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Increasing fraud cases in the crypto money market have increased the demands of investors for cold wallets. Blockchain technologies company Coinoxs announced that it has launched a special cold wallet campaign for the end of the year. Ledger S, which is shown as the most reliable cold wallet in the world, will be offered for sale with a 10% discount until January 1, within the scope of the campaign that started on 20 December.

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ISTANBUL (TR) - The lack of any regulation and control mechanism in the crypto money market increases the security concerns of investors. According to CoinMarketCap data, losses due to vulnerabilities of decentralized exchange (DeFi) types, which reached $152 billion, reached $12 billion in 2020. 10.5 billion of this was caused by fraud and theft cases. While the fraud investigations involving 5 crypto money companies, Vebitcoin, SmartTrade Coin, DogeCoin Mining and Bitrota after Thodex, continue in Turkey, security risks regarding the theft and improper use of wallets remain on the agenda. Stating that the cold wallet, which is one of the main components of the blockchain database, secures investments against theft and fraud attempts, Coinoxs co-founder Can Azizoğlu said, “The cold wallet creates a safe space for assets that leaves the control completely to the investor. With a strong immune system, it does not allow viruses developed to steal assets or obtain investor information. "It creates a firewall for assets, where only the investor has the key.”

Encourages investors to use cold wallets

Can Azizoğlu made the following assessment regarding the campaign they organized for the end of the year: “We aim to secure assets with Ledger, the world's most reliable cold wallet with a total of 4 million users, 1.5 million of which are active in the world, recommended by global broadcasting organizations such as Forbes, Techcrunch and Bloomberg. we provide. We will encourage investors to use cold wallets with our year-end campaign, which we will start on December 20. Within the scope of the campaign, we offer a 10% discount advantage until January 1, 2022, as well as installation service. Our investors can benefit from our campaign through our platform or by coming to our office.”

Don't leave the security of your investments to a 3rd party

Stating that keeping assets in hot wallets means leaving security to crypto money markets, Coinoxs co-founder Can Azizoğlu said, “Keywords strengthen the hand of investors in the security of assets. Hot wallets, on the other hand, put security under the control of third-party exchanges. Neither alone meets the security expectation. Investors should rely on a cold wallet for cryptocurrency investments, just as they rely on a safe for gold.”