Considering the fact that scammers are everywhere, which app (exchange or trading platform) is the most secure to use for trading? Also, which security measure would you recommend to protect my coin once I start trading?
The primary concern should be security, as no matter how much profit we make from trading, it will be useless if we ultimately lose our assets due to the platform poor security. Here is a list of platforms that I think have good security and why:
1. CoinbaseCoinbase is not the largest platform, because the largest platform is still occupied by Binance. Some reasons why Coinbase is the safest platform today:
- Listed on NASDAQ
- Regulated by SEC & FINRA, It is an advantage if you are a U.S. citizen
- There is asset insurance in case of hacking
Of the many platforms that have never been hacked, Coinbase is one of them. It has never experienced a hack since its inception until now.
2. KrakenOne of the strong reasons why you should use this platform is because they implement military-grade security. Makes us more confident to use their platform.
3. BinanceHigh-level infrastructure, anti-fraud system & real-time monitoring. If Binance is hacked, we don't need to worry because Binance has SAFU Fund, they will compensate all our assets if major hack occurs on the platform.
4. BitstampI don't have any special reason for this platform, they have good reputation & worthy of our trust with all the regulations surrounding this platform.
5. GeminiThere are only 2 reasons for this platform:
- They are regulated by the NYDFS
- Industry level security audit, they have SOC 1 & SOC 2 certifications