An essential aspect of the crypto ecosystem is the exchange. With a crypto exchange, users can buy, sell, and take advantage of their crypto assets.
Hundreds of cryptocurrency exchanges are available, so choosing the proper exchange can sometimes be challenging.
For those still confused about choosing a crypto exchange, here are tips for choosing a quality crypto exchange.
Security
The first tip is to know the security of crypto exchanges; you can find out if the exchange uses cold wallets to store assets, uses 2FA to maintain user access, has notifications to users if there is suspicious access, and so on.
By knowing the level and how safe the crypto exchange you choose, you can invest more calmly because the security is maintained.
Legality
Second, pay attention to operating licenses and legality. Registering the stock exchange with an official government institution means that the stock exchange has successfully passed the selection and followed the applicable rules.
With this legality, users can also be calmer in investing because when the exchange commits a detrimental violation, users can process it to the relevant institution and get protection.
Display
The third tip, see whether the display provided is easy to use and comfortable to see.
If these two aspects are met, the investment process can be more straightforward because users will not take long to make transactions and understand how the exchange application works.
Payment Methods
The next tip is to look at the payment methods and choose an exchange that provides payments through fiat currencies such as Rupiah to make the process easier.
Then, choose an exchange with various commonly used payment methods, for example, via bank transfer, e-wallet, etc.
Fees
Many exchanges charge additional fees for depositing, trading, and withdrawing. The fees also vary; choose an exchange with a cost that fits in your pocket.
Please do not choose a crypto exchange with high fees because it can make you spend more when processing transactions.
Liquidity
The higher the trading volume, the more liquid the specific exchange. Liquidity makes it possible to complete transactions faster, easier, and without dealing with price volatility.
Also, see if the exchange offers a “locked” price, which guarantees the price at the time of the transaction, even if it is not settled immediately.
Number of Crypto Assets
The next tip, choose a crypto exchange that provides a large selection of assets. That way, you can buy various cryptos; this way, you can use portfolio assets in one application that will make it easier for you to manage and see the development of your assets.
Insurance
Often this aspect goes unnoticed when choosing a crypto exchange, but it is essential.
Insurance helps save exchanges and users from unexpected losses, for example, when the exchange is hacked, and customer money is lost due to an exchange error.
Insurance means the exchange still has funds that can be used for compensation; without insurance, the user’s money can be completely lost and not replaced.
Reputation
The next tip is reputation. To find out how good the importance of the crypto exchange is, you can see it on forums or the value of the exchange application.
A good reputation means that this exchange can satisfy its users and make your crypto investment process much more comfortable and less worrying.
In addition to the value, check whether the exchange has ever been hacked, how they dealt with it, and if they could resolve it satisfactorily or not.
Company authenticity and customer service
If you’re new to crypto, there’s a good chance you’ll need an exchange with easy-to-contact customer service to guide the proper use of the exchange. Therefore, customer service is essential to pay attention to.
Next is the company’s authenticity; you can check if the exchange openly discloses the owner, company location, and team members.
With this exchange transparency, users can invest comfortably because if the exchange is too closed, they may avoid legal sanctions or the services provided are of poor quality.
Those are various tips for choosing the best crypto exchange that you can use as a reference when you want to use a crypto exchange to make transactions.
More News About Crypto : NEWS
Follow our Twitter : https://twitter.com/DinoDapps
