Understanding which are the most secure exchanges is an essential element for those who want to invest or trade in virtual currencies, considering that a staggering one billion dollars have been stolen by hackers.
To help us choose the most secure exchanges, ICORating has created a report in which the security of 100 exchanges has been evaluated.
The key factors for this report have been:
- Errors in the user interface, i.e. the presence of unreported errors in the UI that can be exploited by hackers;
- User account security, i.e. the complexity and length of the password required;
- Email and two-factor authentication;
- Security in the registration of the domain and in the registration body, relevant factors because they prevent violations that can guide users to malicious websites;
- Security in web protocols, such as the application of HTST, CPS, etc…
Of course, different grades were given for each factor, depending on the importance of creating a secure exchange environment. For example, while only 5 points were assigned to console errors, 18 points were given to the security of the user account, 34 to registry issues and 43 to the application of security protocols, for a total of 100 points.
These points were then assigned to the exchanges according to the different implementation of the security measures, obtaining a ranking that goes from the highest score, 89, to the lowest, 15.
In this ranking, the most secure exchanges were: Coinbase Pro, Kraken, BitMEX and Gopax.
While the least secure would have been Allcoin and Okcoin.cn.