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QUESTION Are you wondering how to choose a Cryptocurrency Exchange?

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vest1992

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Here is a Tutorial on what criteria to focus when you choose a Cryptocurrency Exchange platform.

Choosing the right crypto exchange is the first step to enter into a cryptoworld transaction.
Choosing a platform should nt be done hahazardly to avoid losses such as hacking and theft.
Here are 7 important things you should consider when you choose crypto exchange.

1. KYC / AML

Know Your Customer (KYC) and Anti-Money Laundering (AML) are the first things you should pay attention to in choosing an exchange. Some platforms even require KYC and AML to withdraw funds, then users are required to provide a copy of a photo or sometimes someone asks for proof of residence. Because there are some exchanges that prohibit users from certain countries.

2. Security

Each exchange must have its own security method. Safety standards if the exchange already has two-factor authentication (2FA).

3. Reputation

The reputation of the crypto exchange is very important, because many exchanges present volume data that is false, involved in crime, fraud and hacking.

4. Fiat Currency Exchange

This depends on your need for fiat money, because out there many reputable exchanges do not have fiat money exchanges.

5. Trading Leverage

Derivative exchanges often offer leverage trading. So on this platform a trader can borrow money to trade.

6. Price

Each exchange will present different cryptocurrencies with other exchanges. so you can compare the price of certain crypto more expensive or cheaper.

7. Fees

Most exchanges charge a small fee for trading (usually less than 1% per transaction). Exchanges also have a withdrawal fee. It is therefore important to find out how much is charged for each crypto withdrawal (Bitcoin and Altcoin). Purchasing crypto with a debit / credit card will incur a higher fee, usually 5%.
 
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hani20980

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Hello ! Very nice and important topic we need to be very careful with chosing exchanges and i think the most important
thing is the reputation of the exchange and of course the security and fees are important i think Binance is one of the best exchanges right now
 

Sunilmurmu

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Hi!!! This was a beneficial topic for every crypto worker.
One should have to know about how to work on this type of platform.

Your crypto trading topic was great(y)(y)(y)
 
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vest1992

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Hi!!! This was a beneficial topic for every crypto worker.
One should have to know about how to work on this type of platform.

Your crypto trading topic was great(y)(y)(y)
Thank you for your compliment. We need to learn as much as we can everyday, that s how we grow in any area of life and that s what will make us prosper in this amazing life we are living on the beautiful planet we call earth.
 
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