Crypto Exchange Rating 2023: How investors can strike a balance between security and quality of service
And the extent of the adequacy of financial regulators' decisions
Mind presents the first comprehensive analysis of centralised cryptocurrency exchanges available to Ukrainian users. The rating approach is based on the parallel study of three groups of factors: security, liquidity, and service quality. Not only reliability, regulatory and technical risks were taken into account , but also trading commissions, the availability of deposit/withdrawal of funds from Ukraine, and so on. That is, the total score reflects a comprehensive assessment of the exchange based on all parameters important for a client from Ukraine.
No exchange has received the highest rating. This is due to the partial shadowing of owners, regulatory risks, or the tendency of beneficiaries to operate in offshore areas. The highest rating – 4 out of 5 stars was immediately given to six of the 22 analysed exchanges: Kraken, Coinbase, Binance, Huobi, Whitebit, and Bitstamp. All these platforms are equally reliable, but there are minor risks in their work that do not allow customers to feel maximally confident and secure.
Our editors do not recommend working with token exchanges that have got 3 or less stars. As the regulatory landscape is actively changing, various countries are creating new regulatory legislation and conducting checks, thus any technical or security risks can significantly affect the safety of customer assets.
In February, we published a guide on using cryptocurrency exchanges, where we dissected what to pay attention to and what risks
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