Crypto Exchange List: Ranked by Cyber Security Score

Bybit is currently one of the top three crypto derivatives exchanges, with over 100,000 users and multilingual support (English, Chinese, Traditional Chinese, Korean, and Japanese). Unlike other margin trading exchanges, Bybit has a simple design, but it has all the features that can allow traders to have a more advanced trading experience. Since its matching engine can handle 100,000 TPS, you do not have to worry about overload, and it has low latency (1 ms).

Bybit offers two kinds of contracts: USDT perpetual contracts, and perpetual inverse contracts. The margin used on the USDT perpetual contract is USDT, and it is a linear contract. Trading in BTCUSDT is recommended for beginners.

Continue Reading at Top 5 Exchanges to Trade Crypto Derivatives

We have mentioned that not all crypto exchanges are safe for credit card transactions. Some may look to exploit their users and run away with their money. Not to mention that your credit card information is also at risk.

While credit cards typically have strong fraud protection compared to other card types, every cardholder must still be aware and able to spot scams. Even at a trusted exchange like Binance, users must complete their due diligence before making any transactions with credit cards.

Continue Reading at The Complete Guide to Buy Crypto with Credit Cards on Binance

When it comes to security, there are several things that you could focus on, such as:

• HTTPS: Every secure exchange must have a valid HTTPS certificate This shows that the site is safe, and they won't be able to collect or change your data without your permission.
• Two-Factor Authentication (2FA):  Most exchanges offer a variety of 2FA methods, such as software, SMS, and hardware devices. The most common option is to use Google Authenticator.
• Strong Password: You might be asked to fulfill certain criteria, such as a mix of regular and capital letters, numbers, symbols, etc.
• Funds Insurance:  This is certainly a great safety net for traders, but please note that such policies do not protect individual accounts and only apply to the exchange as a whole.
• Cold Storage: Funds that are stored in cold storage are much more difficult to steal compared to those that are kept in a hot wallet.
• Ability to Whitelist IP and withdrawal Addresses:  This enables blocking suspicious logins from other locations.
• Extra measures: Exchanges can offer many other security measures, such as multi-signatures, suspicious behavior notifications, phishing protection, and more.

Continue Reading at Don't Leave Your Money in Crypto Exchanges, Here's Why

The key differences between Proof of Reserves and Exchange Balance are as follows:

• Data source: Proof of Reserves uses a static data set publicly disclosed by the exchange. Exchange Balance uses a dynamic set of data acquired from various sources, including public data, clustering algorithms, and exchange-specific heuristics.
• Comprehensiveness: Exchange Balance is more comprehensive than Proof of Reserves, as it includes a wider range of addresses. Proof of Reserves only includes the addresses specifically disclosed by the exchange.
• Transparency: Proof of Reserves is more transparent than Exchange Balance, as it is based on publicly disclosed data. Exchange Balance is less transparent, as it relies on various data sources, some of which may not be publicly available.

Continue Reading at Proof of Reserves: Why is It Crucial after the FTX Fallout?