The crypto market has experienced rapid growth in recent years. However, behind this tremendous potential lie serious challenges related to security and privacy.
What many people are asking is what are the main challenges faced in protecting the security and privacy of users in the crypto market? How can the crypto industry overcome these challenges?
The privacy is only leaked when data breach happens in exchanges. These exchanges ask for our identity verification and ask for our details, they further stores it and when these data breaches happens, our identity gets leaked and privacy is hampered. Regarding the security, if we store the coins in online exchanges or wallets, then definitely our coins will get hacked, so yes store the coins in offline wallet only. Moreover regarding the privacy, try to avoid exchanges and do P2P deals as much as you can.
It is likely if not a certainty that the data you share with exchanges is not only shared to several different governments, it is likely that such information is also shared with other private companies which are interested in profiling you so their advertising can be even more personalized, then it is important that if you want to use centralized exchanges that you use the smallest number of them possible as a way to reduce how many times your data is shared.