When it comes to trading cryptocurrencies, security is a top concern for most users. SunCrypto, India's leading cryptocurrency exchange, has made significant strides to ensure the safety of its platform, offering users peace of mind while trading.
SunCrypto is registered under the Financial Intelligence Unit of India, operating under the Ministry of Finance, which adds a layer of legitimacy to the platform. With a trusted user base of 16 lakh (1.6 million) members in just three years, it is evident that many users rely on and trust the services provided by SunCrypto.
One of the key aspects of SunCrypto’s safety is its top-notch security infrastructure. The platform is built with advanced technology and grade-A security features that safeguard user data, cryptocurrency holdings, INR balances, and wallets. This ensures that unauthorized entities do not have access to sensitive information or funds.
Additional Safety
In terms of fund safety, SunCrypto takes an extra step by storing 85% of its users' funds in cold multi-signature wallets, with Ledger providing custody. Cold wallets, being offline, are less vulnerable to hacks, which adds a robust layer of security.
Additionally, the platform carries out regular fund audits to maintain a 1:1 ratio of reserves to liabilities, ensuring that every user’s funds are fully backed and available for withdrawal at any time. Users can even verify these figures via SunCrypto’s Proof of Reserves (PoR) and Proof of Liabilities (PoL) reports, which are transparently available.
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Moreover, SunCrypto doesn’t provide any custody service, we use the custody services of Ledger, which is a hardware wallet service provider.
SunCrypto stored the majority of its cryptocurrency holdings in Ledger's crypto vaults, which are backed by $150 million in user fund insurance from Ledger, which guarantees that users' funds are protected, even in worst-case scenarios. This insurance offers an added sense of security, making SunCrypto a safe platform for trading.
Being among the top 5 crypto exchanges in India, with over 320 cryptocurrencies available for trading directly in INR, SunCrypto has proven its reliability. The platform is constantly evolving, with new features like Crypto SIPs and Algo trading set to launch soon.
Conclusion
SunCrypto is not just a platform—it’s a secure environment built with user safety in mind. With strong security measures, insurance, and user-centric features, it is undeniably a safe choice for trading cryptocurrency.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. All content provided is for informational purposes only, and shall not be relied upon as financial/investment advice. Opinions shared, if any, are only shared for information and education purposes. Although the best efforts have been made to ensure all information is accurate and up to date, occasionally unintended errors or misprints may occur. We recommend you do your own research or consult an expert before making any investment decision. You may write to us at [email protected].