There are many platforms available for the buying and selling these currencies. However, before moving into this industry one should always focus upon the following factors – read here!
1. AUTHENCITY
Prior to deciding on the right exchange platform like a website, one must first gather information about the history of the organization. It includes information about the company’s team, the goals they have, the market history, as well as the credibility of the field of cryptocurrency exchange. It is up to you to decide if your information about the company can be helpful or is not. Exchange platforms are responsible for making sure that you get a secure as well as error-free trading.
2. Procedure of Purchase
If you want to understand what is happening in the market, also consider different methods of exchange options that are possible.indirect trade method can be carried out in a direct peer to peer network across diverse countries. Additionally, there are different exchange rates available and sellers decide their individual rates. While on the trading platform these bitcoin exchange platform serve as a bridge between sellers and buyers .a fixed cost is charged for each user.
3. Modality of Payment
There are a variety of transactions offered by these exchanges that permit you to make exchanges in terms of already mined coins. In case you’re novice to business, then it is also possible to purchase crypto by exchanging fiat money. Payments can be made via Visa MasterCard, Visa, Debit Card or bank account. Additionally, there is a bitcoin e-wallet available in your account that functions just as your usual currency wallet that enables you to buy and trade with trading firms.
4. Fee Structure
The costs for conducting an exchange differ from and every other exchange around the world. It is the fee that usually determines the movement of the customer since higher rates of fees ensure greater security and less risk involved during buying or selling bitcoins. Certain Bitcoins charge only to sell bitcoins. Purchases are totally unaffected.
5. CUSTOMER SERVICE
It’s difficult for a lot of cryptocurrency exchanges to react quickly on customer complaints. Most legitimate complaints remain pending .there is a requirement to resolve customer issues regarding the exchange. If any exchange platform fails to deliver beyond FAQ, then it is certain to be a red flag respect to the reputation of the company and its clients.
6. SECURITY
You can tell by the previous performance of an exchange if it’s been previously hacked. There is a chance of having it hacked again if the company has been known to be hacked in the past. If the developer has not upgraded the security to guard against hackers.
7. COIN EXCHANGE
The majority of bitcoin exchange companies provide exchange of coins into different currency, however some of them are limited to altcoin, Litecoin, Ethereum. It is recommended to look into other ways to diversify your investment.