The Changing Face of Crypto Security: Why Trust Matters More Than Ever

The crypto space in 2024 has been rollercoaster. We have seen Bitcoin cross the $100,000 mark, a market wide bull run and even politicians like Donald Trump talking about creating a strategic Bitcoin reserve for the U.S. It finally feels like crypto is breaking into the mainstream in a way we have all been waiting for.

But with all this growth, there's been a darker side too. According to Chainalysis, over $2.2 billion was lost to hackers in 2024 alone, a 21 percent jump from the previous year. Every week, it seems like there is another story about an exchange getting hacked or a project turning out to be a scam. It’s a harsh reminder that while crypto is evolving, so are the bad actors looking to take advantage of it.

This is why picking the right exchange has never been more important. It’s easy to get caught up in hype, but when your money is on the line, security and trust should come first.

What Forbes Crypto Exchange Rankings Tell Us

Forbes recently put out a list of the 25 most trustworthy exchanges, ranking them based on regulation, transparency, security and financial strength. Some of the names on the list were predictable. Binance, Bitget, coinbase and Bitstamp all made the top 10. These are massive platforms with millions of users, so seeing them ranked highly isn’t surprising.

I remember when I first started trading, I didn’t think too much about security. I just wanted to find an exchange that was easy to use and had the tokens I was interested in. But after seeing so many scams and hacks over the years, I have learned that where you trade is just as important as what you trade. Exchanges that prioritize security, proof of reserves and regulatory compliance are the ones that will last, and they are the ones worth paying attention to.