NEGOSENTRO.COM | Things to Consider When Choosing a Cryptocurrency Exchange | You’ve done your research about cryptocurrency and are ready to make the investment, but you are not sure where to buy it. There are a number of cryptocurrency exchange options out there, all with a number of great features. Unfortunately, there are also some places that lack security, and you will want to avoid those places in order to protect your money and your investments.
Choosing the best cryptocurrency exchange can be a trying process that takes a lot of research, but it’s worth the time that you put into it. Most importantly, you’ll want to work with one that has features like secure authentication, advanced infrastructure, and transparency, all with the goal of providing its users with peace of mind. For instance, while Bitbuy makes it easy to buy Bitcoin they also have invested in secured world class cloud providers, multiple off-site disaster recovery locations, and redundant geo-located instances to ensure priority uptime. All of their providers are ISO, SOC, and FIPS 140-2 complaint, as regulated by the federal government.
What you should consider when choosing a trading platform:
- Types of coins available – exchanges will only usually only have a handful of coin types available like Bitcoin (BTC), Biotcoin Cash (BCH), Ethereum (ETC), Litecoin (LTC), and Ripple (XRP); you’ll need to make sure that the exchange you choose supports the type of crypto cash you are interested in making an investment into
- Market activity – you’ll want to choose an exchange with high liquidity, meaning that there are a number of buyers and sellers on the exchange and that you’ll be able to get better prices and faster transfers
- Security initiatives– as already discussed, the best cryptocurrency trading platforms will make efforts to secure your assets
- Quality customer support – responsive and reliable customer support is especially important when working with a cryptocurrency exchange because buying and selling Bitcoin can be an stressful experience, especially if you run into issues that require technical support
- Reasonable fees – you wouldn’t want to be losing money from the fees you pay on your transactions, so make sure to find a cryptocurrency exchange that offers reasonable prices for their services
- User friendly – how to buy and sell Bitcoin might be something that you’re still learning about, so you wouldn’t want to use a website that makes it even more complicated; the platform you use should be reliable, intuitive, accessible, and grant you everything you need with the click of a button
The exchange you choose will beyour gateway into the world of cryptocurrency, so it’s wise to consider these factors carefully. Hopefully with this list you have a solid foundation for how to begin your search. Just remember that no matter how excited you are to buy cryptocurrency that it is an asset that you own and thus should be treated with the same care as real money, or even gold.
With smart decisions, buying and selling Bitcoin can be the best investment that you ever make.