Kraken is the safest crypto exchange, cryptocurrency held there is the cheapest to insure

2018-11-8 12:23

Prominent cybersecurity firm Group-IB has graded the security of top crypto exchanges, TheNextWeb reported November 6.

According to research conducted by the Moscow-based firm in partnership with crypto asset insurance platform CryptoIns, the Kraken platform is the safest crypto exchange. In contrast, OKEx, as well as Huobi Pro and CoinCheck are the riskiest crypto trading spots.

Group-IB made its determinations with a newly developed assessment system that calculates insurance premiums to cover cryptocurrencies held by major exchanges.

CryptoIns, which is supported by Swiss insurance broker ASPIS S, is now offering its insurance services to dozens of major crypto exchanges. The new insurance policy purportedly covers losses from “cyber-attacks on exchange software, theft, fraud and illegal actions of crypto exchange personnel.”

The risk assessment for crypto exchanges takes into account factors such as technical security levels, the reliability of basic storage, passwords, as well as clients’ personal data. The framework also considers risk management, as well as Know Your Customer (KYC) and Anti-Money Laundering (AML) policies.

Group-IB and CryptoIns have not released the precise metrics used when determining the security of an exchange, reportedly in the interests of maintaining confidentiality.

Cryptocurrency held on Kraken is the cheapest to insure

The insurance framework sorts cryptocurrency exchanges into four groups, in order of risk. Group-IB deemed exchanges in the first group to be the most secure, while considering the fourth group to be completely uninsurable.

The base insurance rate is 2.5% per quarter, with a discount applied depending on the group (with a maximum of 50% discount).

The only cryptocurrency exchange Group-IB deemed worthy of the most secure category is the long-serving Kraken.

“According to our estimates, Kraken is the most secure exchange, with 1.25% insurance rate,” – Group-IB told Hard Fork.

The second group includes Bittrex and Coinbase Pro, with cryptocurrency kept on these exchanges demanding a 1.5% insurance premium for protection.

Digital assets on cryptocurrency exchanges Binance, Bitfinex, Bithumb, Bitmex, Localbitcoins, and Poloniex were all assigned premiums of 1.9%.

The least secure cryptocurrency exchange Group-IB analyzed was Yobit, which was removed from the list altogether just before going public with its insurance framework. Other excluded exchanges include Zaif, Bitstamp, TopBTC, and Bit-Z.

The maximum amount of cryptocurrency users are able to be insure is the equivalent of 15 BTC, with premiums payable in up to 100 different coins.

CryptoIns says it will issue insurance payouts in Bitcoin. Full-year coverage is also available, with the base premium costs increasing proportionally with the period of the coverage.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0069451 (-100%)

crypto kraken firm safest exchange platform cryptoins

crypto kraken → Результатов: 48


Kraken Obtains License from the UK’s Finance Regulator, Focuses on Design with New Hire as Masses Join Crypto

Cryptocurrency exchange Kraken’s wholly-owned subsidiary Crypto Facilities has obtained an MLR license from the UK Finance regulator, the Financial Conduct Authority (FCA). This means the company is now compliant with money laundering regulations in the country and that it is following the same standards as required by FCA from the banks.

2021-11-16 18:18


Kraken exchange lists BAT and WAVES token for trading

Given the need to build differentiators in order to survive the market, crypto businesses have taken the “collaboration” approach to the next level. While ecosystems such as Cardano and Ripple are making headlines for hiring some of the most influential players across the fintech landscape, crypto exchanges are racing to list the most innovative and […] The post Kraken exchange lists BAT and WAVES token for trading appeared first on AMBCrypto.

2019-8-21 17:25


Kraken Acquires Crypto Derivatives Platform, Crypto Facilities, in a 9 Figure Deal

In one of the most strategic moves of 2019, the exchange known as Kraken has acquired the U.K based Crypto Facilities crypto trading platform and index provider. Kraken, based in San Francisco, combined with the reach Crypto Facililities has in Europe, creates a combination that will create a global leader in cryptocurrency spot and futures […] The post Kraken Acquires Crypto Derivatives Platform, Crypto Facilities, in a 9 Figure Deal appeared first on Ethereum World News.

2019-2-5 21:17


Биржа Kraken приобрела Crypto Facilities, британскую платформу криптовалютных деривативов

Американская криптовалютная биржа Kraken объявила о приобретении британской торговой платформы криптовалютных деривативами Crypto Facilities, которая предоставляет фьючерсы на биткоин, лайткоин, эфир, Bitcoin Cash и XRP, а также предоставляет данные для индекса биткоин-фьючерсов Чикагской товарной биржи.

2019-2-4 20:41


Фото:

Kraken Crypto Trade, Community Impact Bloomberg Article on Tie ‘Red Flags’

Major crypto exchange Kraken has issued a scathing response to a recent Bloomberg article about stable cryptocurrency Tether (USDT) allegedly “defying logic” on Kraken’s platform. The article in question, titled “Crypto coin Tether defies logic on Kraken’s market, raising red flags,” was published on Bloomberg June 29, with comments and analysis from several academics and

2018-7-3 22:16


Фото:

Bloomberg Wakes Kraken: Good Fails To Come Of This

Just when you thought the ongoing tit-for-no-tat between the business media and the crypto pages couldn’t get any more entertaining, one of the smaller exchanges has returned fire. Kraken, which was accused by Bloomberg last week of rigging the Tether game, shot back with a blog post that unmasked the technical incompetence that is characteristic of many […] The post Bloomberg Wakes Kraken: Good Fails To Come Of This appeared first on Crypto Briefing.

2018-7-3 00:58