Market information aggregator CryptoCompare has named Coinbase essentially the most clear and accountable crypto change on the earth, per the agency’s latest report that ranked 150 buying and selling platforms.
In response to CryptoCompare’s researchers, the Brian Armstrong-led change is intently adopted by crypto platforms comparable to Gemini, Binance, and Bitstamp.
/1 Immediately, 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.
Learn the total report beneath: https://t.co/j5eFvqNzL1
— CryptoCompare (@CryptoCompare) April 11, 2022
Notably, solely these 4 exchanges obtained the AA ranking, which suggests they’re the least dangerous crypto buying and selling platforms to make use of. Additional down the checklist, 11 extra exchanges have obtained A scores, 27 acquired BB scores, and 37 have been ranked as B.
The 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.
On the similar time, the entire variety of top-tier exchanges has dropped over the previous months, the researchers famous, including:
“Because of stricter benchmark requirements, solely 78 exchanges met the edge for Prime-Tier standing within the newest Alternate Benchmark (vs 87 in August 2021 and 84 in February 2021). In the meantime, 15 exchanges have met AA-A standing in comparison with 9 in August 2021.”
Regulatory curiosity helps the sector develop
As CryptoSlate reported, regulators world wide have been paying more and more extra consideration to the crypto trade recently attributable to sector’s great development over the previous 12 months. In flip, this has led to a rise in scrutiny from numerous authorities which might be nonetheless cautious of the trade.
In the end, CryptoCompare inferred that exchanges reacted positively to this heightened consideration as lots of them have been “sharpening their processes in the case of safety, regulatory danger, and KYC insurance policies.”
In response to the report, 99% of the surveyed exchanges at present implement two-factor authentication methods, aiming to assist customers higher shield their funds. Other than that, extra crypto platforms now “possess change or MSB licenses.”
Nonetheless, CryptoCompare has concluded that crypto buying and selling platforms nonetheless should brace for extra political affect because the trade goes mainstream, citing some cases the place blockchain companies have been pressured to shut accounts belonging to Russian residents amid the nation’s battle with Ukraine.