Are Bitcoin and Cryptocurrency Exchanges safe?

Elbaite is the cryptocurrency exchange designed for Australian traders seeking safety, security and simplicity.

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Australian owned and operated

What you should know about Bitcoin hacks

Man trading on Elbaite from his phone

Exchanges that hold users' cryptocurrency are a target for hackers.

Did you know that more than $11 billion worth of crypto has been hacked or stolen since 2011?

Every year:

  • On average 10 exchanges are hacked
  • Most investors are unable to recover their funds after hacks


"Billions of dollars have been hacked and stolen from crypto exchanges"



Other ways exchanges can lose your crypto:

  • Inability of exchanges to access crypto wallets when they lose wallet keys.
  • Fraud and scams where exchange operators run away with their user's cryptocurrency

Timeline of notable bitcoin hacks and cryptocurrency scams

Timeline of cryptocurrency hacks

How Elbaite solves these problems

Man trading on Elbaite from his phone

We do not hold your cryptocurrency

These events are why we have created this solution unique to Elbaite.
Elbaite is Australia’s first non-custodial cryptocurrency exchange which means we do not hold your Bitcoin.
Experience the security of buying and selling Bitcoin straight from your personal wallet.

Simply, there is no deposit or withdrawal process to access your Bitcoin. You can sell and buy Bitcoin directly to your hardware wallet, online wallet or any wallet of your choice!
This means that your Bitcoin is safely with you at all times!

Remember, not your keys, not your Bitcoin!

Why escrow the fiat?

Your Bitcoin is safe when you use Elbaite

Man trading on Elbaite from his phone

Safety

Elbaite’s escrow bank account makes selling BTC to AUD safe. The buyer will send your AUD to our escrow Australian bank account. This means when you sell crypto on Elbaite you will never be at risk of chargeback fraud.

You will always receive your money straight to your bank account, from us! Your bank details will never be shared with the buyer.

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How Elbaite works

Buyer purchases from an offer in the marketplace

Elbaite collects the AUD payment in minutes

Seller sends crypto directly to buyer's wallet

Elbaite releases AUD to seller's bank account