Coinbase is the least risky cryptocurrency exchange to trade on, according to a report

The findings show that the top four exchanges are not only the safest, but also handle a large number of transactions in the industry. According to the study, these platforms account for nearly 96 percent of all crypto transactions completed between September 2021 and February 2022.

Meanwhile, the total data experts say the number of top exchanges has decreased in recent months, adding.

"Only 78 exchanges meet the top tier criteria in the latest exchange benchmarks due to stricter benchmarking standards" (compare 87 in August 2021 to 84 in February 2021). Meanwhile, 15 exchanges received AA-A accreditation, up from nine in August 2021."

Regulatory interest is fueling the industry's growth.

In recent months, global regulators have taken an increasing interest in the crypto industry due to the industry's phenomenal expansion over the past year. As a result, some authorities who remain wary of the industry have increased their oversight.

Finally, CryptoCompare concludes that exchanges have responded positively to the increased scrutiny, with many of them "strengthening their processes in terms of security, regulatory risk and KYC regulations."