Before depositing real funds on any exchange, a quick security check can save a lot of regret later.
Track record – Has it been hacked before, and how did it handle it (made users whole, or not)?
Proof of reserves – Does the exchange publish audited proof that it actually holds the funds it claims?
Regulatory status – Is it licensed/regulated in a recognizable jurisdiction, or operating in a legal gray area?
2FA and withdrawal whitelisting – Does it support (and encourage) strong account security features?
Insurance fund – Some exchanges maintain a fund specifically to cover user losses from a breach.
What's your personal dealbreaker when evaluating a new exchange?
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