Consider this situation: you’re geared up for a trip on the road only to be handed a bicycle instead of a car. Thats the kind of feeling you’ll get with selecting the wrong crypto exchange. Instead Lets dive straight to the core of the subject in regards to your selection.
Start with security. Crypto isn’t exactly fool-proof. Kraken and Gemini function like your personal superhero, safeguarding your coins better than MyGuard robot guarding precious metals.
You’re all set once the exchange has an easy to use user interface. None wants to wrestle with something as complex as constructing a spacecraft. Be it newbies or veterans, Coinbase does not fail to make your day. Binance, however packed with options is more like a jigsaw – fun but tough for beginners.
The scariest thing about trading cryptocurrencies, are the fees. Many exchanges will lure you in with low trading fees but will then kill you with high withdrawal costs. Keep an eye out for any secret charges while you’re at it. This is one area that Coinbase and Binance are usually upfront with.
You get to judge exchanges by their volume and liquidity. If you’re buying Bitcoin and want a good price, make sure there are a lot of Bitcoin changing hands. With an upbeat marketplace full of trading potential, Binance is one exchange never to ignore.
Drastically essential is customer service. When things fall apart, you don’t want to be stuck reading a novel-length help guide. Kraken sits atop this when it comes to support with round the clock availability. Meanwhile, others might think customer support is of less priority.
Lastly, look at the array of crypto assets provided. Exchange like Bitcoin, Ethereum, or really popular coins will mostly be found on nearly every exchange. For the more exotic fares, you’ll want to make sure whatever you choose has a buffet of coins.
Trading cryptocurrencies isn’t easy. A good exchange will be kept hidden –under the hood while a bad one will make it feel like you’re on board with a testing robot of some kind. Eschew the wrong options and you could be the go-to crypto know-it-all of your circuit.