With the Increasing Popularity of Bitcoin, Investing in Bitcoin Must Guard Against Risks from Exchanges


Hong Kong, China -- (ReleaseWire) -- 02/25/2021 --According to data collected by The Block Research, the number of weekly tweets containing the word "Bitcoin" reached a new high this month. In the week ending February 14, there were approximately 675,000 tweets containing the word "Bitcoin", which is an increase of 17.13% from the previous peak in mid-January.

This means that Bitcoin is becoming more and more popular, and more and more people will join the queue. But for ordinary people, this time should be more alert to potential risks.

On November 2 last year, data showed that Huobi transferred a total of 100 million USDT to Bitfinex in 10 transactions (each 10 million USDT). Then HT began to plummet, and the market reported that its COO was under investigation. Although the withdrawal can still operate normally, the panic has spread. At that time, the exchange did not come forward to make any clarifications. After the news came out, HT plummeted, the lowest fell to around 3.58. In response, Huobi responded quickly, and everything is currently normal. The large outflow is USDT multi-chain liquidity adjustment. Huobi officials also reiterated that the current Huobi operating platform is normal, user assets are safe, and transactions, deposits and withdrawals are operating normally. A related person of Huobi said: "It is also in operation at ordinary times. Please don't believe in rumors or spread rumors. There is no need to panic. You can check the records on the historical chain. The authenticity can be seen at a glance."

A few days later, a document compiled by Binance executives in the possession of Forbes pointed out that the world's largest cryptocurrency exchange had designed a carefully planned corporate structure. This corporate structure is designed to deliberately deceive regulators and secretly profit from the US cryptocurrency investor community. This 2018 document details the plan to establish a US company called Tai Chi. Although Binance.US, a normally established subsidiary of Binance, has always claimed to be working hard to comply with US regulations, Cz clearly has more ideas. The original intention of establishing "Tai Chi" is likely to supplement Binance.US's high-leverage cryptocurrency derivatives trading that is forced to abandon due to strict supervision in the United States.

Although these things have all been refuted, the hidden risks are undoubtedly making everyone alert. At this time, our choice is as simple as choosing a large, secure exchange. As one of the oldest exchanges, ZB.com was formerly known as CHBTC. From 2013 to 2017, CHBTC was the vane of the industry. In 2014, the founder of Ethereum took the initiative to seek cooperation at the CHBTC booth at a conference. In 2016, CCN reported that CHBTC was one of the largest exchanges in China. In 2017, Nasdaq reported that CHBTC is the world's largest exchange of Bitcoin transactions. In 2017, CHBTC officially changed its name to ZB.com and embarked on an international business route. In 2019, ZB was listed as one of the top 5 platform currencies in the annual report by the authoritative market website CMC.

ZB.com has been operating safely for 7 years, during which there were no security incidents. At the same time, it is also the most liquid exchange in CNY and the only socialized exchange among the well-known exchanges. There are currently more than 6,000 communities in the ZB.com APP, with 300,000 daily active users. At the same time, ZB.com officials have stated that all the structures of ZB.com fully comply with local regulations. As the world's largest spot exchange, it can be said to be the least risky.

Of course, there are so many exchanges. If you decide to invest in digital currencies, you must have a very comprehensive assessment of the exchanges, so that you can guarantee the safety of your funds.