Finally Cuba Has Its Own Bitcoin Exchange, But Decentralized, Which Has Doubtful Safety

The Italian-Cuban entrepreneur has launched Qbita Exchange, a peer-to-peer Bitcoin crypto asset exchange intended for Cubans. However, managers ignore the potential danger behind it, reflecting on the previous case in the same class.

Despite the blocking, embargo and financial sanctions that have hit the island nation, the Cuban people have proven to be adept at overcoming obstacles. And a Cuban, uses crypto-asset blockchain to overcome that obstacle.

Earlier this month, Mario Mazzola, creator of the Qbita ultra-lightweight Bitcoin wallet, launched Qbita Exchange, the first decentralized crypto asset exchange in Cuba.

“I made Qbita Exchange, because I always believed that here in Cuba, Bitcoin is a real need. This service can also encourage Cuba to catch up with other countries in the crypto asset trade, “Mazzola told Decrypt .

Considering that this exchange has a decentralized character, users do not need to worry about security, because the private key is directly controlled by each user, not the platform manager.

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Decentralized exchange actually does not always guarantee the safety of user funds. Not long ago, the decentralized exchange Bisq announced that hacking had taken place in its system. The crypto assets of Bitcoin (BTC) and Monero (XMR) valued at US $ 250,000 (Rp4 billion) have also disappeared.

Posing as a normal user, hackers steal 3 Bitcoin and 4000 Monero worth a total of Rp4 billion belonging to other users of the crypto asset exchange. Bisq promised to compensate.

In a statement on his website at the time, Bisq explained that hackers had exploited weaknesses in the Bisq trading protocol, targeting users to take funds.

“We know there are around 3 BTC and 4000 XMR that were stolen from 7 different users. “The only pair that was affected was XMR / BTC, which occurred during the last 12 days,” Bisq said.

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