The lack of deposit or security insurance
Stocks bought at any broker in the United States are insured up to $500 000 as well as your cash. Cash and stocks are insured by Federal Deposit Insurance Corporation and Securities Investor Protection Corporation. This means that if some broker goes out of business and wipes out all the deposits, then the government will reimburse the harmed clients. The insurance provides significant peace of mind to stock investors, whereas cryptocurrency exchanges do not provide either cash or asset insurance. The only exceptions are Coinbase and Gemini, which only insure cash deposits.