Adam Cole Jacobs, the co-founder and CSO of Spend.com and Bitsdaq, a new digital exchange supported by Bittrex, says one of the main “challenges facing the cryptocurrency industry is security threats from untrustworthy exchanges.”
He explains to CryptoGlobe that cryptocurrencies are still in their early stages. This is new technology and he says many new exchanges have security flaws. Compromising the trust of users will weed out the less reliable exchanges, but there will be growing pains in the meantime.
There are products and services to help cryptocurrencies be more dependable. “Creating secure wallets that can hold multiple digital and fiat currencies will be crucial in increasing user adoption and making cryptocurrency more spendable. Users need something that allows them to buy, sell, store, manage, and exchange different kinds of currencies in one place.” Jacobs said.
Read the full article here: https://www.cryptoglobe.com/latest/2019/03/what-s-good-for-crypto-exchanges-is-good-for-the-industry/
Image source: CryptoGlobe