Crypto trading has come to stay and the concern on how we transact our digital assets is very important.
From time to time we’ve been met by the news of a platform that was compromised and people counting their losses in the attack.
If you see crypto investment and trading as a serious business and wish to stay in it for long-term then security is one of those things you should take seriously.
On our list is a roundup of the top 6 crypto trading platforms with good security infrastructure plus other impressive attributes.
Just like so many other secure exchanges, Coinbase uses cold storage infrastructure to store its assets. Other security measures include two-step login verification, biometric fingerprint logins, and appropriate insurance in case of lost cause by Coinbase and AES 256 wallet encryption.
Started in 2012, Coinbase is headquartered in San Francisco with over 56 million registered users worldwide. The trading worth of $335 billion takes place on the platform per quarter.
eToro has deployed some of the best security measures to protect users’ funds some of these measures include multi-signature facilities, DDoS protection, and standardization protocols. And funds in the platform are kept in reputable banks for maximum security.
Started in 2006, eToro is headquartered in Limassol, Cyprus with over 13 million users worldwide. In May, 2020 the platform was worth over $2.5 billion.
This is one of the crypto exchanges that can boast of never having been hacked.
During signup, users are required to enable the 2-factor authentication.
At the back end, Gemini uses cold storage infrastructure to keep crypto tokens safe from hackers.
Started in 2014, Gemini is headquartered in San Francisco with over 13 million active users worldwide.
This platform also deploys cold-storage infrastructure to store its assets. Don’t forget Robinhood is basically a broker, you can use other wallets to store your Crypto this is not necessarily for security reasons but for charges. The reason is that Robinhood offers a hot wallet suitable for frequent transactions.
Started in 2013, Robinhood is headquartered in San Francisco with over 13 million users worldwide with a trading worth of over $300 billion takes place on the platform per quarter.
This is one of the crypto exchanges that has never been hacked. Security measures include 2FA withdrawal email confirmation, air-gapped cold storage, strict surveillance, precise API key permission, and website SSL encryption.
Started in 2011, Kraken is headquartered in San Francisco with over 56 million users worldwide.
This platform makes sure users make use of 2-factor authentication to maximize users’ safety.
Unfortunately, before now Binance was hacked on May 7, 2019, which led to the loss of 7000 Bitcoin.
After that time security measures were put in place and nothing of the sort occurred again.
Started in 2017, Binance is headquartered in San Francisco with over 13 million active users worldwide.
After choosing a secure platform it’s still your responsibility to keep your account safe. Below are some tips to make sure your account never gets compromised:
Don’t share your keys or password no matter what.
- Enable 2-factor authentication when login in and multiple signatures should be used to complete different transactions.
- Choose your wallet depending on the purpose. An offline wallet should be used for saving while a hot wallet is suitable for trading.
- Update your software when required. Up-to-date software can come with the latest security infrastructure to help protect your account.
- Backup your keys. You won’t believe the number of assets that are locked up in wallets with no access keys. Don’t ever make the mistake of not having a separate backup of your keys; you may live to regret it.
Anyone who has been around the crypto circle for a while must have come across a case of lost assets to ponzi scheme sites or any other investment ideas that doesn’t hold water when properly checked. It’s no surprise such sites and schemes still exist and it’s your duty to stay away from those.
Securing your assets isn’t difficult, you just have to do the right things by following the best platforms, best practices and the best tips to be on the safe side.