BrokerChooser made a security rating of cryptocurrency exchanges

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Analytical company BrokerChooser has assessed the investment security of platforms for trading digital assets and presented a rating that includes the twenty largest cryptocurrency exchanges.

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The ranking was based on factors such as “regulation, consumer protection, fairness and transparency”. According to report BrokerChooser, the first place with a score of 4.1 out of 5 was taken by the American crypto exchange Coinbase, which outperformed its competitors in most categories.

In second place with a score of 4.0 was FTX US Derivatives, an options and futures market owned by FTX.US. Note that FTX.US itself took seventh place.

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British-Luxembourg platform Bitstamp came in third with a score of 3.8. The study notes that the exchange has not experienced any regulatory issues over the past five years. Bittrex and Gemini round out the top 5 safest exchanges with a score of 3.7.

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Among other popular exchanges, Crypto.com ranked eighth and Binance.US ranked ninth. The Binance platform itself took 15th place, and KuCoin – 18th. In terms of regulation, FTX US Derivatives, Gemini, and Kraken Futures scored the highest, while KuCoin and ByBit ranked last with a score of 1.0.

In the consumer protection category, Gemini took the lead, while OKX came in last. Coinbase ranked first in transparency with a score of 4.8, while half a dozen exchanges scored just 1.0, including Binance, OKX, KuCoin, Gate.io, Bybit, and Phemex.

Recall that in 2021, shareholders filed a class action lawsuit against Coinbase, accusing it of providing false information about the financial position when placing shares on the Nasdaq stock exchange.

Source: Bits

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