New study reveals the safest crypto exchanges to keep your coins secure in the market crash

A new study from BrokerChooser has revealed the safest and most secure cryptocurrency exchanges in 2022.

The crypto market’s recent significant downturn has left investors with their top priority firmly planted in the protection and safety of their assets.

To help investors navigate the risky and unregulated world of crypto, experts at BrokerChooser analysed the largest cryptocurrency exchanges on four main pillars: regulation, consumer protection, market fairness and transparency to reveal the safest exchanges for investors.

The study claims that the safest crypto exchange overall is Coinbase, which is also the largest crypto exchange in the US by trading volume. Coinbase was ranked as tier 1 for the majority of sub-categories, being known for its robust security features. Given an overall safety score of 4.1/5, Coinbase is BrokerChooser’s top pick for secure crypto exchanges.

In second place, FTX US Derivatives falls into tier 1 for the majority of index factors, though was somewhat let down when it comes to transparency, with a score of 2.3 - offering little to no financial or legal transparency and complex products. Nevertheless, an overall safety score of 4.0/5 places FTX US Derivatives in a strong position in the study.

In third place is Bitstamp, with an overall safety score of 3.8/5. Bitstamp keeps 98 per cent of assets offline in cold crypto storage, which is the most secure form of crypto storage as it is protected from potential hacking breaches and hasn’t experienced any regulatory incidents in the last five years.

Further findings suggest that in terms of regulation, three exchanges scored a perfect score of 5 out of 5: FTX US Derivatives, Gemini & Kraken Futures. However, two exchanges, KuCoin and Bybit, scored just 1 out of 5 when it came to regulation, the lowest possible score.

When it comes to consumer protection, no exchange scored a perfect 5 out of 5, but the best performing exchange in this regard was Gemini, with 4.8. The worst performing exchange for protecting its users is OKX, the only exchange to score just 1 out of 5 for this pillar.

Two exchanges got full marks when it comes to the pillar of market fairness: FTX US Derivatives and Bittrex. Again, OKX and Bybit come out as the worst-performing exchanges in this pillar and they are joined by Gate.io.

Transparency is key to ensuring that consumers feel protected and for this pillar, Coinbase was once again the top-ranking exchange. A large number of exchanges scored poorly when it comes to a lack of transparency, with six different exchanges all scoring just 1 out of 5 for this factor, including Binance, OKX, KuCoin, Gate.io, Bybit, and Phemex.

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