Security Practices of Crypto Exchanges

Its a big thing trusting somebody with your money. Therefore, you have to have a deep check before investing or putting your money somewhere.

This applies to the crypto exchanges as well because you don't want to end with no crypto assets in your hand.

Its important to keep a check on the security practices different crypto exchanges have.

It's fair to say that crypto exchanges which has been there for years with a big number of users are considered to be secured but again it also have some exceptions.

BitMart which is a well known exchange which still got hacked. No platform is 100% secure but its a common sense that no one should be investing a big amount of their funds into exchanges that have a history of cyber attacks.

Talking about the scam crypto exchanges, they don't even use basic protections like 2FA, while other exchanges which care about its users typically use multiple layers of protection. It could be facial identification, bio-metric login, or government issued identifications upon opening opening a new account.

Some exchanges even want authentication when users buy or sell cryptos.

It's safe to say that non custodial exchange services look safer and way more reliable compared to these centralized custodial exchanges.

The good thing about these non custodial crypto exchanges is that they don't require you to sign up and give users a full control over their assets.

As long as you have a secured your keys somewhere safe, you don't need to worry about hacks, government sanctions etc.

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