Module 6.0.0. SOC Safety Checks
Before you deposit your crypto, you must first consider the safety of your funds. The School of Cryptocurrency (SOC) of EdaFace Academy has designed Safety Checks you can use to guide you in such crypto investment.
These safety checks are made up of Seven Security Questions (A to G) you must answer before joining any Lending Platform. These seven security questions are:
(A). Is the Lending Platform being regulated by a government agency?
(B). Is the wallet the Lending Platform keeps your asset in safe?
(C). Can you use your cold wallet on the Lending Platform?
(D). Is there a clean record of no crime breach of the Lending Platform?
(E). Are there any periodical financial audits of the Lending Platform’s services?
(F). Does the Lending Platform have adequate insurance coverage for the deposited funds?
(G). Can you end the contract at any time and withdraw your funds easily from the Lending Platform?