How can we be sure that all our NOAH tokens are safe on BTCNEXT, why not keep them in a cold wallet?
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There was a conversation with the BTCNEXT technical team regarding security issues and doubts over the safety of NOAH tokens before and after the swap. In brief, here is the answer:
- All the tokens transferred to BTCNEXT are just as safe as they would be in a cold wallet. The reason is simple - besides the usual security measures, we've implemented the most important one - we place all of our exchange funds into cold storage as well. We understand that no exchange has the appropriate barrier and can be hacked. So, when we were designing the exchange, we expected that it could be hacked. That is why on the hot circulation, we've left only a small amount of funds. All major funds go directly into our cold storage. If you not trading, your funds are just as safe as they would be on your cold wallet. The BTCNEXT exchange uses only a circulation volume to support trading (it's a small amount) on hot wallets - all other funds are kept in cold storage.