Bitcoin platform Shakepay introduces “Proof of Reserves” report and cold wallet insurance

Shakepay, a Canadian-essentially based bitcoin platform, on the present time announced it has added extra safeguards for its possibilities by a third-birthday party proof of reserves and security account with CipherBlade, moreover to a 1-to-1 frigid pockets insurance plans by Aon.

In show to originate more belief within the Bitcoin industry for Canadians, Shakepay has taken wanted proactive measures to elongate belief by a public third-birthday party review and one amongst basically the most stringent insurance insurance policies on hand out there on the market.

Shakepay affords possibilities the liberty to pass their funds off of the platform and precise into a inner most pockets at once without the concern of hefty charges or vulnerability to security breaches or hacks. With both insurance and standard security opinions, Shakepay has confirmed itself a chief for self-sovereignty and self-custody, providing the safeguards and instruments wanted to enable possibilities to manipulate their funds on their very possess terms.


Jean Amiouny, CEO of Shakepay acknowledged, “It’s crucial that our possibilities accumulate full transparency into our operations and know the map their funds are being handled. Whereas we actively back our possibilities to retailer their digital currencies in wallets they alter, we want to provide Canadians joining the Bitcoin ecosystem with peace of mind when discovering out about Bitcoin.”

Shakepay has a specie insurance plans placed by the registered dealer, Aon, which is underwritten by advantageous insurers on the sphere’s leading insurance market, Lloyd’s of London. In difference to many insurance insurance policies old by digital forex platforms that entirely quilt a a part of customer funds in case of theft or loss, the policy taken out by Shakepay affords protection on 100% of the funds kept in Shakepay’s frigid storage. Shakepay intends to continue growing its protection as required.

This insurance plans comes in tandem with the results of a review by CipherBlade, a blockchain investigation company. In July, Shakepay engaged CipherBlade to provide to the team with a “Proof of Reserves” by a third-birthday party security review. CipherBlade verified all fiat and digital forex balances, scrutinized transaction processes and procedures, evaluated security measures to defend frigid and warm wallets moreover to background checks on all workers. The final account containing the public third-birthday party review can also moreover be chanced on here.

“By bettering the safety of its operations, Shakepay has taken the essential steps to forestall security breaches or breaches of customer funds, however true as importantly, it demonstrates their commitment to being entirely transparent with their possibilities, monetary companions, and regulators. We wait for this come to alter into an industry-favorite within the approaching years,” added Paul Sibenik, Lead Case Manager at CipherBlade.

“We pride ourselves on the stable procedures we accumulate now in save apart that abet space the factors for transparency and security on this dwelling, and we within the raze back Canadian Bitcoin stakeholders to put together swimsuit,” added Amiouny.

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