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What To Consider When Choosing A Cryptocurrency Exchange?

Last Updated On Thursday, May 11, 2023 | Written By - Mudit Jain


What To Consider When Choosing A Cryptocurrency Exchange?

Crypto investments and trading got a new level of adoption in the last couple of years.

There are over 20 000 digital currencies and over 500 crypto exchanges and apps for crypto trading, so it may be confusing to pick one the best suitable.

The question of choosing a crypto platform has a high level of importance because everything connected with investments should be protected and secure.

So in this article, we will try to figure out the main factors to consider when choosing a crypto platform.

How To Choose A Crypto Trading Platform?

Here are some criteria for you to pay attention to:

  1. Registration. Is it not recommended to use not official services because you risk remaining alone when facing troubles with financial withdrawals or other difficulties. There are many large and reputable platforms on the Internet. They operate officially and regularly undergo audits. Examples are WhiteBT, byBIT, Coinbase, Binance, etc. They will assist you if you face any problems.
  2. Liquidity. Small exchangers do not have enough liquidity to proceed with trading operations, it often happens that people wait for many hours until there is someone who wants the same trading pair. Choose large exchanges with sufficient liquidity.
  3. Security. Before investing money, learn about a crypto platform and try to see what mechanisms it uses to provide safety for users and funds. Find out the way it stores clients’ funds, etc. Learn the information about audits and certificates.
  4. Crypto available. If you need some exact digital asset, find out if a crypto platform supports it.
  5. Financial instruments. Look for a platform with a variety of trading tools, for example, p2p, spot, margin, etc.
  6. If you want to have the option to trade fiat-crypto pairs, you need a regulated exchange. On such platforms, you can attach your bank cards and buy crypto with cash.
  7. Customer support. It is an important service, for when you face troubles, you ended someone to help you.

Conclusion :-

We recommend using the WhiteBIT crypto platform, for it offers a variety of financial tools, over 450 pairs for trading, robust security, and 24\7 customer support.

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