BANKEX has launched Custody Service, a blockchain-based cryptocurrency storage solution with no minimum deposit limit. BANKEX Custody offers complete protection from the three main threats to safe cryptocurrency storage: human factors, physical damage, and online attackers.

At present, BANKEX Custody accepts Bitcoin, Bitcoin Cash, Ethereum, and Litecoin, and is available by invitation only. In the future, the vault-concierge service aims to become the most trusted and convenient all-in-one crypto storage solution.

While the promise of security is one of the basic features of cryptocurrency, the fear of compromising this security is one of the major barriers to universal acceptance of crypto transactions. In addition, cryptocurrency holders have had to be cautious.

Digital assets have none of the physical attributes that we are accustomed to – no plastic cards, banknotes, or customer service line. Users with unresolved questions and crypto-related issues typically find themselves on their own. This significantly hinders the integration of cryptocurrencies into daily life.

Storage that Covers Crypto Risks

BANKEX Custody offers services for identity management and safekeeping of digital assets. No minimum deposit is necessary to take advantage of customer services or security benefits. Typical human factor risks, such as forgetting your password, as well as the risk of physical damage to storage media and online threats from hackers, are completely resolved for all users.

Furthermore, Custody offers customer service similar to offline concierge services. This includes convenient access to accounts using email and passwords, as well as transaction assistance. Custody offers password recovery and the option to set up and manage backup systems.

To put it simply, BANKEX Custody is an online safe, a “vault” that securely stores digital assets. BANKEX has gathered the best and the brightest blockchain security engineers to make sure that its security standards are second to none.

BANKEX Сustody currently accepts BTC, ETH, LTC, and BCH for storage and expects to accept BKX, the utility token for the BANKEX ecosystem, for both payment and storage in the near future. An all-in-one storage solution is also planned in time for the public release.

Shedding Light on the Dark Side of Crypto Security

Without a private key, all the cryptocurrencies in your wallet are inaccessible. The chances of losing it may be low, but cannot be ruled out completely.

Recovering lost coins is, “…extremely improbable, and effectively impossible,” says Bitcoin researcher Greg Schvey. “This is what the security of Bitcoin is actually based on. The system is so secure that, If you’ve lost your private key, you may not be able to recover it.”

A likely scenario is a when a user only accesses their crypto wallet using an app on their mobile device, without any backups. If that mobile device is lost or stolen, so is the wallet and all the cryptocurrency in it. The same is true with software that stores wallet data on a computer. Without backups, the risk of loss due to theft, damage, or a mistaken keystroke is always present.

To date, more than $1.2 billion in Bitcoin and Ether have been stolen from crypto exchanges and wallets by hackers. BANKEX Custody safeguards your crypto assets with the highest level of security, while exchanges and wallets don’t. BANKEX has developed a geographically-distributed and internally-isolated solution that ensures 100% protection from hacking attacks and internal fraud.

In addition to the threats covered by BANKEX Custody, such as hacking, lost passwords and wallet keys, and physical damage to key-storage devices, users will have to think about the long term. The untimely death of a crypto-holder who has not left any specific instructions for the distribution of their assets is one eventuality that will have to be provisioned for.

Probate issues can be complicated and often depend on local legislation. BANKEX Custody service is already developing practical solutions for management of intestate legacy accounts. User agreements with Custody concierge services will soon include default dispersal agreements that are legally binding for probate courts in all jurisdictions.

The First Truly Customer-Centric Crypto Vault

Management BANKEX offers a friendly and easy-to-use interface, so clients can manage their assets easily and intuitively. Clients can make deposits or withdrawals, check their balance, and view their transaction history at any time.

Accessibility BANKEX provides 24/7 access, guaranteed. Clients will be able to withdraw their assets at any time, with no fees. Standard transactions are simple – just enter a destination address and the amount. Once verified, a transfer takes between several minutes and two business days. With development of the Enterprise Plasma platform, transaction times should be greatly improved in the near future.

Support BANKEX adheres to an unprecedented service level agreement for handling funds. BANKEX provides expert live chat customer service to assist clients in resolving problems. BANKEX offers client support every step of the way.

To know more, click here.