Let’s begin to evaluate some of the critical factors that the safest exchange should accomplish. For doing that, we should first understand the risks out there. With the existing digitalization of the entire planet, no one was amazed when virtual currencies began to appear. No one wants to lose their money, and therefore here is what you need to seek on your hunt to discover the safest exchange.
Losing access
There is no benefit of having plenty of money in your bank account if you restricted from accessing it. A lot of people have experienced the same thing with the fall and rise of several exchanges. People believe in exchanges as they believe in a bank. But the main difference is that banks are control by various authorities and supported mainly by insurances, whereas exchanges are small offshore firms in an unregulated atmosphere. That is not a bad thing but a direct result of the technology being superior to the law covers.
It is possible to lose the money you keeps in exchange, mainly if the exchange is down for maintenance, gets a warrant against some accounts, or gets hack. In any such case, you will not be able to withdraw your money. Thus, the safest exchange should assure immediate access to all your money. Also, they should convince you to have your private keys.
Fraud
It’s quite simple to make a false website providing fantastic conditions with an assured return on investment. Anybody come and make a website in no time, and give it a feel and look of an actual exchange and con people. Hence, the safest exchange should possess a community that verifies that it’s working.
Summary
In conclusion, the safest exchange should be fast and quick and have no authority over your funds, don’t put your money at risk if an attack occurs, and should hold active support or community. If you can easily connect with the support team and respond immediately, it’s best to ensure that you will get quick assistance whenever a problem occurs.
