Cryptocurrency has taken the world by storm. With Bitcoin rising to its new all-time high, organizations and individuals rushed into purchasing what’s believed to be digital gold. Many realized they couldn’t miss this lucrative investing opportunity. According to Don’t Disappoint Me, there was a statistic that show 2.35% increase in people who owned crypto in 2024 compared to 2019.
However, the cryptocurrency market is flooded with scams and fake exchanges, attempting to steal people’s funds. This is why it’s essential to explore the platforms before investing.
Even though one way to protect your crypto assets is to store them in private wallets, some may prefer exchanges. There, people can trade or instantly sell their funds if that’s what they need. These are some of the safest cryptocurrency exchanges today where your funds are secure.
Coinbase – Great Altcoin Offer
Coinbase is a fully regulated and licensed cryptocurrency exchange in the US. It was launched in 2012, and it operates in over 100 countries. Coinbase has a great offer of altcoins, a simple user interface, and high liquidity.
It’s one of those exchanges that help new cryptocurrency investors enter the market due to its simplicity. It also offers custodial wallets for investors and traders. These have insurance against data breaches and hacking. Unfortunately, users don’t have control over private keys.
Binance – Advanced Charting Feature
Binance was founded in 2017. Today, it dominates the crypto world with many fiat-crypto trading pairs, low fees, and advanced charting. This exchange allows for USD deposits by SWIFT and direct purchase with credit or debit cards.
When it comes to safety, Binance Trust Wallet is generally safe, while the exchange offers two-factor authentication for protection. This exchange is best for those who want to invest in less popular altcoins.
Bitstamp – Famous in Europe
Bitstamp was founded in 2011, and it quickly became one of the best European cryptocurrency exchanges. Even though it’s Europe-based, it has users from all parts of the world. It’s popular with experienced and less experienced users who prefer more established coins. Users can purchase crypto with fiat.
Bitstamp offers low fees and is suitable for larger transactions. Even though it suffered one of the biggest hacks in the industry, it’s still safe to use today. The hack was a consequence of a phishing attack, and Bitstamp didn’t suffer technological failure.
Kraken – Provides a Staking Option
This is one of the oldest exchanges on the market. It was founded in 2011. Today it allows users to purchase cryptocurrencies with USD, CAD, EUR, and GBP. At the moment, there are over 50 cryptocurrencies available for trading and holding.
Kraken also offers staking, meaning that users can receive rewards for certain coins they have in their wallets. Kraken has never been hacked. It provides multiple levels of security for its users, like Google 2FA for trading and funding and a Master Key.
Cex.io – Good for Beginners
Cex.io accepts multiple deposit options and supports various digital assets. It was founded in 2013. Initially, it was a mining provider that owned the GHash.io mining pool. Cex.io stopped providing cloud mining services in 2015 and started operating as an exchange.
It’s suitable for both beginners and advanced users. When it comes to safety, Cex.io provides users with a level two DSS certificate. This means it has a certain level of security to store, process, and transmit payment data.
Poloniex – High Level of Security
Even though it’s not as popular today as it was before, Poloniex still provides quality service. It has the lowest fees on the market, and identity verification is entirely optional. Since it moved its operation to Seychelles, it allowed for fiat deposits via credit and debit cards.
Poloniex supports over 60 trading pairs. Poloniex had no recent security breaches, and it’s known to have high protection against DDoS and web attacks. Users are utilizing cold wallets, and there are many more additional safety features, according to Cryptonews.
eToro – Good for Trading CFDs
eToro was founded in 2007. At first, it was a low-risk broker for trading forex and contracts for differences (CFDs). Today, it’s authorized by two tier-1 regulators, one tier-2 regulator, and one tier-3 regulator, which gives it a high trust score of 93.
This exchange is suitable for casual investors. Cryptocurrency trading is available through CFDs. It has a user-friendly platform and a great mobile app. However, it’s a bit pricier than its competitors. Since it’s a multi-asset platform, eToro goes above and beyond to provide a seamless trading experience for its users.
Gemini – Powerful Tools for Experienced Users
Gemini was founded in 2014 and is the creation of the famous Winklevoss brothers. Today, Gemini is among the top 15 cryptocurrency exchanges by trading volume. It’s available in all 50 US states and more than 50 countries worldwide.
It’s suitable for new crypto investors since it offers a simple user interface. More experienced traders also love its Active Trader platform. Gemini provides its users with site insurance of their digital assets in case of a breach.
Coinmama – Allows for Direct Bitcoin Purchase
Coinmama is for people looking to buy Bitcoin quickly and easily. This exchange was founded in 2013, and today it operates in 188 countries and has over two million customers. It’s registered in Slovakia and has headquarters in Israel. It allows for a direct crypto purchase and multiple deposit methods.
At the moment, it supports 10 cryptocurrencies. It’s user-friendly, and users can purchase fractions of Bitcoin. Even though fees are relatively high, Coinmama users are the only owners of their private keys. This reduces the risk of hacking.
Final Notes
Traders and cryptocurrency investors need to know that they can lose their funds. While holding crypto in a private wallet is safer than storing it on the exchange, sometimes people want to trade or sell their holdings faster.
Some of the best cryptocurrency exchanges, like Coinbase, Cex.io, Kraken, and Poloniex, are continuously working on enhancing their security and providing the ultimate user experience. Even though hackers are becoming more difficult to handle, these exchanges and many others create a safe environment for new and experienced cryptocurrency investors and traders.
