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How to Choose the Right Cryptocurrency Exchange?

by on December 7, 2017
 

Choosing the right cryptocurrency exchange can make a world of difference for an investor. Everything from the exchange fees to the quality of the services help an investor rate an exchange. If you are looking for the right exchange then a good place to begin is https://www.cryptocoinjudge.com/ where you will find detailed reviews related to different cryptocurrency exchanges.

If you already have an altcoin wallet and want to invest in an ICO then you must head to https://www.icotokennews.com/ where you can find out which token are currently being offered and which ICOs are due to begin.

So let us look at some factors that can help in identifying the right exchange for your investments:

  1. Which country is the exchange located in and where are you located?

It is best to choose an exchange located in your home country. It makes transactions smoother. Most of the times if you try to sign up for an exchange in a different country, you will be informed that you cannot use their services.

Location plays a role in the entire process of making payments since you will be using your bank account or credit card to register on the exchange and create an account with them.

  1. How do they accept payments?

This is crucial too. After all you may not be willing to use certain modes of payments. Do you want to pay through PayPal? Or are you looking forward to use your own bank account? Depending on the method of payment you want to use, you will be able to identify which exchanges will work for your investments.

  1. What are the exchange fees?

If you are investing in cryptocurrency then it is obvious that you want to make money from it in the future. This is why you want to make sure that you go through the exchange fees involved in the transactions. A very nominal amount is charged in the form of fees but you should be aware of the fees and how they differ from different exchanges. Comparing fees across exchanges will help you choose the right one for you.

  1. Which currencies are available on the exchange?

You may have already decided which currency you would like to buy but there is a chance that in future you may want to invest in other currencies as well. So find out the currencies that the exchange offers and choose an exchange that allows you to buy a broader range of cryptocurrencies. Some popular currencies that an exchange should offer are:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Dash
  • Ripple
  • Monero
  1. What is the order book volume?

Exchanges often publish an order book which shows a list of buy and sell orders received by the exchange. By checking the order book volume you can find out how reputed the exchange is and it can also help you find out if adequate number of people are using it or not.

  1. How secure is the exchange?

Always choose an exchange which offers high levels of security. Look for two factor authentication and an HTTPS address to begin with. It will help you register with an exchange where security risks are lower compared to others.

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