What makes a good Cryptocurrency Exchange
So how can you find the right crypto exchange for you and how should you judge them?
which is the best cryptocurrency exchange?
When you deal with real money, digital or not this is important to know.
A mistake here will likely Cost you more than it will cost the exchange. And the last thing you should want is thinking you have a nice amount of any cryptocurrency and in the end, you find out you did not, or someone took it.
Now is this not as likely to happen as some of the media would like you to believe but it is crucial to find the right cryptocurrency exchange for you.
Trading instead of Investing in Cryptocurrencies
But for investing or simply buying your own bitcoin to use you have to look for an exchange that
There is no right answer as what is the best exchange as it depends or your needs are. ask yourself, what cryptocurrency you look to buy or sell and where you are located. Find below a list of all the parameters you have to consider when you look to open an account with a good cryptocurrency exchange
What to Look for in a good Cryptocurrency Exchange?
- How safe is the exchange is the website and server(s)? security is Key and those that have it are better.
- The transaction fees structure of the exchange are they charging fixed fees, percentage fees or spread.
- High liquidity.
- Their offering when it comes to the Cryptocurrencies, which ones do they have, and which currency pairs are available to trade Bitcoin, for example USD, Euro, Pound and other fiat /government issued currencies or Buy altcoins with other crypto currencies?
- Multiple options to buy Bitcoin or other crypto currencies through PayPal, credit card, wire-transfer or even cash ( yes some have this option).
- Does the exchange provide transparent data of coins transactions, prices, volumes and other important information?
- Actual Client feedback, is this positive or negative. Are current customers satisfied?
- Ease of use. As most people will be new to the cryptocurrency world it should be easy for anyone to start the more complicated it is the more likely you might make a mistake and the process will take longer.
There are cryptocurrencies that it is like opening a bank account and they require from you to fill in numerous forms and present documentation. This is not always a bad thing as this means they require this most of the time for compliance to some form or regulation.
Still be careful what you send anyone.
Every month new exchanges hit the market and some of the new exchanges come from forex brokers in which case if they are regulated have a plus in my book concerning reliability.
Take your time to find the right one and look beyond the marketing message. Good luck