How to choose the perfect crypto exchange?
Usually exchanges are associated with big profits. Many people think that such platforms are created for the chosen ones: only if you are a businessman or have millions of dollars, you can trade and receive income on the exchange. However, everyone can earn on trading, it does not depend on age, gender, profession and salary. But there is another challenge — how to choose your perfect cryptocurrency exchange?
The whole variety of crypto exchanges operate on the same principle, but their functionality may be different. They are constantly being expanded and improved with the sole purpose of attracting as many users as possible. Important parameters for them are:
- Supported coins and tokens — some exchanges offer only the most popular currencies to trade, in other places there are a huge number of cryptocurrency pairs;
- Deposit/Withdrawal of coins — some exchanges allow to withdraw only Bitcoin or Ethereum and several other common currencies, others have a much wider range of options;
- Fees — in this case everything is simple — the user wants to find the most reliable exchange with the lowest fees for transactions and trading;
- Fiat money transfers — there are exchanges that support only cryptocurrency pairs. Typically, almost all major exchanges support fiat in buying or selling crypto;
- Privacy — on some trading platforms it will be enough to leave an e-mail address, other require full identity check of a new user;
- Security — a single password may be sufficient to login or additional data validation procedures may be required — all depends on the exchange;
- Liquidity — on some exchanges trade volume may exceed $2 billion per day, while on others it may not even reach $10 000.
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