With cryptocurrencies turning out to be a significant force in the investment world, it further developed into a massive trend with the potential for investors to profit. One of the most popular ways of buying and selling digital assets is through the use of a cryptocurrency exchange platform. Crypto exchanges are online platforms that allow you to exchange digital assets for another based on cryptocurrency exchange rates. There are hundreds of crypto exchanges out there, and choosing the right one can be a very daunting task if you don’t know what criteria to look for. It is important to note that picking the proper exchange can have a significant impact on the success of your investments. Here are a few key things to note when searching for the right cryptocurrency exchange platform:
A vital thing to keep in mind when considering and searching for an exchange is that some of them may be scams and frauds. One way to make sure that a particular crypto exchange offers legal service is to look for a physical address associated with it. An absence of a speech should be a sign not to use it as firstly, transparency is often a sign of legitimacy. And lastly, should an account gets hacked, it would be easier to address these issues with the crypto exchange, and any regulators that would need to be involved in a physical address is known.
When it comes to exchanges, status is essential to consider. Before even opening an account, take the time to research the exchange thoroughly. Read the reviews of other individual users and see what the crypto exchanges tell about themselves. Check and see if there had been any security issues in the past and how they dealt with it.
One way of testing out the security of an exchange is to see the procedures of opening an account. Usually, the more difficult and more sophisticated processes would mean that the exchange has a high amount of security. If generating an account is quick, the exchange may not be trustworthy.
• Fees and Pairs
Two significant factors that differ in cryptocurrency exchange platforms are its fees and currency pairs offered. Most exchanges include some payment for your transactions; based on the size of the transaction, level of activity, and others. Learn to spot these fees and consider how it could impact you as an investor. Another important consideration is the currency pairs that the exchange would offer. Some exchanges only offer a small selection of digital currencies for their users while others offer obscure ones.
Cryptocurrency Exchange Reviews
Every investor has their own unique needs, so one’s exchange may not be the solution for the other. That said, we will look into some of the popular cryptocurrency exchanges to compare.
The largest Bitcoin broker, their cryptocurrency exchange platform offers fast and secure service for new users to buy and sell popular digital currencies like Bitcoin, Ethereum, and Litecoin and supports customers in over 30 countries including the US, Europe, Singapore, Canada, and Australia. Customers can buy crypto through debit cards, SEPA transfer, and even bank transfer. However, transactions made with bank transfers may take up to 5 days to complete.
Coinmama allows customers worldwide to trade crypto with credit or debit cards and charge an average 6% fee on every transaction. Customers in Europe can also buy crypto with SEPA transfer for a lower price. An excellent feature for the exchange is that it has the highest limits for buying Bitcoin with a credit card, although it does have some of the highest fees among credit /debit card Bitcoin brokers.
Luno is an exchange based in Singapore dealing mainly with Bitcoin and Ethereum. Initially, it was launched to support South Africa and Indonesia but has now expanded to European countries. The exchange supports purchases through credit card and SEPA transfer. Luno is one of the more trusted exchanges with free deposits and low withdrawal fees.
Hopefully, with all these in mind, you may know what to look for when searching among crypto exchanges to find the right one that will suit your requirements.