Crypto exchanges and their reputation

[Otasowie24]

Recently, I had this argument with my friends about how they choose a cryptocurrency exchange to trade in, setting security aside, as most exchanges now have fund protection in place. Is it by trading volumes alone? The number of social media followers? Or by their partnerships with other reputable brands?

My stance was a combination of everything. As we have seen, exchanges can fail despite having good trading volume, and some have huge social media followings, but this did not help when they faced difficulties. Combining both of these factors with partnerships with trusted brands can enhance confidence in using them, as most of these brands would not want to engage in any bad deals that could harm their reputation. After checking these factors then you can now add security to the mix.

The discussion was sparked by the recent partnership between Bitget and MotoGP. Based on this, I believe that the exchange, along with a few others, is doing an excellent job of instilling confidence in its users. Do you think my argument is correct? What are your thoughts?