With the recent cases of crypto theft, happening at a very high rate, investors are now intentional about the platforms they use to trade or invest their digital assets. In 2021, crypto criminals stole a record US $3.2 billion worth of cryptocurrency, which is a fivefold increase from 2020.
There is no disputing the fact that crypto crime, which is on the rise, is gradually becoming a crime fast-growing enterprise. Most crypto platforms have started building sophisticated secured platforms, as security is an indispensable factor to be considered in any industry.
Aside from top security as a major priority, investors also look out for crypto exchange platforms that have the following; ease of use, trading fees, and the number of coins available for trading.
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To help you find the crypto exchange platform that meets your expectations in safety, ease of use, and the likes, here is a list of the top 5 best-regulated crypto exchange platforms that investors prefer to use;
Top five (5) Best Regulated Crypto Platforms That Investors Prefer
- Coinbase: Coinbase is an American publicly traded company that operates a cryptocurrency exchange platform. The platform is one of the most trusted cryptocurrency exchanges today. It secures cash on FDIC-Secured accounts and lets you securely connect and trade crypto via your bank account and blocks suspicious accounts to ensure user safety. This platform uses several security measures meant to secure user funds from theft and hacking in case of an eventuality. The crypto exchange platform has reportedly traded over $150 billion of digital assets so far, and is now a publicly traded company on the Nasdaq stock exchange, with close to 100 million users. The exchange platform has been considered to be one of the best crypto exchanges for beginners.
- Kraken: With no major hacking event since its launch of trading operations in 2013, Kraken has been described as one of the most established crypto exchanges on the market. While being the oldest isn’t always synonymous with the best, the platform has top-notch security, with more than 120 coins to choose from domestically with lower trading fees, making it a good choice for investors just starting with crypto. With the high level of theft ravaging most crypto platforms, Kraken takes its commitment to security seriously. The platform offers safe coin storage with 95% of deposits held offline in cold storage units spread worldwide. Its servers are kept in secure cages under 24/7 surveillance by armed guards and video monitors.
- Robinhood: This exchange platform is a U.S zero commission broker that allows its clients to invest in stocks, options, ETFs, and Crypto. The platform is designed to sell these assets in a user-friendly manner. Talking about the safety of the platform, Robinhood is a safe and legit brokerage regulated by the U.S Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Robinhood holds a majority of investors’ coins in cold storage fully disconnecting them from the internet, adding an additional layer of protection. Since investors cannot transfer their digital assets from their accounts, there is no way they can be stolen.
- Binance: This cryptocurrency exchange platform is said to be the largest exchange in the world in terms of the daily trading volume of cryptocurrencies. Founded in 2017, Binance is considered a safe exchange that allows user account protection via the use of Two-factor authentication. The platform exchange’s low fees have made it a major player, no wonder Binance stays ahead of the pack when it comes to trading volume. The platform, which is home to over 100 million users worldwide, facilitated trillions of pounds worth of trading activity in the first six months of 2021 alone.
- Gemini: This exchange platform is a regulated cryptocurrency exchange/ wallet that makes it simple and secure to buy Bitcoin, Ethereum, and other digital assets. It is available as a mobile app and a web platform, with an appealing feature for beginners, investors, and active traders. Gemini upholds the highest standards of security and operational compliance, having completed SOC 1 Type 1& Type 2, and SOC 2 Type 1 & Type 2 examinations, also earning the ISO 27001 certification. The platform has never had any history of being hacked, making it one of the most secure crypto exchanges.
Despite recent setbacks, cryptocurrency has remained a wildly popular new asset class for investors. However, asides from the fact that these exchange platforms above-mentioned are often the most preferred choice of investors, it is advisable for you to do a thorough research and compare any of the platforms, to choose your preferred option.