Market information aggregator CryptoExamine has named Coinbase probably the most clear and accountable crypto change on this planet, per the agency’s newest report that ranked 150 buying and selling platforms.
According to CryptoExamine’s researchers, the Brian Armstrong-led change is carefully adopted by crypto platforms equivalent to Gemini, Binance, and Bitstamp.
/1 Today, we’re delighted to launch our #ExchangeBenchmark report.
This bi-annual report combines over 80 quantitative and qualitative metrics to assign a grade (AA-F) to over 150 energetic spot #crypto exchanges.
Read the complete report beneath: https://t.co/j5eFvqNzL1
— CryptoExamine (@CryptoExamine) April 11, 2022
Notably, solely these 4 exchanges obtained the AA ranking, which implies they’re the least dangerous crypto buying and selling platforms to make use of. Further down the record, 11 extra exchanges have obtained A rankings, 27 acquired BB rankings, and 37 have been ranked as B.
Source: CryptoExamineThe report went on to disclose that the highest 4 exchanges aren’t solely the most secure however are additionally accountable for almost all of transactions inside the sector. These platforms accounted for round 96% of all crypto trades that have been made between September 2021 and February 2022, the researchers identified.
At the identical time, the whole variety of top-tier exchanges has dropped over the previous months, the researchers famous, including:
“Due to stricter benchmark requirements, solely 78 exchanges met the brink for Top-Tier standing within the newest Exchange Benchmark (vs 87 in August 2021 and 84 in February 2021). Meanwhile, 15 exchanges have met AA-A standing in comparison with 9 in August 2021.”
Regulatory curiosity helps the sector growAs Cryptonomie reported, regulators all over the world have been paying more and more extra consideration to the crypto trade recently as a result of sector’s large development over the previous yr. In flip, this has led to a rise in scrutiny from varied authorities which are nonetheless cautious of the trade.
Ultimately, CryptoExamine inferred that exchanges reacted positively to this heightened consideration as lots of them have been “sharpening their processes with regards to safety, regulatory threat, and KYC insurance policies.”
According to the report, 99% of the surveyed exchanges presently implement two-factor authentication programs, aiming to assist customers higher defend their funds. Apart from that, extra crypto platforms now “possess change or MSB licenses.”
Nonetheless, CryptoExamine has concluded that crypto buying and selling platforms nonetheless should brace for extra political influence because the trade goes mainstream, citing some situations the place blockchain corporations have been pressured to shut accounts belonging to Russian residents amid the nation’s battle with Ukraine.
Oluwapelumi Adejumo Journalist at CryptonomieOluwapelumi is a believer within the transformative energy Bitcoin and the blockchain trade holds.
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