Can I ask a legitimate question about how bitstamp handles or takes care of its liquidity?
In light of this nasty bitfinex news about USDT, I’m legitmetly curious as to how bitstamp handles its money? How exchanges work is a bit over my head anyways, but I just want to remain supportive of bitstamp in the future, thanks.
I’d like to assure you that Bitstamp places a great emphasis on the security of our users’ account and their balances.
Multi-Sig technology is implemented to our hot wallet, where only a very small portion of cryptocurrency (around 2%) is kept, while the majority is safely stored offline in cold storage systems.
When it comes to fiat deposits, they are in fact not with Bitstamp but with the bank(s) to which the transfer was sent.
All funds credited to your account are always covered and available for you to withdraw if you wish to do so.
And finally, all aspects and departments of Bitstamp are scrutinized – from regular external financial audits, code reviews and penetration tests, examinations and reporting of financial balances. This enables Bitstamp to reach the highest levels of security and consumer protection.