¿Cuán seguras son las exchanges de criptomonedas?

Just how safe are some of the crypto exchanges that so many of us rely on could some be ticking time bombs waiting to go off and which are safe and sound ever since the implosion of FTX these questions have been on everyone's mind throw in a seemingly NeverEnding stream Of online fud and it's no surprise that many people in crypto have deep misgivings about exchanges in general so in today's video we take a look at four of the biggest and best known exchanges out there and examine how safe they really are this is a video you can't afford to Miss before we dive into these exchanges it's important to state that no matter how secure you think an exchange is you can never be 100% certain that your funds are safe as long as you have to rely on a third party to hold your crypto there has to be a level of of Trust the only way that you can get that certainty without relying on trust is through self- custody now we've talked about this adium on the channel before and there are some videos in the description that look at this issue in more detail so with that caveat out of The way let's first kick off with a quick beginner's guide to one of the most well-known ways for exchanges to prove their solvency proof of reserves or P now if you want to move on to the exchange analysis right away use those timestamps below so then what is proof of reserves Well it's a method of cryptographically verifying that an exchange is actually backing the coins or tokens that it claims to hold on behalf of its users p is a process whereby The Exchange is able to in a trustless manner show that they are backing their liabilities onetoone with user assets now this is Important because if an exchange does not have all client funds backed with assets then it's running on fractional reserves that's what happened with FTX quadriga and mount goau quite simply had those exchanges done regular proof of Reserve audits it would have been very difficult for them to hide their losses There is one important caveat here though and that's having to assume that an exchange is able to satisfy both sides of the equation that is to say that they are not only able to verify asset balances but also the total value of outstanding liabilities there have been a number of exchanges that have Referred to asset balances as their proof of reserves when in fact they were only one side of the equation on the asset side of the equation wallet addresses are public and can be observed in real time on chain however when it comes to live liabilities these can only Be counted at particular times which are called snapshots these liabilities are agglomerated through cryptographic methods such as Merkel tree proofs or zero knowledge proofs quite simply these allow each and every user to confirm that their Wallet balance was included in the most recent liability snapshot if Any user is unable to do this then it means that they were not included and that there are outstanding unaccounted for liabilities a red flag now this only just scratches the surface of proof of reserves if you want a more in-depth run through then I encourage you to peruse The writings of Nick Carter from Castle Island Ventures he's one of the foremost experts on proof of reserves and while p is a relatively effective way to try and prove solvency it does have a number of shortcomings for one these are not audits in the traditional sense I.E They're not an account of the financial position of an exchange and cannot verify certain other important factors these factors include that the exchange controls the keys that they're practicing good risk management with said keys that they control their key man risk that they have strong controls against hacks Etc that they don't have Hidden liabilities or that in the event of insolvency customers are going to be senior to the claims and finally that the exchange cannot become insolvent in the future due to bad management of any of the above okay with all of that said it's time to jump into our exchange Analysis the exchanges that we're going to be looking at today are the top four by volume and reputation rank on coin market cap while CMC rankings shouldn't be the be all and end all they're among the best out there for a Rough and Ready ranking if there are other exchanges That you want us to analyze in the future then let us know in the comments I should also say that as always this video is not sponsored although we do have affiliate agreements in place with some of the exchanges full transparency so with that said let's begin our Analysis with one of the most wellknown exchanges for us users and many others besides coinbase

Los desafíos de las exchanges de criptomonedas

Now when when it comes to coinbase I don't think you need too much background that's because most of us are pretty familiar with the exchange and probably already have an account there now coinbase is the only crypto Exchange that's listed on a global stock index this is important because in order to get that listing it would have needed completely open and transparent books coinbase's accounts are fully audited by deoe a member of the big four of accounting firms what what this means is that coinbase doesn't publish or run Proof of reserves because there is the underlying assumption that fully audited accounts should suffice as security and this is a fair point in fact as far as we know coinbase is the only Global exchange that has been able to secure one of the big four as an auditor moreover publishing fully audited Accounts means that you mitigate some of those risks that I mentioned earlier you're able to have a more complete picture as to the financial position of the exchange but having said that you still can't independently as a user verify that your funds are included in a liability snapshot you'll need to trust The veracity of a Deo audit now we have no reason to doubt the word of a major accounting firm but it's still a point worth noting apart from that coinbase is one of the safest exchanges out there to our knowledge it has hasn't suffered any sort of external hack the only ones that Tend to happen are when a hacker is able to fish their way into a users's account another benefit of coinbase is that you have quazi FDIC insurance for your US dollar deposits essentially because coinbase pools user funds at FDIC insured Banks it means that their users have quote pass through insurance which Covers a per user deposit limit of 250,000 however this is only for those users who are us-based and who hold funds in US dollar so it doesn't apply to digital assets coinbase does say that it has crime insurance for digital assets however but this only covers quote a Portion which means if ever the Doomsday scenario of All Digital assets being stolen from coinbase came to pass it wouldn't be able to cover the shortfall but these are real edge cases we're talking about here the chances of a hacker getting into all of coinbase's Hot and Cold Storage should be Infinitesimally small so on balance you can be sure that coinbase is one of the safest exchanges out there if you don't have an account and want to sign up then we'll leave links Down Below on to our next exchange though and this is one of the fastest growing International exchanges Okx for those unfamiliar okx used to be called okay ex back in the day the Rebrand came early last…

La seguridad de Coinbase

Now when when it comes to coinbase I don't think you need too much background that's because most of us are pretty familiar with the exchange and probably already have an account there now coinbase is the only crypto Exchange that's listed on a global stock index this is important because in order to get that listing it would have needed completely open and transparent books coinbase's accounts are fully audited by deoe a member of the big four of accounting firms what what this means is that coinbase doesn't publish or run Proof of reserves because there is the underlying assumption that fully audited accounts should suffice as security and this is a fair point in fact as far as we know coinbase is the only Global exchange that has been able to secure one of the big four as an auditor moreover publishing fully audited Accounts means that you mitigate some of those risks that I mentioned earlier you're able to have a more complete picture as to the financial position of the exchange but having said that you still can't independently as a user verify that your funds are included in a liability snapshot you'll need to trust The veracity of a Deo audit now we have no reason to doubt the word of a major accounting firm but it's still a point worth noting apart from that coinbase is one of the safest exchanges out there to our knowledge it has hasn't suffered any sort of external hack the only ones that Tend to happen are when a hacker is able to fish their way into a users's account another benefit of coinbase is that you have quazi FDIC insurance for your US dollar deposits essentially because coinbase pools user funds at FDIC insured Banks it means that their users have quote pass through insurance which Covers a per user deposit limit of 250,000 however this is only for those users who are us-based and who hold funds in US dollar so it doesn't apply to digital assets coinbase does say that it has crime insurance for digital assets however but this only covers quote a Portion which means if ever the Doomsday scenario of All Digital assets being stolen from coinbase came to pass it wouldn't be able to cover the shortfall but these are real edge cases we're talking about here the chances of a hacker getting into all of coinbase's Hot and Cold Storage should be Infinitesimally small so on balance you can be sure that coinbase is one of the safest exchanges out there if you don't have an account and want to sign up then we'll leave links Down Below on to our next exchange though and this is one of the fastest growing International exchanges Okx for those unfamiliar okx used to be called okay ex back in the day the Rebrand came early last…