Paxful Bitcoin Exchange Get partnered with Chainalysis
To ensure the security and privacy for Crypto users, Paxful P2P exchange will operate its operations using blockchain analysis outfit Chainalysis, reported on 23 March 2020.
A partnership with Chainalysis will provide an Investigation Software known as Chainalysis Reactor — Explore. Investigate. Take Action.
This specific technology from blockchain analysis outfit Chainalysis,
“Paxful uses the Chainalysis Reactor to conduct deep investigations and the Chainalysis KYT to monitor transactions for any illicit behavior,”
Youssef said, referring to the firm’s Know Your Transaction solution — a similar acronym to Know Your Customer, or KYC, regulations. Youssef added:
“Through working with Paxful, Youssef said, referring to the firm’s Know Your Transaction solution — a similar acronym to Know Your Customer, or KYC, regulations. Youssef added:
“Through working with Paxful, Chainalysis is evolving its policy and will evaluate P2P exchanges on a case-by-case basis before labeling them as risky, just as it does for other cryptocurrency exchanges.” is evolving its policy and will evaluate P2P exchanges on a case-by-case basis before labeling them as risky, just as it does for other cryptocurrency exchanges.”
Chainalysis observed that other P2P exchanges having questions related to safety, compared with Paxful.
A press statement said ” Paxful is setting a new standard for compliance at P2P exchanges,” Paxful CEO Ray Youssef told Cointelegraph. “Chainalysis is changing its policy based on the strides P2P exchanges like Paxful have made.”
Last 11 or so more years Bitcoin entered as a Pioneer of Cryptocurrency, working as an anonymous digital asset.
Looking forward to data safety as the most trusted wallet.
Crypto users always prefer privacy and safety, which is the most important thing for traders.
Crypto Industry looking forward to a good combination of privacy and anonymity.
Paxful ” The Paxful marketplace is for the honest users,” Youssef said in response to questions on the matter, adding:
“Like in other industries, there are bad actors who try to scam and steal money anonymously from the honest users. They are the ones who fail to provide appropriate verification and are left with only one option: to flee. KYC and KYT keep the honest users in the platform, and give them more confidence to trade.”
Risk is always their —- A subject to debate.
Recently, 1.2M Customers Avail The Bitcoin Trading, Offered By Private Italian Banks
