Binance, recently, had introduced new features to its platform which the Secure Asset Fund (SAFU) is one of it, further justifying its relevance in the marketplace.
The Secure Asset Fund is an initiative set up by Binance to protect investors’ funds. According to Binance, this asset fund, which was established in July 2018, was made for their users’ interests, and to grow it to a considerable level, Binance decided to add to the funds 10% of every trading fee gotten on the platform.
In this article, I will explain you can benefit from the Secure Asset Fund. Join Binance to benefit from this feature.
Key Takeaways
• The secure asset fund (SAFU) is an excellent move by Binance that has culminated in building and solidifying the trust of investors on the platform.
• Binance exchange is the world’s leading crypto exchange, with numerous features and offerings to back it up.
• The secure asset fund, as of January 2021, attained a valuation of $1 billion, as announced by Changpeng Zhao, CEO of Binance.
• Other than the secure asset fund, Binance has also put in place adequate security measures to ensure that the secure asset fund (SAFU) becomes a thing of last resort.
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Binance Secure Access Fund (SAFU)
The secure asset fund, as of January 2021, attained a valuation of $1 billion, as announced by Changpeng Zhao, CEO of Binance.
Since then, the fund has continued to expand and grow, with it just recently attaining a record valuation of $1 billion. Binance decided to add to the funds 10% of every trading fee gotten on the platform. This further goes to show that the initiative is working, and with Binance constantly monitoring its progress, it can only get better.
If you wish to gain access to the secure asset fund, simply click on the fund wallet addresses, which are: wallet address 1 and wallet address 2. This will give you a picture of what the secure asset fund looks like.
Other than this, the publication of the asset fund wallet addresses goes to show that Binance, more than anything, values transparency and integrity in the crypto space.
It has urged other centralized exchanges to follow suit, as it will benefit the entire crypto space.
Other than the fact that the Binance secure asset fund is a security emergency measure, Binance also has other measures that have been put in place to protect users’ funds so that they do not get to the point where they would need to activate this emergency protocol.
Such measures are listed below.
State-of-the-Art Technology
Binance has made it clear that it has one of the best technologies, if not the best, for securing users’ funds.
This technology is said to make use of advanced artificial intelligence for facial detection and big data analytics solutions that are responsible for flagging down any suspicious activity or movement on the Binance exchange.
Excellent Support Team
Having an excellent support team that is capable of giving quick responses to users’ queries is a good way to keep your users, and this is something Binance prides itself on.
The platform is said to have one of the best support teams as they are always ready to assist users with their problems as much as they can and not just give generic responses. This is one particular measure that makes Binance unique among other crypto exchanges.
Binance Academy
The Binance Academy is a resource center set up by the Binance exchange to provide quality information regarding cryptocurrencies, including cryptocurrency security.
This tool keeps users up-to-date on the latest developments and alerts them to various crypto scams and hacks. With this, users stay in check by learning on the go, further securing themselves from social media deceit on crypto.
Security Experts and Risk Professionals
Binance also has a team consisting of the very best in the business when it comes to risk control and security management. These professionals are responsible for refining and upgrading Binance’s security and risk measures.
In the world we live in today, hackers are constantly becoming more creative with their hacking methods.
As such, it is up to security experts to make sure that they constantly lookout for new threats that may compromise the already existing security measures in place.
Binance DEX
Binance understands that a lot of investors prefer to make use of decentralized platforms as it makes them feel more in control of their cryptocurrencies without any intervention from a third party.
For this reason, it introduced the Binance DEX, which you can use to fully manage your assets, which includes the responsibility to keep them safe without the need for a centralized platform.
So, there you go, a list of some of the measures Binance has put in place to ensure that it does not activate the secure asset fund as a last resort.
Hopefully, with this, you now understand why Binance has so many investors, adding to its being the largest crypto exchange on the globe.
Final Thoughts
The Binance secure asset fund is one of the most innovative things the Binance team has come up with to date, and with that, investors have absolute confidence that their funds are secure.
If worse comes to shove, the secure asset fund can provide a soft landing for them in the event of a compromise.
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