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Safest Crypto Exchanges

We've tested over 50 apps to find the best platforms. Read our reviews to find the best crypto exchanges in 2022.

Updated September 2022   |  Affiliate Disclosure

While there are many "safe" crypto exchanges, we rounded up the industry leaders in this list. Various factors were considered such as reputation, features, regulatory status, cold storage practices, insurance, how long they've been operating, hacks, and more.

Although some platforms are better at communicating their security practices than others, we attempted to take a data-driven approach to the process. Now, here are the safest crypto exchanges in 2022:

Coinbase

Coinbase

170+

Coins

Varies

Trading Fee

2012

Founded

Coinbase tops the list because it has dozens of U.S. licenses and is compliant in 100+ countries. Coinbase is a household name in the crypto world with 103M+ users and has a track record since 2012. It's also a publicly traded company (COIN) on the NASDAQ which means regular audits and transparent financials. It has all the user security features as well. In your account you can setup 2FA, address whitelisting, set up trusted devices, and more.

Coinbase is easily one of the safest platforms in the world. On the downside, it's also one of the most expensive which is something to consider as well. Read our full Coinbase review here.

  • Publicly traded company
  • Founded in 2012 (longer track record than most exchanges)
  • Compliant in 100+ countries
  • $255M insurance policy on their cold storage assets
  • Known for high fees
  • One hack/incident in 2021 but luckily, not major

Binance

Binance

600+

Coins

0.10%

Trading Fee

2017

Founded

With 90M+ users and the highest trading volume in the world, Binance is one of the largest and most trusted crypto exchanges in the world. Binance has a SAFU insurance fund for users which had a $1 billion balance of Bitcoin at one point. This insurance fund takes a portion trading fees from the exchange and stores it in a wallet in case of a hack or emergency. In 2019, Binance had a hack for $40M but no users lost funds thanks to the SAFU fund.

According to an interview wth CZ, the founder, Binance is now the most regulated exchange in the world which may be a surprise to some. It now has regulatory approval in France, Australia, USA, and many other jurisdictions. On top of being safe, Binance is also one of the cheapest crypto exchanges in the world which is why it tops our list. Read our full Binance review.

  • Best combination of safety, low fees, and features
  • SAFU insurance fund in case of hacks or incidents
  • Largest exchange in the world by trading volume (has 90M+ users as well)
  • Getting regulatory approval in many countries
  • Overwhelming for beginners
  • Not available in all regions such as Ontario
  • Doesn't support all fiat currencies

Kraken

Kraken

150+

Coins

0.16% / 0.26%

Trading Fee

2011

Founded

Founded in 2011, Kraken is the oldest platform on this list. It's also the only one with a perfect track record and no hacks. 95% of crypto is held in cold storage and and they are compliant in all 100+ countries they operate in. Kraken is regarded as one of the safest platforms in the industry and their track record proves it. Read our full Kraken Review.

  • Founded in 2011 and has had 0 hacks
  • 95% of deposits held in cold storage
  • High priority 24/7 live chat
  • Compliant in every jurisdiction they operate in
  • Communicates their security practices well
  • Higher trading fees
  • Not the most coins or features

Methodology

Here is some of the data used to create these rankings. Compare 21 platforms across 200+ security-related data points:

Name

Year Founded

Uses Cold Storage?

Insurance Policy?

Any Hacks or Incidents?

2FA

2FA for Withdrawals

Address Whitelisting

View Login History

KYC?

Publicly Traded?

2018

Yes

Yes - 2021

Yes

Yes

Yes

Yes

Partial

No

2017

Yes

Yes - 2019

Yes

Yes

Yes

Yes

Yes

No

2012

Yes

Yes - 2016

Yes

Yes

Yes

Yes

Partial

No

2017

Yes

Uknown

Yes - 2021

Yes

Yes

No

Yes

Yes

No

2011

Yes

Yes - 2015

Yes

Yes

Yes

Yes

Yes

No

2014

Yes

No

Yes

Yes

Yes

Yes

Yes

No

2018

Yes

No

Yes

Yes

No

Yes

Partial

No

2012

Yes

Yes - 2021

Yes

Yes

Yes

Yes

Yes

Yes (COIN)

2012

Yes

-

-

-

-

-

-

Yes

Yes (COIN)

2017

Yes

No

Yes - 2020

Yes

Yes

No

Yes

Yes

No

2016

Yes

Yes - 2022

Yes

Yes

Yes

Yes

Yes

No

2007

Yes

Yes - 2020

Yes

?

?

?

Yes

No

2018

No Info

No

Yes

Yes

Yes

No

Yes

No

2013

Yes

Yes - 2014, 2015

Yes

Yes

Yes

Yes

Yes

No

2014

Yes

No

Yes

Yes

Yes

Yes

Yes

No

2013

Yes

No

Yes

Yes

Yes

Yes

Partial

Yes (1611.HK)

2011

Yes

No

Yes

Yes

Yes

Yes

Yes

No

2017

No Info

Yes - 2020

Yes

Yes

Yes

Yes

Partial

No

2017

Yes

No

Yes - 2020

Yes

Yes

No

Yes

Yes

No

2014

Yes

Yes - 2014

Yes

Yes

Yes

Yes

Partial

No

2013

Yes

No

Yes

Yes

No

No

Yes

No

What We Learned

After collecting all this info, we learned 13 out of 21 platforms have had a hack or incident (62%). 100% of platforms offer 2FA and 2 out of 21 are publicly traded entities (10%). Hacks are very common in this industry but most platforms have repaid their users or recovered the funds so no users actually lost any funds.

Summary

There are many safe crypto exchanges, but we believe these to be the industry leaders in 2022.


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