When safeguarding your crypto investments, you want to ensure that you’re dealing with a reputable and reliable exchange. Unfortunately, not all exchanges are created equal when it comes to insurance. Here is a list of 5 insured crypto exchanges you can use to protect your investments.
Top 5 insured crypto exchanges:
Are any crypto exchanges insured? The answer to this question is yes; in the market today, a handful of insured exchanges exist. Here they are:
1. Coinbase:
It is one of the leading crypto exchanges in the US and is insured by the FDIC for up to $250,000 per customer. If we talk about the features, it supports Bitcoin, Ethereum, and Litecoin. It is one of the most popular exchanges and has a very user-friendly interface. However, it is not available worldwide. Besides this, it also has a mobile app for Android and iOS users.
2. Gemini:
It is a US-based exchange and is insured by the FDIC. It allows users to trade in Bitcoin, Ethereum, and Zcash. Gemini is known for its strict KYC/AML policies. In addition, it has a very user-friendly interface and is available in most countries. So, if you’re looking for a reliable and insured exchange, Gemini could be a good option. However, it should be noted that Gemini charges relatively high fees.
3. Kraken:
It is one of the few exchanges that offer insurance for digital assets. The company has a $100 million insurance policy with Lloyd’s of London to cover the loss of funds due to hacking or theft. Kraken is also a partner of the Crypto Facilities exchange, which the UK’s Financial Conduct Authority regulates. Besides this, the company has a strict security protocol that includes 2-factor authentication and PGP/GPG encryption. However, it should be noted that Kraken has been hacked in the past, so it is not 100% secure.
4. Coinbase:
Coinbase is insured against theft or loss of digital assets through its insurance policy as one of the largest and most popular exchanges in operation. The exchange is also a member of the Blockchain Alliance, which helps to protect users against fraud and theft. In addition, Coinbase has implemented multiple layers of security, including 2-factor authentication and a host of other measures. However, it is worth noting that not all assets on Coinbase are insured, so be sure to check before you trade.
5. Binance:
The company insures its user’s funds against loss or theft with a $10 million insurance policy. In addition, Binance has implemented several security measures to protect its users’ funds, including two-factor authentication and a host of anti-phishing and anti-malware tools. Besides this, Binance offers several other features, such as a mobile app, a desktop trading platform, and margin trading.
Conclusion:
These are five of the market’s most reliable and insured crypto exchanges today. However, it is essential to remember that no exchange is 100% secure and that you should always take measures to protect your funds, such as keeping them in a secure wallet and using 2-factor authentication. In addition, it is essential to remember that insurance does not cover all assets on an exchange and that you should check with the exchange before trading.