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Choosing a Secure Crypto Exchange: Key Safety Criteria

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by A1

5 hours ago


There are over 1500 cryptocurrency exchanges, both centralized and decentralized. Security and reliability are critical factors when making a choice.

Key Criteria for Secure Crypto Exchanges

To select a reliable crypto exchange, consider several key criteria. These determine the platform's security and include the user interface, supported cryptocurrencies, fees, and, most importantly, security features.

Additional Tools for Users

Some exchanges offer additional security tools, such as checking inflows and outflows via DeFiLlama and using Google Authenticator for extra protection.

You can start by using DeFiLlama to check inflows and outflows, then you check POR for each CEX you want to use. Because CEX is centralized, sometime doing due diligence is kind og hard as there is not much data points. But in conclusion, you want to use the CEX most people are using.Mikybull Crypto

Comparison of Several Crypto Exchanges

Compare several brokers based on trading volumes, fees, and market capitalization. Data are sourced from official statements by cryptocurrency exchanges and conducted studies.

While using a CEX, some of the best security measures I can suggest is not to dump all your assets in one CEX to avoid FTX kind of situation. Also, always use Google Authenticator to double protect yourself. Nowadays, there are phishing emails targeted to CEX users emails claiming to come from the CEX an individual is using.Mikybull Crypto

Choosing a reliable crypto exchange requires careful examination of its security and functionality, considering expert opinions on security.

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