Market information aggregator CryptoCompare has named Coinbase essentially the most clear and accountable crypto alternate on the earth, per the agency’s latest report that ranked 150 buying and selling platforms.
In line with CryptoCompare’s researchers, the Brian Armstrong-led alternate is intently adopted by crypto platforms resembling Gemini, Binance, and Bitstamp.
/1 In the present day, 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 complete 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 listing, 11 extra exchanges have obtained A scores, 27 received 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 throughout the sector. These platforms accounted for round 96% of all crypto trades that had been made between September 2021 and February 2022, the researchers identified.
On the identical time, the entire variety of top-tier exchanges has dropped over the previous months, the researchers famous, including:
“Resulting from stricter benchmark requirements, solely 78 exchanges met the edge for High-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 business currently as a result of sector’s great development over the previous yr. In flip, this has led to a rise in scrutiny from numerous authorities which are nonetheless cautious of the business.
Finally, CryptoCompare inferred that exchanges reacted positively to this heightened consideration as a lot of them have been “sharpening their processes in the case of safety, regulatory threat, and KYC insurance policies.”
In line with the report, 99% of the surveyed exchanges at the moment implement two-factor authentication methods, aiming to assist customers higher shield their funds. Aside from that, extra crypto platforms now “possess alternate or MSB licenses.”
Nonetheless, CryptoCompare has concluded that crypto buying and selling platforms nonetheless need to brace for extra political impression because the business goes mainstream, citing some situations the place blockchain corporations had been pressured to shut accounts belonging to Russian residents amid the nation’s battle with Ukraine.