IMPORTANCE OF EXCHANGE LICENSING REGARDING CRYPTOCURRENCY

Hello to everyone in this wonderful community and on this great platform at large. I greet you all in good spirit and I want to believe that we all are doing just great today and if so we give God the praise for the sustenance of life and good health.

I welcome you all to yet another beautiful day in the month of August and I want to believe that we all are doing just great at our individual residence, and if so, we give all thanks to the creator for that.

Today, I am here among you all to discuss about an important topic regarding the cryptocurrency market exchanges. Recently, we have been talking about exchanges and the reason is because we ought to understand certain important aspects regarding exchanges before trusting these exchanges with our assets.

So today, I will be talking about The importance of exchange licensing. I urge you all to sit tight and relax as I begin the discussion today. I wish you all a happy reading!

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Cryptocurrency market exchanges as we all know, they are platforms through which we trade our digital assets. This has to do with the buying and selling of cryptocurrency assets, as well as transferring and withdraw assets when needed.

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Aside the above features, the exchanges plays a crucial role by storing and keeping our digital assets safe and with that, it is almost impossible for another person to gain access to our digital assets without our permission and this is because the exchanges are secured and can hardly be bypassed by a fraudster.

In as much as the digital market exchanges are crucial and are needed by digital currency enthusiasts, it is essential that these exchanges possess a license for existence and this is the main topic of the day. In a few minutes, we will be talking about the importance of exchange licensing in the digital currency world.

IMPORTANCE OF EXCHANGE LICENSING IN CRYPTOCURRENCY

The word LICENSING simply means the accreditation of practice. This is a go ahead commissioned by a particular body to an exchange haven completely all the processes required and having accomplished all the due procedures required to be a licensed exchange platform.

The license is a sign of transparency and fairness regarding all operations that are carried out on the exchange. It provides a legitimate proof of existence and shows that the exchange in question is operating on an existing legal protocol.

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Users are skeptical about certain exchanges this days. We get to see various exchange platforms revealing themselves lately and trying to lure users so that they can make use of the platforms and a whole lot of these exchanges are not legit and as such, they conduct illegal activities and so not abise by the law.

It is very crucial to always scrutinize exchange platforms before making use of them or before signing up to be part of their users. You have to conduct a thorough investigation and search to see whether or not the exchange platform in question is being licensed and if your region supports such exchange.

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When an exchange is being licensed by the government or body handling cryptocurrency market exchanges in a given country, this ascertain that the exchange operates on a legal basis and also abides by the given ules and procedures regarding the region.

Some exchanges are not licensed in your region and as such, it is not advisable to make use of them. This might result to an unwanted circumstances resulting to the exchange turning out to be illegitimate, and when that happens, one may not be able to make use of such exchange again.

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CONCLUSION

I will conclude by saying, always investigate the exchange platform you intend to make use of in other to see if your country or region has licensed such an exchange platform. This will not only boost your confidence in the exchange, but it will also prove that the exchange can be trustworthy and it is widely accepted by the given region.

Thank you a for having me today, I look forward to seeing you all in good spirit when next I am here again, but for now, I say goodbye all.