The Most Secure Cryptocurrency Exchanges in 2019
Most Secure Cryptocurrency Exchanges
There are many cryptocurrency exchanges, but which ones are the most secure? To start with, security is important. While some crypto exchanges boast very high security standards, some have had breaches in the past. When choosing an exchange, be sure to learn more about their history of security breaches. Nevertheless, security should not be confused with privacy. If you feel that your information is not secure, choose another exchange. This article outlines the most secure cryptocurrency exchanges in 2019.
Gemini, the first crypto exchange to receive a SOC-2 certification, is another good choice. These examinations are conducted by third-party auditors and determine a company’s compliance with regulations. While four exchanges received a perfect score, two of them were only partially or fully compliant. The scores of KuCoin, Bybit, and OKX were below average, which is a sign of unreliable exchanges.
The Most Secure Cryptocurrency Exchanges in 2019
Coinbase: Another cryptocurrency exchange that offers excellent security is Kraken. It is widely used by beginners and is popular worldwide. Besides, it supports 40 cryptocurrencies, including BTC. As a most secure crypto exchange by daily market volume, Kraken has been around for years. The site is also one of the safest, with a highly intuitive UI and excellent website performance. The exchange also supports bank cards and offers analytical tools similar to Coinbase.
Gemini: As an insured and regulated company, Gemini has taken several steps to protect its users. Their crypto is insured, and their internal controls are highly stringent. Moreover, multiple signatories are required for transferring crypto out of cold storage. All employees are subjected to criminal background checks, and Gemini also has a strict system of internal controls. Users are not allowed to transfer crypto to individuals, such as Tyler Winklevoss.
Centralized Cryptocurrency Exchanges: The biggest drawback of centralized cryptocurrency exchanges is account safety. While they offer high liquidity and active trading, centralized exchanges pose a risk to users’ accounts. Centralized exchanges are also vulnerable to hackers, and KYC can also be inconvenient for some users. On the other hand, decentralized exchanges are a better option for those who are worried about losing their crypto due to security flaws.