Coinbase Advanced Is the Pinnacle of Trust and Security for Those Trading Cryptocurrency – Here’s Why

Coinbase, the world’s most trusted exchange, has proven itself to be the pinnacle of trust and security to those trading cryptocurrency for over a decade.

With a mission to increase economic freedom and be a leading brand to convert people to digital currency, Coinbase prides itself on having the best security practices in the industry – keeping its customer’s assets safe.

Its new Coinbase Advanced platform provides its users with all of the powerful tools advanced traders love and the security they deserve.

Here’s everything you need to know about why Coinbase Advanced continues to be the exchange of choice for most of the crypto world.

Coinbase Advanced Bringing Powerful Analytical Tools to Coinbase Retail Traders

Coinbase Advanced is quickly becoming the platform of choice for sophisticated traders globally due to its establishment as the most trustworthy and powerful trading platform.

The product combines powerful analytical tools with the safety and security of Coinbase – helping it deliver the ultimate trading experience.

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Alongside providing competitive fees, Coinbase Advanced incorporates sophisticated charting capabilities, real-time order books, and deep liquidity across 552 markets.

Furthermore, the Coinbase Advanced features introduced derivative capabilities for both U.S. and non-US-based customers.

As a result, traders are quickly switching to the newly launched Coinbase Advanced product as they believe it can elevate their trading potential while being protected through the state-of-the-art security practices delivered by Coinbase.

Security Held to Highest Standards for Coinbase Advanced

Coinbase officially became the largest U.S. public crypto company in April 2021.

As a result, the exchange goes above and beyond to act transparently, with its primary focus on keeping its customers’ assets safe.

The exchange operates with more financial transparency than every other exchange, publishing financial statements quarterly and being audited by an independent third party – as required by law.

The exchange has been the most trusted place for people and businesses to trade and manage crypto. It has proven its commitment to maintaining that trust by enhancing its security practices.

Following is a quick summary of the security practices that Coinbase utilizes to maintain the trust and security of its customers.

One of the most critical aspects of an exchange is knowing your funds are kept safe and aren’t being lent out for external operations.

Coinbase is committed to keeping assets safe and holds them on a 1:1 ratio. That means it doesn’t lend or take any action with your assets without your explicit permission.

As a result, the chances of the exchange having missing assets is effectively zero – so you’ll always know you can withdraw your funds at any time.

In addition, customers can obtain peace of mind by knowing Coinbase uses the most secure and multifaceted risk management programs to protect customer’s assets.

State-of-the-Art Encryption

Coinbase also employs state-of-the-art encryption to ensure the assets you deposit are stored with the highest security standards.

The exchange was built with industry-leading security and encryption at its core, and the security team is constantly working to ensure assets are safe from emerging threats.

In addition, the vast majority of the crypto assets are stored offline in secure, guarded cold storage facilities.

Tools to Protect Accounts

Adding further to the security are the tools Coinbase provides its customers to protect accounts.

For example, all accounts are automatically enrolled into Two-Factor Authentication with passport protection features. The exchange also integrates address whitelisting, meaning your funds can be withdrawn to a list of addresses you approve.

Furthermore, the exchange monitors third-party data breaches and darknet markets for threat indicators – hunting the areas where hackers typically call home. If it looks like your account might be at risk, Coinbase will automatically secure your login credentials for you.

Coinbase also stores its passwords using the bcrypt algorithm with a strong work factor so that nobody can read or decrypt them, even if they somehow manage to access the secure database.

Real-Time Support and Security Resource Section

Coinbase has real-time support customer service to tie things together, so you can always talk to the exchange during working hours if you have any questions.

The exchange also maintains a comprehensive catalog of security resource articles to keep you well-informed on how to keep your account secure.

Overall, Coinbase continues leading the way as it stands at the pinnacle of security and trust – making it the number one exchange for advanced crypto traders.

 

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Alan Draper

Alan is the Editor-in-Chief of Techopedia and is responsible for ensuring all the content is accurate, up to date, and relevant. Alan has previously worked in writing and editorial capacities for several leading websites, such as Business2Community and TechReport.