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BitOasis - The premier bitcoin exchange in the Middle East and North America protects users' bitcoins at the highest level by utilizing 3 independent keys, positioned in 3 different locations, making it difficult for hackers to steal users' assets.
BitOasis Review: The leading virtual currency bitcoin trading platform in the Middle East
1. BitOasis - Multi-Signature Wallet Security.
2. Why Invest in BitOasis?.
3. Multisig Feature: How Does It Work?.
4. Other Cryptocurrency Exchanges.
Reviewing BitOasis: The Premier Bitcoin Exchange in the Middle East
1. BitOasis - Multi-Signature Wallet Security
As previously mentioned, BitOasis aims to provide a suitable platform for investors to trade with their funds being maximally protected. Cryptocurrency is secured by utilizing 3 independent keys, offering the highest level of security.
- User Lock / BitOasis: The first key is securely stored on the BitOasis platform and protected by a password.
- Independent Security Key: The second key performs security checks and prevents fraud. BitGo stores this key.
- Recovery Key: The third key you can use to recover your funds in case of service compromise.
2. Why Invest in BitOasis?
BitOasis offers many advantages to users upon registration as investors, including:
- Easy to Use: Once registered, you can log into your account and start sending and receiving bitcoin in just a few minutes. Note that you need to use an email address and phone number to get started.
Is BitOasis Exchange a Scam?
- Utilizing Multi-Signature Technology: The system employs advanced multi-signature technology to safeguard users' assets from fraudulent activities. This invisibly adds an extra layer of security to users' investments.
- Protecting Users from Fraudulent Activities: To mitigate the risk of fraudulent activities, the platform management will call investors before they process any large or high-risk transactions. If the account owner confirms, the system will proceed with the transaction.
In every transaction, the price of Bitcoin needs to be given top priority. Knowing the current price of Bitcoin, you will have profitable trades for yourself.
3. How does the Multisig Feature Work?
According to the BitOasis exchange review, traditional bitcoin wallets operate based on a simple send-receive system, which is the general rule for any transaction using a bitcoin address. This system allows only 34 characters per bitcoin wallet. This invisibly makes the system vulnerable to attacks. In the multi-signature system, transactions are secure and more complex.
Different addresses have different private keys that only users can combine to access funds. As an account holder, you have 2 private keys to use before authorizing a transaction. So even if hackers gain access to one of your keys, they still can't steal money because there's no second key to authorize transfers from your digital wallet.
Bitcoin is a virtual currency with significant value today, but not everyone knows the proper and cost-effective ways to mine Bitcoin. Only those who are ahead, finding the optimal way to mine bitcoin, can achieve good results.
Understanding the value of securing bitcoin is safe, which is why BitOasis implements the highest level of security called Hierarchical Deterministic Multisignature (HDM). With 3 keys in 3 different locations, hackers will have no chance to steal users' assets.
4. Other Cryptocurrency Exchanges
- eToro Exchange Platform
- C-CEX Exchange Platform
- Bittrex Exchange Platform
Here, Mytour has extensively and specifically reviewed BitOasis exchange. With strong security capabilities and convenient trading, BitOasis stands out as the leading bitcoin exchange in the Middle East and North America alongside exchanges like Kraken and HitBTC , both trusted by many Bitcoin players.
- More: HitBTC Exchange Review
