Proof of Keys is an initiative launched by Trace Mayer. The idea of the initiative is that every year on January 3, users withdraw their funds from exchanges (where they do not own private keys) to wallets, where they have access to private keys. This initiative is very important to make sure that people really have funds safe and can withdraw them. Some people use exchanges to store funds and this is not the right solution as some exchanges may only partially have funds to back deposits. Every crypto user should store their crypto in wallets they have the private keys to. This is one of the main features of the Blockchain, the user can have full control of their funds.

Practice showed that on January 3, some exchanges have difficulty withdrawing funds and some users are waiting for a few days or more! This is an additional proof that users should be more attentive to where they should store their funds. An exchange is a convenient tool for trading, but not for holding funds.

SmartCash supports this initiative and encourages all users to withdraw their SMART, BTC and other coins from exchanges. You can use a local SmartCash wallet, Electrum, mobile wallets (Coinomi, Edge), where you have access to private keys.

Bitcoin Confidential is also a supporter of this initiative. Users can use desktop wallets for Windows, Mac, and Linux to support this initiative and ensure that funds are under their control.

We also recommend checking out the interview with the founder of the initiative, which was done last year: