So, what are the safest crypto exchanges?
Let’s find out below.
Despite the global availability, Kraken has not compromised on the security front to satisfy the demand.
In fact, it is one of the most secure crypto exchanges out there.
Like all reliable exchanges, Kraken stores the vast majority of user deposits offline.
Its servers are surveilled by armed guards, while employee access to them is strictly controlled.
What’s more, Kraken encrypts all sensitive user information and has robust protection against cyberattacks in place.
And in terms of user-level security features, it utilizes two-factor authentication, email confirmations for withdrawals, etc.
There are no private keys at Gemini’s offices.
Instead, the keys are geographically distributed at secure data centersaccess to which is restricted.
So, what are the downsides?
Like Gemini, Coinbase stores most of its crypto offline in a cold wallet.
Furthermore, the company claims that 98 percent of the deposits are stored in guarded facilities.
Coinbase accounts havemulti-factor authenticationenabled, which adds another layer of security and helps prevent breaches and phishing attacks.
Coinbase supports trading over 100 cryptocurrencies, but fees are relatively high compared to other exchanges.
But what is its safety profile like?
Multi-factor authentication and withdrawal protection are in place to protect user funds.
The former includes biometric and email verification, so you have multiple options for authentication.
It has since introduced additional safety features.
Binance is more than decentwhen it comes to security as well.
The platform keeps most user funds and assets in cold storage.
