CRYPTO GLOSSARY

Proof of reserves

A report some exchanges publish to show they hold customers' coins. It is not an audit and often leaves out what the company owes.

Proof of reserves in more detail

Some exchanges publish proof-of-reserves reports to show they hold customers' coins. These help, but know their limits. The US audit regulator warns that they "are not audits". They show assets at one moment, often leave out what the company owes, and give no assurance about what happens later.

FROM LESSON 13 · 5 MIN READHow to choose an exchangeA seven-point checklist for choosing a crypto exchange, covering registration, custody, proof of reserves, security, fees and withdrawals.Read the lesson

All 128 terms · Checked against the lesson's sources on 8 October 2026.

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