Crypto.com Releases Proof of Reserves: Verify Your Funds Now

Following industry-wide calls for transparency, Crypto.com has released its audited Proof of Reserves (PoR). This significant step allows users to independently verify the security of their holdings on the platform. According to a statement published on its website on Friday, digital asset exchange, Crypto.com, announced the release of its audited proof-of-reserves, demonstrating its commitment to user trust.

What is Crypto.com's Proof of Reserves?

Crypto.com has released an audited proof-of-reserves page, showing that the exchange has enough crypto assets to back its liabilities to customers, according to a Dec. 9 announcement. The PoR provides a snapshot of the exchange's crypto asset holdings and liabilities, allowing users to cross-reference this information against their own account balances.

How to Verify Your Funds on Crypto.com

Crypto.com’s PoR verification page makes it easy for you to ensure that your funds are safely held 1:1 in reserve by Crypto.com. This video explains how to verify your funds in just a few clicks. For a step-by-step guide, visit the Crypto.com Proof of Reserves page. Crypto.com customers who opened an account before the PoR audit are able to independently verify that their account balances for audited tokens have been included in the PoR.

Why is Proof of Reserves Important?

The release of Crypto.com's Proof of Reserves is a crucial measure of transparency, building confidence in the platform's ability to meet its obligations to users. It allows for independent verification, addressing concerns about solvency and security within the cryptocurrency exchange ecosystem.

Still Have Questions?

If you still have questions about the Crypto.com Proof of Reserves, please visit the official Crypto.com help center or consult their FAQs. Stay informed and secure your crypto investments by understanding the importance of Proof of Reserves.