The crypto industry has been growing by leaps and bounds over the past several years, which has partially been fueled by an influx of new traders to the markets, lured by the massive volatility incurred by Bitcoin and other digital assets on a frequent basis.
In order to serve these active investors, the markets have been met with a deluge of trading platforms all vying for the support of Bitcoin and crypto traders, but it can be difficult to cut through the noise and determine which platform is the best.
There are three key factors that should be considered when determining which platform to patronize, with some exchanges offering significantly better features than others.
Factor 1: Privacy and Security
Just a few months ago, users on popular cryptocurrency exchange Binance had a significant amount of their private data leaked after photos and information related to users’ KYC proceedings were released on a Telegram group.
This data leak is said to have impacted 60,000 customers who signed up for accounts and underwent the KYC proceedings in 2018 and 2019 and appears to be directly linked to the Binance hack that occurred last May.
This data contained deeply personal information, including self-photographs, names, and more, and put the privacy and security of all these customers in grave jeopardy.
One of the only major margin trading platforms available to investors that places an extreme emphasis on its clients’ privacy is PrimeXBT, which allows traders to use up to 100x leverage on Bitcoin and other assets.
This platform also allows users to set up fully anonymous trading accounts without having to surrender any private information or take place in KYC proceedings – which can expose a significant amount of extremely private data, as seen in the aforementioned Binance data leak.
PrimeXBT also utilizes industry-leading security features in order to protect its users from potential threats, employing a multi-tiered security system and storing the bulk of its clients’ digital assets in cold storage.
