Back in January, a Japanese cryptocurrency exchange had over $500 million stolen by hackers. The cybercriminals managed to steal roughly 523 million in NEM coins. NEM is a cryptocurrency which aims to help companies and businesses manage data digitally. Consequently, the digital token fell about 20% on the following day. In addition, just yesterday, an Indian cryptocurrency exchange called Coinsecure reported having $3 million dollars stolen. These instances, amongst many others, show the importance of choosing a secure cryptocurrency exchange for yourself. An exchange you can rely on, and sleep peacefully at night knowing your digital assets will not be stolen, and if stolen then refunded.

Which cryptocurrency exchange offers the most reliable security features? Huobi Pro. Huobi Pro has just launched two new security mechanisms which fall under the umbrella of “Huobi Buybacks”. Huobi Buybacks include “Huobi User Protection Fund” and “Huobi Security Reserve”. Let’s delve into what they are in simpler terms:

1) Huobi User Protection Fund — Through this new initiative, Huobi will be using 20% of their income to buy back as many Huobi Tokens (HTs) as possible. Following this, the newly possesed Huobi Tokens will be stored, and used to compensate user losses in case of theft or platform breaches and to improve Huobi’s security.

2) Huobi Security Reserve — This new reserve created by Huobi holds a total of 20,000 bitcoins. The funds currently sit on an an independent address. Similar to the case of “Huobi User Protection Fund”, Huobi uses these funds to to compensate user losses. As soon as any security breach takes place, the funds stored in the reserve will be used to pay back users provided they weren’t at fault.

With these “Huobi Buybacks” initiatives, Huobi guarantees in full, security for its users and for their digital assets. Personally, I’ve been using Huobi Pro and I cannot be happier with my choice.

Learn more about Huobi Buybacks using this link!

By Jaime Gutt.