That's a very useful guide to evaluating exchanges. One thing I'm glad about, believe it or not, is that I actually understood every words here even though I haven't bought any cryptos yet :) Now I have two question since we're on the subject of exchanges:
- What do you think of the following exchanges?
Kraken, Binance and Kucoin. - You said: "After you have received your digital FIAT currency you will be able to load your debit card and do some online purchases or hit the nearest ATM machine" - Are you referring here to our own debit cards that we already have from our banks, or to special debit cards issued by those exchanges?
Thanks for the wealth of information in this post.
Hey Nuridin, I am glad to hear that my post was easily understandable.
About your questions:
Kraken has a very good reputation (although I haven't used the exchange myself). Kucoin and Binance are very popular because a) they are new and b) both have their own coin BNB and KCS that give you lower transaction fees and let you share in the profit of the exchange just by holding them.
These are debit cards issued by the exchanges. I have a VISA card from Spectrocoin (alas now blocked because of the Wavecrest debacle) and a Mastercard from Payeer. I used both for online purchases, buying stuff in stores and ATM machines. As a fact my daughter loved the Spectrocoin card, she would use the card to buy stuff at the local supermarket.
Thank you for your answers.... Now, the full post is crystal clear to me. I wanted to sing up for the two ones you recommended (Litebit.eu and Anycoindirect.eu) but I remember you said somewhere in your post that they don't accept non-European users or something to that effect. But they do seem like a nice and easy way to cash out if I want to sell cryptos.