YouHodler: Integrating Safety Protocols to Protect Your Digital Assets
Photo by Ewan Kennedy on Unsplash
When dealing with assets you can’t hold in your hand, there’s always a fear of a hacking scenario. In fact, if you look in the news, you’ll find that cybercrime stories are a regular occurrence. That’s why it’s important to secure your personal computer with security software that will not only block viruses and malware from sneaking into your system but keep your data secure.
With the rise of cryptocurrency and other digital assets becoming commonplace in people’s portfolios, it’s essential to make sure your information and your assets are safe from thieves. That’s why on September 2, 2021, YouHodler — a fintech platform focused on cryptocurrency lending options — enlisted the help of 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 safety solutions for enterprises offering digital asset opportunities, like YouHodler. After the $200 million heist of Bitcoin in 2017, the founders of Fireblocks decided its mission was to not only investigate the hellacious cyber breach but to create a system that would stop it from ever happening again.
Bringing 20 years of technological experience with it, the team created an easy-to-use security platform for assets in the digital space to assist financial institutions in protecting assets. The company uses state-of-the-art technology to erase the need for a deposit address, which lessens the likelihood of a hacker breach.
Additionally, Fireblocks offers digital asset managers a variety of services to secure the transmission of assets between exchanges, brokers, wallets, and stores.
Adding 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, exchange crypto, fiat and stablecoins quickly and easily, and earn up to 12% APR + compounding interest by depositing crypto in their account. Users’ funds are protected with Ledger’s industry-leading and independently-certified security technology as well as their insurance program.
Since YouHodler gives its clients the option to bridge the gap between crypto and stablecoins, the exchange needed to remain secure. It integrated the Fireblocks platform to enhance its crypto transaction management protocols and bring confidence to every asset held or traded.
Bringing more security to cryptocurrencies could give more investors the boost they need to explore digital assets to round out their portfolios. YouHodler’s move benefits its own clients and might be a solid positive step for the digital investment industry overall.
Trading With Confidence
Most investors will only continue to put their hard-earned money into a market sector if they are sure they won’t lose that investment to foul play. People can reasonably expect that the market will move up and down and that they may take a loss. However, they won’t anticipate losing the investment online because someone stole their assets, and that’s where fintech companies play a crucial role in preventing such an event.
And with YouHodler’s move to add Fireblocks to its already secure platform, the company has raised the bar for other similar businesses to follow its lead.
See more from Benzinga
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
