Arwen Announces Partnership with Crypto Exchange KuCoin
- The crypto security firm says its service should better protect traders using the exchange
Arwen, the cryptocurrency trading solution, not the Lord of the Rings character, announced on Monday that it has partnered with exchange operator KuCoin.
The news comes on the same day that Arwen announced that its solution would be going live.
Launched last year, the company says that it is going to make cryptocurrency trading on exchanges safer.
It plans on doing that by launching a solution that means users don’t have to store their assets with an exchange.
Currently, most cryptocurrency exchanges have a fairly basic set-up. A user deposits their cryptocurrency with the exchange, and it is held in one account.
That means that an exchange that gets hacked is going to suffer exponentially more damage than another company which segregates its clients' funds.
The reason for this is that, if a hacker does gain access to an exchange’s wallet, they gain access to ALL of their clients’ deposits.
That’s the reason that criminals have been able to steal hundreds of millions of dollars in one go over the past couple of years.
Solving the problem
Arwen says that it has solved this problem by creating a solution that enables people to trade with an exchange without storing their cryptocurrency with the exchange.
On top of this, the company says that users of its solution can trade without Slippage Slippage In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price Read this Term but still maintain solid trading speeds.
“Centralized exchanges are valuable pools of Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term for traders,” said Arwen CEO Sharon Goldberg. “The problem is that trading on centralized exchanges without an advanced security system is inherently risky for traders. If an exchange is compromised during a trade, customer funds are at risk. With Arwen, customer funds are secure even if an exchange is hacked.”
Arwen, the cryptocurrency trading solution, not the Lord of the Rings character, announced on Monday that it has partnered with exchange operator KuCoin.
The news comes on the same day that Arwen announced that its solution would be going live.
Launched last year, the company says that it is going to make cryptocurrency trading on exchanges safer.
It plans on doing that by launching a solution that means users don’t have to store their assets with an exchange.
Currently, most cryptocurrency exchanges have a fairly basic set-up. A user deposits their cryptocurrency with the exchange, and it is held in one account.
That means that an exchange that gets hacked is going to suffer exponentially more damage than another company which segregates its clients' funds.
The reason for this is that, if a hacker does gain access to an exchange’s wallet, they gain access to ALL of their clients’ deposits.
That’s the reason that criminals have been able to steal hundreds of millions of dollars in one go over the past couple of years.
Solving the problem
Arwen says that it has solved this problem by creating a solution that enables people to trade with an exchange without storing their cryptocurrency with the exchange.
On top of this, the company says that users of its solution can trade without Slippage Slippage In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price Read this Term but still maintain solid trading speeds.
“Centralized exchanges are valuable pools of Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term for traders,” said Arwen CEO Sharon Goldberg. “The problem is that trading on centralized exchanges without an advanced security system is inherently risky for traders. If an exchange is compromised during a trade, customer funds are at risk. With Arwen, customer funds are secure even if an exchange is hacked.”