The digital asset market provides a large number of crypto exchanges, among which it is not so easy to choose the right one for work. In order to understand which is the most reliable cryptocurrency exchange, it is necessary to evaluate the technical functionality of the site, study its history, and compare working conditions with other platforms.
However, the growth of interest in virtual currency leads to an increase in the distrust factor towards listed companies. Therefore, more and more users are looking for safe Internet resources that involve minimal risks.
How to evaluate security
Security – according to buidlbee, this indicator is one of the main ones that should be studied when choosing the best option for work. On the Internet, you can find information about whether there have been hacks in the history of the company. The next steps should take into account the following points:
- Link to site. If it starts with HTTPS, then you have a more secure data transfer protocol than standard HTTP. This means that the information is transmitted in encrypted form;
- Two-factor authentication. A secure cryptocurrency exchange offers a similar feature to protect users from possible hacking;
- Public press releases on audit programs.
It will not be superfluous to familiarize yourself with the security measures that the platform has taken. This can be both protection from illegal operations, and from vulnerabilities, hacks. As a rule, reliable companies do not hide the names of the owners, CEO, etc. The ideal option is when the Internet resource contains information with the real address of the organization.
An easy and quick way to find out about trusted cryptocurrency exchanges is to read reviews on specialized forums. But it is important to understand that the recommendations of random users may not always be true. Some unscrupulous sites buy bots that spread positive reviews.
The Top 6 Safest Cryptocurrency Exchanges
- StormGain is an option for those who value anonymity. With this platform, you can buy coins, keep a deposit, trade and exchange cryptocurrency, as well as earn.
- Coinmama is an excellent cryptocurrency exchange for new traders that does not store users’ assets. All you need to do is open an account, confirm your registration details, put in your card information, select coins and their amount to get. Coinmama does not require any prior trading knowledge. Coinmama was one of the first cryptocurrency exchanges who made it possible to get coins with bank cards, that’s why many beginners choose Coinmama.
- Paxful is a large P2P marketplace that enables the purchase and sale of Bitcoin, Tether and Ethereum directly. Buyers are insured by an escrow account during a transaction on Paxful. When a trade is opened, the cryptocurrency is transferred from the seller’s wallet to the Paxful service storage account and remains there until the transaction has been made, when both users confirm the transfer of funds.
- WhiteBIT is a crypto exchange with a simple and intuitive interface with tournaments for traders. The main goal of the company is to provide a secure and easy-to-use platform. The exchange requires users to pass a KYC check. All this tells us about the quality work of the company and the trust of customers. Moreover, the platform provides a number of services with a minimum trading commission, which makes the WhiteBit exchange one of the leaders in this field.
- Binance is the exchange where everyone is interested in SAFU. The platform works with users from all over the world and receives the most positive feedback from the crypto community. Rating on the Coinmarketcap service (1st place): 9.7 points. For comparison, the 2nd place score is already 8.9 points. The exchange has its own BNB coin, which costs only $0.1 after the ICO.
- Bybit is a modern and stable platform. The exchange will be interesting for experienced traders as it supports margin trading with leverage up to 100x. On Bybit, users have the ability to deposit and withdraw funds fairly quickly.
There are hundreds of such sites around the world. Therefore, it is difficult for a novice trader to choose a reliable company. The rating of crypto exchanges will help to do this. It includes top cryptocurrency exchanges that have established themselves as reliable and trustworthy platforms.
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