step for the digital investing industry as a whole.

Negotiate with confidence

Most investors will only continue to place their hard earned money in a sector of the market if they are sure that they will not lose that investment due to criminal act. People can reasonably expect that the market will go up and down and they may experience a loss. However, they won’t expect to lose the online investment because someone has stolen their assets, and this is where fintech companies play a crucial role in preventing such an occurrence.

And with YouHodler’s decision to add Fireblocks to its already secure platform, the company has raised the bar for other similar companies to follow suit.

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