Is TruBit reliable?
Within the world of online investments, security and trust is paramount when choosing platforms to deposit your money. Talking about cryptocurrencies, searching for safe platforms becomes essential, so users always try to look for reviews and more information. Now we will tell you why TruBit is reliable and one of the safest platforms in the world.
We will explore all the key aspects of TruBit, such as its security, regulations and of course the investors who support the project.
So, is TruBit reliable?
If you are looking for a platform to buy and sell cryptocurrencies in Latin America, it is essential to find a very secure one. If you are wondering if TruBit is a trusted platform, the concrete answer is yes, due to its security, regulation in LATAM and its products.
TruBit is part of Galactic Holdings, a company with great experience in the online finance and cryptocurrency market. For Latin America, Galactic Holdings offers a range of products that have helped create a crypto ecosystem:
- TruBit, a wallet that provides convenient fiat on- and off-ramps, and payment solutions for LATAM, as well as recently launching TruBit Card, a Mastercard-backed cryptocurrency card. In addition, it has recently added features for sending and receiving payments to friends and family and an interesting program for earning interest on cryptocurrencies with the most popular cryptocurrencies such as USDC, USDT, BTC and more,
- TruBit Pro, an advanced cryptocurrency exchange that offers all the necessary tools for cryptocurrency trading, such as Bot, cryptocurrency interest earning programs, Perpetual Futures Contracts and a complete P2P marketplace.
- Moneta (MMXN), a stablecoin pegged to the Mexican peso.
TruBit currently has presence in the most important markets in Latin America, such as Mexico, Brazil, Venezuela, Argentina, Colombia and more.
What operating licenses does TruBit have?
Both TruBit and Galactic Holdings have operating licenses in several countries, so their operations are reliable:
- VASP in Mexico
- MSB in the United States
- PSP in Argentina
- MSB in Canada
- AUSTRAC in Australia.
TruBit and its investment: investment rounds to boost confidence
In 2023, TruBit and Galactic Holdings have been supported by significant investment rounds to increase their presence and functionality in Latin America.
- In May 2023, Galactic Holding raised $10 million, led by BAI Capital.
- In November 2023, Galactic Holdings raised $6.25 million, led by Galaxy Interactive and DragonFly, with participation from SHK.
TruBit is reliable because it has received investment rounds that ensure its expansion and participation in Latin American markets.
You can always see and learn about new investment rounds and more details about the company at Crunchbase.
Security: TruBit's priority
Cryptocurrency platforms need to have one primary feature: the security of users and assets. TruBit is reliable because it manages a set of technical functions that have made the exchange one of the most secure in the world.
These are its main features:
- High availability: Deployed with a set of several nodes and regions for a 24/7 high availability system.
- Data management: Encrypted storage, regular backups, dedicated staff management, minimum access authorization principles and regular access audits.
- Asset management: Separation of hot and cold wallets, with multi-party and multi-signature computing to ensure security of funds.
- Access control: Secure password and multi-factor authentication methods to protect users' identities from theft.
- Flexible design: Flexible architecture design, with easy expansion and diversification of functions.
- Transaction matching: Uses memory matching technology to provide maximum efficiency in spot and contract transactions.
- Knowledge synchronization: Regular learning and knowledge sharing based on functional brainstorming.
Risk Control, one of the pillars of the digital economy
Risk control is one of the most important elements in any digital platform. TruBit is a reliable platform because it has a comprehensive plan to protect both user and company assets.
Protection for users' assets:
- Cryptographic authentication for signature access.
- Hardware isolation and biometric factors to securely authenticate users and store API secrets.
- Monitoring for anomalous activity and establishing a list of rules that affect how transactions are handled and approved.
- Distribution of devices across multiple physical data centers.
Protection for the company's assets:
- Secure wallet private keys through multilateral computation.
- Credentialing and strong multi-factor authentication.
- Separation of duties between multiple organizational functions and enforcement of approval policies/workflows.
- Trusted bank-FDIC secured.
- Secure asset management and retention strategy
How long has TruBit been in existence?
TruBit has been in operation since 2020, when it operated in Mexico under the name Mexo. Due to its expansion to other Latin American markets, Mexo decided to rebrand and change its name to TruBit, during the month of October 2020.
In these almost 4 years of existence, Mexo & TruBit's security has avoided cyber attacks. There have been no cases of hacking, so users have been able to keep their cryptocurrencies and digital currencies safe.