How a crypto exchange works? Part 1

^{Asshalamu alaykum, I'm @toufiq777}

How a crypto exchange works? Part 1

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Dear steemians in my todays post I like to cover details about crypto exchange to be more specific I will talk about how crypto exchange work, how to choose a reliable exchange and how to trade there. This is the part 1 of this series. So, let’s begin. I believe you will love it.

What is a crypto exchange?

Crypto exchange function similarly to stock market, giving users facility to invest in and trade currencies such as btc, eth and usd with low fees and strong safety features. Top crypto exchanges make it simple to invest in and trade the currencies user wishes.

There are many cryptos available in the market. Additionally, more crypto are getting created on a monthly basis. Interested investors those who are new to crypto have to decide how to invest, where to invest without any difficulties. In this scenario no options can be more suitable than a crypto exchange. There they can both buy crypto and sell them easily whenever they want. As well as if user wants to stake tokens for a passive income or interest for holding specific cryptocurrencies exchange is the most reliable option. That entails opting to trade in a crypto exchange and to know how to use it.

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How to choose a reliable crypto exchange?

For the uses stated above users need to find a secured and trusted exchange which both has popularity and volume. Now ill share few points that you need to consider while choosing a crypto exchange.

Being aware: The first thing to remember when choosing a crypto exchange is to be aware that fraud and corruption exist and they may have a serious impact on ordinary investors. For instance, Gox which was one of the first and most popular crypto exchange went bankrupt. Other bankrupt exchanges may have been hacked or compromised in any way.

Doing research: Reputation is the most important factor when it comes to crypto and exchange. Investors need to take the time to thoroughly research the exchange before creating an account there. Need to go through what do other user think about the exchange, if they have any fraud activity in the past or misuse of funds.

Security of the exchange: Security of an exchange is the top most concern. If investor faces much difficulties with security and identity verification process that means the exchange has strong security and regulations. If it is too simple to open an account, it shows that the exchange is not very trustworthy.

For today I want to finish here in my next post I will talk more about how to choose a trusted crypto exchange and many more.

Conclusion

Whether you are a new or old crypto investor, you have to have an account in crypto exchange to trade smartly and smoothly. As using dex is way more costly because of high fees. So it is better if we can choose a reliable crypto exchange.

Wishing well to all.

^{Vote for @bangla.witness}

Thank you
@toufiq777