Canadian Exchange Shakepay Gets Cold Wallet Insurance to Protect Customer Funds

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Crypto exchange Shakepay, which describes itself as “Canada’s fastest-growing bitcoin platform,” conducted a “proof-of-reserves” audit and acquired an insurance policy to reinforce its security, perhaps learning a lesson from fellow Canadian platforms QuadrigaCX, Einstein and Coinsquare, which all lost customer funds or have otherwise been involved in scandals over the past 20 months.

The Montreal-based crypto exchange hired blockchain forensics firm CipherBlade to conduct a full audit of its reserves and security policies. To safeguard its customers’ funds, the exchange also tapped a third-party custodian and secured a specific insurance policy for its cold wallets through Aon, underwritten by insurers with Lloyd’s of London, the exchange announced Wednesday.

Shakepay CEO Jean Amiouny told CoinDesk the exchange supports bitcoin buying and selling, but tries not to actually hold onto its customers crypto holdings any longer than necessary.

Related: Deribit Suffers Outage Over ‘Hardware Issues,’ May Miss Thursday’s Options Expiry

This reduces

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Compare Today’s Best Exchange Rates From The UK’s Biggest Currency Suppliers

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Every five minutes we compare hundreds of exchange rates and currency deals from a wide range of UK travel money suppliers so you can see in an instant who is offering the best deals. You can order online for free home delivery or find your nearest currency supplier to collect in person. Also, if you’ve returned home with any leftover currency; we’ll show you where you can exchange it back at the best price.

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Travel Money: The best foreign exchange rates

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Reserve Money of Crypto Money and Foreign Exchange Markets: Dollar

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The US Dollar is considered as a reserve currency today. We can say that this is also a valid discourse for the investment world. Because current data shows that no fiat money can even come close to the dollar in cryptocurrency and foreign exchange transactions.

Crypto Money Transactions
Currently, almost every country has its own cryptocurrency exchange. At its simplest, crypto currency investors in Turkey were able to use several different crypto currency exchange. But for what purpose do people use the stock markets in their countries?

Today, many (if not all) investors use local exchanges only as a step to switch to global exchanges. After these investors switch to global stock markets, they stop using TRY and are trading with USD. This is true not only for Turkey, Japan, South Korea, Germany, etc. It is also valid for such countries.

We can see the effects of this when we

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