Coinovy Keeps Platform Secure with Bitgo

Coinovy provides a one-step solution to all your searches for digital finance struggles and crypto needs. Be it trading, sending, purchasing, receiving, shopping, or any other kind of transaction, Coinovy provides the best solution. This platform also provides instant loans up to $5000 within 5 minutes with no complexity of extensive application procedures. But, knowing all these exciting features, the first question that comes to mind is, does this platform provides enough security to carry out all these activities? Is it safe to join this platform and hop into this huge digital finance market?

The answer is yes! Coinovy places great emphasis on its security. They have got Bitgo on board to secure all their assets and ensure the security of all their client’s data as well. Bitgo is a digital asset securing company that provides team services of its highly qualified and professional team of Ethereum engineers to its partner companies.

Bitgo is a multi-signature digital wallet service providing company. In its services, keys are divided among some owners to manage the risk of loss or data theft. Bitgo wallets basically provide three keys: Bitgo itself holds one key, and the other two keys are held by the wallet’s owner itself. A different configuration like hot and cold, or custodial and non-custodial configurations are offered by Bitgo. Their services provide the most secure methods to platforms for storing the digital assets of their clients. The keys are generated offline so there is no online exposure, and the security risk is greatly reduced. Moreover, their cold wallets are also made secure through multi-signature technology, which eradicates the risks of single key system failures. Furthermore, security is made stronger by adding stringent steps surrounding the signing process for transactions as well as in getting, generating, or storing private keys.

When it comes to crypto exchange, people find it extremely difficult because of the fear of compromised exchanges, money laundering, and crypto fraud, and top of them all, the lack of internal controls. Among many, the most dangerous internal control weaknesses include poor cyber security programs, inappropriate key-wallet management, key generation process, and feeble diligence procedures. The huge pile of money and digital assets make it very attractive for hackers, and this is the biggest concern of people. In the last few years, hacking has become very prominent and this has caused a huge blowback to further adoption and trust. On the other hand, dramatically slow execution or unavailability of exchange due to Distributed Denial of Service (DDOS) hit leaves a negative effect on the exchange trust factor.

To address this critical element, a strong and robust corporate governance regime is required. Luckily Bitgo is one of them, providing great services to Coinovy. Bitgo facility provides insurance to digital assets through the provision of $100 million covers via the Lloyd’s of London insurance market. Then Coinovy takes care of the rest of the procedures to ensure the safety, security, and ease of its investors with great proficiency, where you can find a one-step solution marketplace to all your digital requirements. Let’s have a free visit to Coinovy and find out about its other exciting features as well.