Bitvavo launches regulated custodial cold storage solution

Crypto exchange Bitvavo has revealed that it has become the first digital asset provider in the Netherlands to offer an insured cold storage solution. The exchange offers over 50 different crypto assets to their European customers.

According to the crypto trading platform, this approach was taken to ensure that its trading ecosystem is as secure as possible. It is also part of the exchange’s approach towards achieving regulatory compliance and security within the crypto landscape.

The latest solution would see Bitvavo become one of the top digital asset exchange in the Netherlands and Europe. Their custodial partners are fully regulated and are insured up to $255 million.

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Bitvavo storage set to improve security

Crypto platforms have been hacked in the past leading to the loss of client assets and in some cases the shutdown of such exchanges. This has led to an increased push by many top exchanges to utilize cold wallets to store users funds.

Bitvavo intends to utilize the cold storage to mitigate the most likely client loss scenario. This could be due to hacking or breach of data security, the exchange wants to address this risk by storing clients digital assets offline.

The platform also intends to fully guarantee digital assets on its trading ecosystem by regulating with strict protocols. Bitvavo security centered approach is one of its strengths with the digital asset exchange processing close to €500 million worth of digital assets in the past 30 days and boasts a user base of over 100,000 clients.

With this latest innovation by the exchange, Bitvavo can continue its quest towards becoming one of the biggest in Europe and the world. Read more about this company in our Bitvavo review.