We all know that cryptocurrency is still in its nascent stage, and investing in crypto exchanges at this point could be risky for the investors, especially the newbies. Security always remains a major concern when you choose to buy digital currency like cryptocurrency. The growing market for cryptocurrencies has a significant demand for high-quality and reliable exchanges. When the price of Bitcoin hit a record high of $28,598 and surged over $2,500 within two days, it became popular among investors, and everyone wanted to buy cryptocurrency. But, how can you be so damn sure that the exchange you prefer is a reliable and trusted choice? What are the criteria that make a crypto exchange trustworthy? As the crypto exchange is an unregulated industry, you need to keep in mind the above-mentioned factors to avoid any security breach. As an investor, you must arm yourself with a stack of good knowledge before opting to use such exchanges. So, invest wisely because you will invest your money with someone you don’t even know. Also, it is impossible to crown the best crypto exchange because it varies as per your preferences. If you plan to build your own crypto exchange, get in touch with the best crypto exchange development company and help investors keep their cryptocurrency safe in these exchanges. https://resources.experfy.com/fintech/money-safe-crypto-exchanges-3-crypto-exchanges-ensure-safety/

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Is Your Money Safe In Crypto Exchanges? Top 3
Crypto Exchanges To Ensure Safety
BY VARUN BHAGAT
August 3, 2021 | FinTech

2. We all know that cryptocurrency is still in its nascent stage, and investing in crypto exchanges
at this point could be risky for the investors, especially the newbies. Security always remains a
major concern when you choose to buy digital currency like cryptocurrency.
The growing market for cryptocurrencies has a significant demand for high-quality and reliable
exchanges. When the price of Bitcoin hit a record high of $28,598 and surged over $2,500
within two days, it became popular among investors, and everyone wanted to buy
cryptocurrency.
But, how can you be so damn sure that the exchange you prefer is a reliable and trusted
choice? What are the criteria that make a crypto exchange trustworthy?
Have a look at the factors that will help you in opting for the trusted crypto exchange.
Factors to consider before choosing up for a
cryptocurrency exchange:
While there are hundreds of cryptocurrency exchanges, only a few meet the criteria outlined
below. Read on to learn what security measures you need to look for.
1. Security

3. Making your cryptocurrency safe and secure in crypto exchanges depends on how you want
to store your cryptocurrency.
Therefore, it is crucial to choose a partner to trust and protect your funds and data with the
latest security standards and a professional security team.
Security of funds
Cryptocurrency markets are full of malicious actors and hackers who look for ways to steal
funds from your exchanges. Therefore, it is good to use an exchange with a fund recovery
plan or insurance plan.
Protection of user data
The first process you will go through is registration. You will be asked to share your email, first
and last name, country of residence, and date of birth at a minimum. That is a good amount of
private information. Add in Know Your Customer (KYC) verification and payment details used
for deposits and the stakes are high. Choose an exchange that processes your data by data-
protection laws and does not share or resell it to third parties.
2. Products and services
Crypto exchanges that offer a wide variety of payment methods, trading pairs, and a range of
financial products to please your cryptocurrency experience are the best exchanges to invest

4. in.
Deposit and withdrawal methods
Some exchanges may offer only one or two payment methods. Still, it is always a safer and
better choice to opt for a crypto exchange that offers several payment options such as debit
card, credit card, and net banking payments.
Commissions and fees
The primary source of income for cryptocurrency exchanges is its commission fees. Every time
you make an exchange or transaction, you may have to pay a fee based on the exchange fee
schedule. A generally acceptable manufacturer/buyer fee (or buyer/seller order) would be
between 0.1% and 0.2%.
Exchanges generally don’t charge any fees for deposits and only a small fee for withdrawals,
but this may differ between platforms. Some exchanges return part of the fees as a referral
commission to the user who recommended new friends sign up.
Profitability
As the crypto market grows and services develop, investing in crypto is not just about trading
and holding. The different services allow you to take advantage of your positions. This will help
you increase profitability with a range of products, with different rewards and risk ratios.
The selected exchange should provide you with profitable products with attractive profit
potentials such as savings, betting, loans, futures, and margin trading. The more developed

