You should know by now that if you really intend to buy and sell and invest in cryptocurrencies, you need to find a good cryptocurrency exchange.
It’s much like a stock exchange, and there are more than 200 cryptocurrency exchanges around.
If you think it’s going to be easy to pick a good cryptocurrency exchange, you might want to think twice. There are certain features that you have to look for when you’re searching for a cryptocurrency exchange BTC pricing.
We’ll tackle those features in this article. So, stay with us and read on!
Location
The very first thing you need to consider in looking for a good cryptocurrency exchange is its location. You have to find which exchange is available from where you live.
Considering this will help you quickly rule out other options automatically, since you will not be looking at exchanges that are not available in your country, narrowing the choices down to how many are nearby.
Most exchanges indicate this when you sign up, but still do your best to check. Look for an address. If possible, refrain from going into exchanges that don’t have clear addresses.
Reputation
This is another very important thing to consider. You want to know who you’re dealing with. You don’t want to entrust a large sum of your money to some person you don’t know anything about, or who is a total stranger.
Therefore, you should do your part of the homework. Do some research before you give your money to the cryptocurrency exchange. See what other people say about the exchange. Ask questions about its features and security.
As much as you can try to find how the exchange looks for many other investors. If possible, go the extra mile and try to know who owns and manages the exchange and where they are located. Equally importantly, check if the exchange follows the Know Your Customer policy and if it has anti-money laundering rules, which should be there to prevent criminals from using the exchange for criminal ends.
Customizable
Every kind of exchange offer the most basic functions like buying, selling, and checking prices, among others. These are the things you should expect to find in any exchange.
And for the exchange to be really trusted and worthwhile, it should be customizable and flexible so that it can suit your needs.
The functions that the exchange brags about should not interfere with the performance of it. they should not compromise the speed or the responsiveness of the exchange.
Information
As an investor information must be available all the time. It’s something a successful investor cannot do without.
Make sure that the exchange you’re planning to choose can provide all the information you will need for your investments. It’s a good idea to find an exchange with a great trading volume such as crypto engines. Greater trading volume means more accurate pricing information.
You can find almost any kind of exchanges out there, and each of them is different from one another.
Photo by Aleksi Räisä on Unsplash
