BitOasis is the Middle East and North America’s leading digital asset and exchange platform. Through its network, buying and using digital wallet assets is now easier and quicker than any other time in history.
BitOasis—The Multi-Signature Wallet Security
As noted earlier, BitOasis seeks to implement a suitable platform on which investors can conduct business with maximum protection of their funds. The digital assets are protected using three independent keys, which provide the highest level of security.
- User/BitOasis key: the first key stored safely on the BitOasis platform and is password-protected
- Independent security key: the second key performs the ideal security and fraud prevention checks. The BitGo stores it.
- Recovery key: the third key, which you can use to recover your funds in case of a service compromise
Why Should You Invest In BitOasis?
BitOasis offers the following advantages, which you can utilize once you sign up as an investor:
Easy To Use
Once you sign up, you can log into your account and begin sending and receiving digital assets in just minutes. You need only your e-mail address and your mobile phone number to get started.
The system uses advanced multi-signature technology that protects your assets from any act of hacking or fraud. This adds another layer of security to your investments.
To reduce chances of fraud, the management of the platform calls an investor before they can process any large or high-risk transaction. If the account owner certifies, then the system can proceed with the transaction.
The system posts all your funds and transactions directly on the blockchain. This makes it easier for investors to verify their holdings.
The system works closely with a highly reputable legal council to ensure that operations remain stable and comply with the regulations.
More importantly, BitOasis seeks to be the first company for digital assets in the MENA region
The Multisig Feature: How Does It Work?
Traditional Bitcoin wallets operate on an easy send-receive system, which is the rule of thumb for any transaction using the Bitcoin address. This system allows only 34 characters for each Bitcoin wallet. This makes the system more prone to hacking, as it’s only a one-way access. In a multi-signature system, the transactions are more secure and more complex.
The addresses have a different number of private keys that only the user can combine to gain access to the funds. As an account owner, you have two private keys to use before you can authorize a transaction. Therefore, even if a hacker gains access to one of your keys, it would be still impossible to steal your funds because the hacker would need a second key to authorize funds from your digital wallet.
The BitOasis platform understands the value of asset security, which is why it has implemented the highest level of security known as the Hierarchical Deterministic Multisignature (HDM). With three keys in three locations, chances of hacking are reduced to zero on the platform.