Overview:
In this article, we will take a look at the popular cryptocurrency exchanges that have never experienced a major hacking incident. The list included exchanges that have never been breached till December 2021.
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Cryptocurrency Exchanges That Have Not Been Hacked
Cryptocurrencies have gained immense popularity in the past couple of years and have attracted multiple types of investors from across the world. As the market is growing rapidly, the number of cryptocurrency exchanges is also increasing and there are hundreds of exchange platforms that are active today.
With the acceleration in growth, the crypto space has attracted the attention of hackers as well and the number of hacking incidents is also increasing at a similar pace. There are plenty of major cryptocurrency exchanges out there that have had some sort of security breach in the past. While some of these exchanges were lucky to not lose much in these breaches other suffered millions in losses.
In this blog, we will take a look at some of the most popular cryptocurrency exchanges that have never been hacked in the past. Let’s take a look:
Bybit
Bybit is one of the fastest-growing cryptocurrency exchanges out there and has gained a lot of popularity in the past 12 months alone. It is currently among the top ten cryptocurrency exchanges in the world in terms of trading volume and has over 3 million registered users.
The exchange also offers a wide variety of cryptocurrency products from spot trading to perpetual contracts. Unlike many big names out there Bybit has never been hacked in the past and is also trusted by many users for its reliable security
ByBit exchange has a clean and user-friendly interface that offers a smooth trading experience. It also presents real-time data in front of its users which is always good to see in a crypto exchange. Bybit is also among rare exchanges that have an uptime of 99.9%. It is quite impressive considering the volatile nature of crypto markets.
It is also one of the cheapest crypto exchanges out there as it charges 0% for market makers and 0.1% for the takers. It also offers a rebate of –0.025% to market makers when it comes to leverage trading.
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Phemex
Phemex is another popular cryptocurrency exchange that has never experienced any major hacks. Established in November 2019, in Singapore, Phemex has gained a lot of popularity for its spot and derivatives services and has attracted over 2 million users from across the globe.
The exchange hosts a decent amount of trading volume for Bitcoin and other major altcoins on daily basis and also has quite a user-friendly interface. The exchange is also popular for offering Gold/USD trading pairs which give crypto traders excess to a different market in times of high volatility.
Just like Bybit, Phemex was also offering derivatives only and did not have a spot trading market until the May of 2020. Expanding their service range is also what helped the exchange improve its popularity in no time.
Phemex exchange is also among the cheapest cryptocurrency exchanges out there and is quite transparent with its fees. It charges a fee of 0.075% for market takers and offers a -0.025% rebate to the market makers. It also offers several sign-up bonuses which makes it an excellent choice for new crypto traders.
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PrimeXBT
PrimeXBT is another exchange that has never disappointed its customers in terms of security. It offers users access to multiple markets, including cryptocurrencies, Forex, stocks, and commodities.
The exchange is easy to navigate and is a great choice for beginners. Not only the exchange offers regular crypto trading services, but it has some unique features as well.
One of the main highlights of PrimeXBT covesting is its copy trading feature that allows users to mimic trades of their favorite crypto traders without breaking a sweat. Users can choose a popular trader of their own choice on PrimeXBT and can start copying their trades.
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Gemini
Another popular exchange that has never been breached by hackers is Gemini. It is a US based cryptocurrency trading platform that is highly trusted by its users. It is a platform that not only has a perfect security record but also has its digital assets insured against losses. That means even if the exchange were to ever experience any cyber-attacks, they will be able to compensate users with this fund.
Gemini is a platform that is designed for both new and expert traders. It offers a couple of different interfaces and one can switch between them depending on their trading experience.
The major drawback with Gemini exchange is that unlike the other mentioned platforms in this list, the exchange is quite expensive. It charges different fees for depositing and withdrawing assets and the spot trading fees are also around 0.35%.
However, it is still an excellent exchange for U.S based users who prioritize security over fees.
Conclusion:
There are plenty of cryptocurrency exchanges out there that have never been hacked in the past but that does not necessarily make them better than other cryptocurrency exchanges. Platforms like Binance may have experienced breaches in the past but they have also grown stronger since then and have only tightened their security. One must always choose a crypto platform after performing thorough research.