5. global exchanges also offer a new form of financial services called DeFi, or decentralized
finance. Competitions and draws are a bonus.
3. Reputation and track record
After selecting the right crypto exchange, it’s time to review your brand and system. Signing
up for an exchange and depositing your hard-earned money requires trust. Before sending
your money to an exchange, always check its reputation, past incidents or scandals, legal and
regulatory issues, and the system’s performance.
Top Crypto Exchanges to ensure safety and best
customer service
1. Coinbase and Coinbase Pro
The best-known and most used cryptocurrency exchange in the United States is Coinbase.
Coinbase was founded in 2012 after the Bitcoin code was released in 2009. This exchange is a
fully licensed and regulated cryptocurrency exchange.
Coinbase is currently licensed to operate in 42 U.S. states, including Washington D.C. and
Puerto Rico.
Fees: Range between $ 0.99 and $ 2.99
Pros
A solid variety of altcoin options
Extremely simple user interface
Very high liquidity
Cons
High fees when not using Coinbase Pro
The user is unable to control the wallet keys
The news with the cryptocurrency industry revolves around fraudulent coins and shady
exchanges. Investors and traders can store their investments in secured custodial portfolios
offered by Coinbase.
Coinbase offers insurance against hacking and data breaches. The cash of users is secured in
FDIC-insured bank accounts. New users find these custodial accounts convenient to use, but
the investors do not have the private key to the coins. It is Coinbase that owns the private
key to the coins.

6. Coinbase also has the free version called Coinbase Pro, which offers a cheaper fee structure
and various other options in terms of charts and indicators.
Coinbase Pro is basically for those who have learned the basics of using Coinbase, and the
users love the advanced features offered by it.
2. Cash App – Best For Beginners
Cash App acts as a bank account, and users can have their own Cash App debit cards. It is a
mobile payment service and a peer-to-peer money transfer system that allows users to
transfer money from one user to another via a mobile phone app.
The app is developed by Square, and it allows the user to buy, sell, withdraw, and deposit
bitcoins. It doubles as a custodial wallet and a bitcoin exchange.
Fees: The crypto exchange charges a service fee for each of its transactions, which is
determined by price volatility. However, these rates keep changing based on market activity.
Pros
Peer-to-peer money transfer like Venmo or Zelle
Possibility of withdrawing Bitcoin
Extremely simple user interface
Cons
It only allows investment in Bitcoin at the moment, and not in other cryptocurrencies.
3% charge when sending money via linked credit card
Withdrawal limit of $2,000 in Bitcoin every 24 hours
Withdrawal limit of $5,000 in Bitcoin every seven days
It allows its users to invest in ETFs, stocks, and bitcoins. This exchange uses a mobile-first
interface, so that new users can quickly discover and use it.
3. Binance
Binance is the world’s largest crypto exchange, and it allows you to buy and sell crypto in
minutes. With this, users can trade anywhere with safety and convenience. It offers a secure,
fast, and seamless trading experience to the investors.
The exchange offers more than 100 different trading pairs between other cryptocurrencies
and fiat-crypto pairs.
Pros

7. Lower fees than other common-use exchanges
Wide variety of cryptocurrencies and trading pairs
More advanced graphics
Cons
Aimed at more advanced users
Binance U.S. has fewer pairs
Concluding Thoughts
As the crypto exchange is an unregulated industry, you need to keep in mind the above-
mentioned factors to avoid any security breach. As an investor, you must arm yourself with a
stack of good knowledge before opting to use such exchanges.
So, invest wisely because you will invest your money with someone you don’t even know. Also,
it is impossible to crown the best crypto exchange because it varies as per your preferences.
If you plan to build your own crypto exchange, get in touch with the best crypto exchange
development company and help investors keep their cryptocurrency safe in these exchanges.
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