How does fractional reserve banking impact the security of digital wallets?

1 answers

• Mar 20, 2022 · 3 years ago
  At BYDFi, we prioritize the security of digital wallets. While fractional reserve banking does pose potential risks, we have implemented robust security measures to mitigate these risks. Our platform utilizes cold storage for the majority of user funds, keeping them offline and out of reach from potential hackers. We also conduct regular security audits and employ advanced encryption techniques to safeguard user assets. By taking these precautions, we aim to provide a secure environment for users to store and transact with their digital assets.
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