Report: Coinbase is least dangerous crypto alternate to commerce on

by Cryptospacey

Market information aggregator CryptoCompare has named Coinbase probably the most clear and accountable crypto alternate on the planet, per the agency’s newest report that ranked 150 buying and selling platforms.

In line with CryptoCompare’s researchers, the Brian Armstrong-led alternate is carefully adopted by crypto platforms equivalent to Gemini, Binance, and Bitstamp. 

Notably, solely these 4  exchanges acquired the AA score, which suggests they’re the least dangerous crypto buying and selling platforms to make use of. Additional down the checklist, 11 extra exchanges have acquired A rankings, 27 received BB rankings, and 37 have been ranked as B.

Supply: CryptoCompare

The report went on to disclose that the highest 4 exchanges aren’t solely the most secure however are additionally accountable for almost all of transactions throughout the sector. These platforms accounted for round 96% of all crypto trades that have been made between September 2021 and February 2022, the researchers identified.

On the identical time, the full variety of top-tier exchanges has dropped over the previous months, the researchers famous, including:

“Resulting from stricter benchmark requirements, solely 78 exchanges met the brink for High-Tier standing within the newest Change Benchmark (vs 87 in August 2021 and 84 in February 2021). In the meantime, 15 exchanges have met AA-A standing in comparison with 9 in August 2021.”

Regulatory curiosity helps the sector develop

As CryptoSlate reported, regulators all over the world have been paying more and more extra consideration to the crypto trade currently resulting from sector’s large development over the previous 12 months. In flip, this has led to a rise in scrutiny from numerous authorities which can be nonetheless cautious of the trade.

Finally, CryptoCompare inferred that exchanges reacted positively to this heightened consideration as lots of them have been “sharpening their processes in the case of safety, regulatory danger, and KYC insurance policies.”

In line with the report, 99% of the surveyed exchanges presently implement two-factor authentication methods, aiming to assist customers higher shield their funds. Aside from that, extra crypto platforms now “possess alternate or MSB licenses.”

Nonetheless, CryptoCompare has concluded that crypto buying and selling platforms nonetheless need to brace for extra political affect because the trade goes mainstream, citing some cases the place blockchain corporations have been pressured to shut accounts belonging to Russian residents amid the nation’s battle with Ukraine.

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