Find The Most Suitable Cryptocurrency Exchange
With literally hundreds of cryptocurrency exchanges operation across the globe selecting an exchange for cryptocurrency can be a daunting exercise.
How do crypto exchanges differ? What is the best way to begin to narrow down your list of possible options? Are there any trades which should be avoided?
These suggestions will help you evaluate your options before you sign up.
The first thing is the most crucial
A variety of cryptocurrency exchange options can be avoided by asking three simple "go/no go" questions:
What cryptocurrency do I want to purchase/sell?
Many exchanges trade only in just a few cryptocurrencies (sometimes just one or two) Therefore, it's crucial to find an exchange that supports your preferred cryptocurrency. This is especially the case if you're seeking to buy or sell smaller altcoins.
How will I fund my trading activities?
Exchanges may have limited payment options. You may find an exchange that appears to meet all your requirements, however if they don't accept the payment method that you're hoping to use, you're back on the drawing board. Sneak a peek at this site to get additional hints about DAX.
Where can I find a place to stay?
Not all exchanges support all regions. Technically speaking, some exchanges may support your region. However, they may not be able to support the local currency. This can lead to additional costs incurred for international exchange fees.
Other points to consider
If you've narrowed down your options of exchanges in light of these 'go/nogo' questions, it's worth taking a look at the following factors (weighted according to your individual preference) to help you determine the most suitable exchange for you.
Reputation How do others have to say about the exchange? What is its pastspecifically in connection with fraud or hacks? Is the exchange insured? Does the exchange have a license?
Rates of exchange and fee structure: What costs does the exchange charge to buy or sell cryptocurrency? Are there hidden charges? What rates of exchange are they offering?
Security measures: Hackers perceive crypto exchanges as "honey pots. To prevent funds from being taken, any exchange worth its salt should be protected.
Users verification: While it can be a bit frustrating to wait, when you're eager to trade, the verification process is a good idea because it complies with local laws and can help protect against fraud. Consider using exchanges that take user verification seriously and complete this step quickly.
Reliability: What is the exchange's volume of trade? How has the exchange traditionally handled higher quantities of trade? Keep in mind that exchanges with smaller volumes of trade might take longer than larger exchanges to process your trade.
The ease of use is a major factor to consider when selecting an exchange, particularly for those who are new to the cryptocurrency marketplace. What is the user-friendly look? What useful features does the exchange offer? How are they able to assist customers? department?