Bitcoin may have made headlines more than any other cryptocurrency and essentially paved the way for the industry, but there are several other altcoins that are forging their own path. While some of the more high-profile ones, like Ethereum, Ripple, and Litecoin, are widely considered as the top competitors for Bitcoin, other altcoins focus on more niche markets and showcase features that are of paramount importance for some users – like anonymity. Anonymous cryptocurrencies have piqued the interest of investors and traders alike, with many underlining their increased potential for security. As cybercrime rates keep rising and hackers continue to target crypto exchanges and accounts, are anonymous cryptocurrencies a way to increase security with regard to your transactions?
Safeguarding your data when dealing with cryptocurrencies
One big concern in many industries as of late has been the ways in which companies can improve their data security. It is often said that data is the lifeblood of an organization and that also holds true for crypto exchanges. Individual user accounts hold a significant wealth of information, not least the altcoin tokens themselves. They also store and process personal data of users, which can be of use to hackers looking to commit identity theft or sell personal details on the black market. Sensitive information like banking details are very often included in this wealth of information, as crypto wallets are often linked to an actual bank account in fiat currency. Protecting all this valuable data from external threats, like cybercriminals, as well as internal threats, such as careless or negligent users, is the main objective of a sound data security policy. This includes deploying unified security policies across data hosted both on premises and in the cloud. While most of those security solutions are the responsibility of the crypto exchange,