CoinEx Enhances User Trust with Updated Asset Reserve Method
CoinEx Strengthens Transparency and User Trust
CoinEx has taken a significant step in enhancing transparency and user trust by updating its asset reserve ratio. The cryptocurrency exchange, recognized for its dedication to securing user assets, has reaffirmed its commitment to maintaining a 1:1 reserve ratio. This means that for every dollar deposited by a user, CoinEx holds an equivalent amount in reserves, thereby securing users' funds and bolstering financial stability.
Details on Asset Reserve Ratios
As of the latest update, the reserve rate for CoinEx’s native token, CET, is marked at an impressive 122.3%. Furthermore, the reserve rates for major cryptocurrencies held on the platform include USDT at 118.5%, USDC at 102.34%, BTC at 100.98%, ETH at 100.08%, and DOGE at 100%. This commitment signifies a total market capitalization within wallets that has reached over $730 million, solidifying CoinEx’s status as a trustworthy trading platform. Since its inception in 2017, CoinEx has continuously maintained a 100% reserve ratio, prioritizing user asset security.
Security Infrastructure Enhancements
CoinEx places immense emphasis on its security infrastructure. It has incorporated a Merkle Tree structure that allows users to independently verify their assets, confirming their presence in the system. This structure provides a robust mechanism for ensuring accuracy and security in the platform's asset reserve data. Furthermore, the platform’s security team implements advanced mechanisms including multi-signature protocols and real-time wallet monitoring, creating a seamless trading experience for users while maintaining stringent security measures.
Commitment to Asset Protection
To mitigate potential risks, CoinEx has established an innovative initiative known as the CoinEx Shield Fund. This fund allocates 10% of trading fees for extreme risk management, further enhancing asset protection. Strategic partnerships, such as one with SlowMist, ensure the development of a robust defense system that prioritizes comprehensive protection for all users.
About CoinEx
CoinEx is a globally recognized cryptocurrency exchange launched in 2017 by the renowned mining pool ViaBTC. It is designed with user experience at its core, supporting over 1400 cryptocurrencies and serving a community of more than 10 million users across over 200 countries. With its native token, CET, CoinEx incentivizes user participation while empowering its overall ecosystem.
For further information on CoinEx’s offerings and to stay updated on new developments, feel free to reach out via email. CoinEx is here to assist you, ensuring that your experience remains secure and efficient as the cryptocurrency landscape evolves.
Frequently Asked Questions
What is the current reserve ratio for CoinEx?
CoinEx currently maintains a reserve ratio of 1:1, ensuring all user deposits are fully backed by reserves.
How does the Merkle Tree structure work?
The Merkle Tree structure enables users to verify their asset holdings independently, ensuring transparency and security in the asset data.
What measures does CoinEx take for asset protection?
CoinEx has established the CoinEx Shield Fund and implemented multi-signature protocols to protect user assets against risks.
When was CoinEx established?
CoinEx was founded in 2017 as a global cryptocurrency exchange focused on user security and trust.
What is the purpose of the CET token?
The CET token is CoinEx's native token that incentivizes user activities and supports the platform's ecosystem.
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