IXFI is created to be user-centred and encourages even beginners to start their crypto journey. Cybersecurity is, perhaps, the most important aspect, I agree entirely. The key is being open to all possibilities, positive and negative, entering the market. I think the Metaverse will certainly change society, like any other big invention of the past, but that doesn’t mean it will necessarily be in a negative sense, I think. As long as we stay informed and are cautious enough, I trust that humanity will triumph over any challenge posed by the virtual world.
Ishan Pandey: Hi Cristian, welcome to our series “Behind the Startup.” Please tell us about yourself and the story behind IXFI?
Cristian Andrei: Hi Ishan and thank you for having me on your series. It’s a great pleasure! As for my story, just like everyone else’s, I can say that it’s a long one. I’ll try to keep it short. I have been involved in the industry since 2016 and my experiences with many aspects of the crypto market often left me disappointed. The idea of IXFI was probably born at the moment when I realized that instead of waiting for changes to happen, I should be part of that change. So, in short, I wanted to create a place for others to enjoy the positive aspects of crypto exchange without all of that associated disappointment. IXFI is created to be user-centred and encourages even beginners to start their crypto journey.
Ishan Pandey: How does a crypto-based debit card work?
Cristian Andrei: It’s a bit difficult to imagine for some, I’m sure. The truth is, it’s not much different from a traditional debit card. But, instead of being connected with a bank, the card connects a crypto payment processing company with your crypto wallet. With a crypto debit card, you can make transactions at any merchant that accepts debit cards, so pretty much everywhere, but you use the funds in your crypto wallet instead of those in your bank account.
Ishan Pandey: Cybersecurity is critical for crypto exchanges. Please tell us about the best cybersecurity practices that a crypto exchange must follow?
Cristian Andrei: Cybersecurity is, perhaps, the most important aspect, I agree entirely. That’s why a crypto exchange must prioritize finding the best solutions to protect its users. For example, we ensured that logins can be secured with both email and phone authentication, which makes an account significantly harder to hack. Other security measures we have implemented are 2 Factor Authentication such as Google Authentication, SMS Authentication, Anti-phishing Code and also we have a Device Management System, where we can keep track of logged-in devices with IP addresses.
Ishan Pandey: The parent organization of Facebook, Meta, is seeking deeper compatibility with blockchain technology and Metaverse. What are your views on Metaverse? Further, do you think it will break the fabric of our society?
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