How to choose a cryptocurrency exchange
The most important parameters for choosing a cryptocurrency exchanger are reputation and reliability. One of the biggest problems is that since the beginning of the cryptocurrency exchangers, they have been attacked by hackers.
In fact, there have already been cases of exchange closures due to theft of funds. Including fraud and deception on the part of the owners of these exchangers. This is why exchanges under the jurisdiction of the United States, Japan, China, South Korea and other countries, where they are somehow regulated by the state , are considered the most reliable.
The first licensed cryptocurrency exchange is open in Switzerland.
I recommend that you observe these 4 criteria to properly choose a reliable cryptocurrency exchanger:
- THE SIZE OF THE COMMISSION
All exchangers charge fees for depositing and withdrawing funds, when opening and closing an order. The size of the commission and the procedure for its calculation may be different. Therefore, it is necessary to find out if the amount of these commissions can affect the profitability of the trade.
- WAYS TO FILL IN THE ACCOUNT
At the best exchangers, customers are offered many options to enter and withdraw money. It is good if, except for bank transfers and payment cards, there is the possibility of refilling the account through the popular payment systems of WebMoney, Qiwi and others.
But if it doesn't offer the ability to make bank transfers, this should be alarming. Support for the most popular currencies is also important. Some Asian cryptocurrency exchangers accept only the national currencies of their countries.
- VERIFICATION
Confirmation of identity is not mandatory in most exchangers. However, verified accounts generally increase opportunities for trading and increase security. Of course, if you're only going to make a single transaction or a few from time to time, this section makes little sense.
- LIQUIDITY
This is an important indicator, which can be determined by the daily trading volume. The higher the volume of transactions, the greater the liquidity and therefore the execution of orders will be faster.
Finding an ideal exchanger that suits everything is impossible. Therefore, one must be guided by one's own needs and opportunities. For the final choice, you should familiarize yourself with the ratings of the exchanges of cryptocurrency exchanges that are regularly published on specialized resources.