If you don’t have the private key you don’t own the funds
Bitcoin and other cryptocurrencies were created with the intention of allowing people to completely own and control their own assets. No one else could access their funds or interfere with them. This is, however, only the case for those who have the private key to their funds, they are the only one who can sign transactions with that private key and are therefore the sole owner and are in complete control of their funds. Unfortunately, many people involved with cryptocurrency doesn’t really realize this and are just storing their crypto funds on exchanges where they bought them. It might feel like you own your cryptocurrency when it’s still on exchanges, cuz it is your account after all, but that is not quite how things work. When you log into exchanges and see let’s say 1.231 BTC in your account, it just means that the exchange owes you 1.231 BTC, but if something happens to the exchange such as a hack which results in the exchange losing all their Bitcoin, you are kinda screwed. Yea they still owe you 1.231 BTC, but they don’t have any left, so chances are that you will never see any of that 1.231 BTC you bought. A project by the name of SafeCrypt has identified this very issue and has set out on a mission to create a crypto exchange which eliminates this risk when using their exchange.
Remain the sole owner of your funds while trading
The main difference between the SafeCrypto exchange and other cryptocurrency exchanges like Binance or Coinbase, is that you never hand over your funds to anyone while carrying out a trade on the exchange. You only hand over your fund, when you simultaneously receive the funds from the order you have executed on the market. What this means is that you are trading directly with other people, not a huge stack of money owned by an exchange. Besides from this very notable feature, SafeCrypt comes with many more features such as the ability to trade more than 44 different cryptocurrencies on the exchange, complete anonymity of traders, instant transactions and more.
SFC token sale
SafeCrypto is currently running a token sale selling their SFC token, which will be used within the SafeCrypto ecosystem once the product is finished. A total of 1,075,000,000 FSC is for sale during this token sale and bonuses apply depending on amount contributed. If you wish to learn more about their token sale, please visit their official website here https://safecrypt.io/.
SafeCrypt introduction video
If you find this project interesting and wish to learn more about it or their token sale, you can visit the following links below and read their whitepaper. To keep yourself up to date on the project, you can follow their social media accounts also linked below.
ANN Thread: https://bitcointalk.org/index.php?topic=2399904
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