Airbitz Security Unaffected by Bitstamp

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Hello Bitcoin Community,

We’d like to let our users know that the security vulnerabilities affecting exchanges such as Bitstamp and last year, MtGox, have no affect on Airbitz. The Airbitz wallet does not host user funds on our servers and all data is strongly encrypted on each user’s device using each individual user’s credentials (login & password). Web servers hosting funds for users are a major security vulnerability, and we strongly recommend users control their own private keys using wallets, such as Airbitz, that enforce strong client-side encryption and backup. Bitcoin exists to allow users to hold and control their money and holding money in hosted services supports the banking infrastructure that bitcoin was intended to disrupt.

For Airbitz users, we do recommend switching the source of USD exchange rate data from Bitstamp to Coinbase to receive more accurate exchange rates. Users can do this on the Settings screen shown below.

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Thanks for supporting Airbitz and here’s to a stronger, more resilient Bitcoin in 2015.

Paul Puey
CEO / Airbitz

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