Report: Coinbase is least risky crypto exchange to trade on

Market information aggregator CryptoCompare has named Coinbase the astir transparent and accountable crypto speech successful the world, per the firm’s latest report that ranked 150 trading platforms.

According to CryptoCompare’s researchers, the Brian Armstrong-led speech is intimately followed by crypto platforms specified arsenic Gemini, Binance, and Bitstamp. 

/1 Today, we are delighted to merchandise our #ExchangeBenchmark report.

This bi-annual study combines implicit 80 quantitative and qualitative metrics to delegate a people (AA-F) to implicit 150 progressive spot #crypto exchanges.

Read the afloat study below: https://t.co/j5eFvqNzL1

— CryptoCompare (@CryptoCompare) April 11, 2022

Notably, lone these four  exchanges received the AA rating, which means they’re the slightest risky crypto trading platforms to use. Further down the list, 11 much exchanges person received A ratings, 27 got BB ratings, and 37 person been ranked arsenic B.

Source: CryptoCompare

The study went connected to uncover that the apical 4 exchanges aren’t lone the safest but are besides liable for the bulk of transactions wrong the sector. These platforms accounted for astir 96% of each crypto trades that were made betwixt September 2021 and February 2022, the researchers pointed out.

At the aforesaid time, the full fig of top-tier exchanges has dropped implicit the past months, the researchers noted, adding:

“Due to stricter benchmark standards, lone 78 exchanges met the threshold for Top-Tier presumption successful the latest Exchange Benchmark (vs 87 successful August 2021 and 84 successful February 2021). Meanwhile, 15 exchanges person met AA-A presumption compared to 9 successful August 2021.”

Regulatory involvement is helping the assemblage grow

As CryptoSlate reported, regulators astir the satellite person been paying increasingly much attraction to the crypto manufacture lately owed to sector’s tremendous maturation implicit the past year. In turn, this has led to an summation successful scrutiny from assorted authorities that are inactive cautious of the industry.

Ultimately, CryptoCompare inferred that exchanges reacted positively to this heightened attraction arsenic galore of them person been “sharpening their processes erstwhile it comes to security, regulatory risk, and KYC policies.”

According to the report, 99% of the surveyed exchanges presently instrumentality two-factor authentication systems, aiming to assistance users amended support their funds. Apart from that, much crypto platforms present “possess speech oregon MSB licenses.”

Nonetheless, CryptoCompare has concluded that crypto trading platforms inactive person to brace for more governmental impact arsenic the manufacture goes mainstream, citing immoderate instances wherever blockchain firms were pressured to adjacent accounts belonging to Russian citizens amid the country’s struggle with Ukraine.