What are the advantages and disadvantages of including a self-signed certificate in the chain for digital currency exchanges?

3 answers

• May 03, 2022 · 3 years ago
  Including a self-signed certificate in the chain for digital currency exchanges can provide an added layer of security. By using a self-signed certificate, exchanges can ensure that their communications are encrypted and protected from unauthorized access. This can help prevent hacking and data breaches, which are major concerns in the cryptocurrency industry. However, one disadvantage of using a self-signed certificate is that it may not be recognized by all web browsers and operating systems. This could lead to compatibility issues and potential trust issues for users who are not familiar with self-signed certificates.
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• May 03, 2022 · 3 years ago
  Including a self-signed certificate in the chain for digital currency exchanges can also offer cost savings. Unlike obtaining a certificate from a trusted third-party certificate authority, which can be expensive, self-signed certificates can be generated and used without any additional cost. However, the downside is that self-signed certificates do not provide the same level of trust and validation as certificates issued by trusted authorities. This could potentially raise concerns among users who rely on the credibility and security of the exchange.
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• May 03, 2022 · 3 years ago
  At BYDFi, we believe that including a self-signed certificate in the chain for digital currency exchanges can be a viable option for smaller exchanges or startups with limited resources. It allows them to establish a secure connection without incurring additional costs. However, it's important to note that self-signed certificates should be used with caution and in conjunction with other security measures to ensure the overall safety of the exchange and its users.
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