Challenge #3: Jason wants the best

Challenge entry: Jason wants the best

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Jason had just arrived the big 4-storey building that was his last job. He had gotten the contract to paint it in and out immediately it was fully plastered. Jason made sure he gave his client something to cherish. The selection of colors were unique. Every person who passed by Cityzens Business Plaza couldn't help but take a look at how beautiful it's painting was. His client was so impressed and so were the people who had rented office spaces in the building. Jason was also very proud of this contract. Typical him, he always wanted the best.

Now Jason was sat patiently, waiting for his client's arrival. He was supposed to receive the remaining payment for the contract from his client. Four men walked into the lobby chatting loudly and happily. They took seats close to Jason and continued their chatting. Jason had known them while he was executing his contract. They had rented some of the office space and wanted to start a crypto trading training class.

"So mean you're tired of your exchange?" One of the men asked.

"Yeah buddy, the fees are too high and the trade volume isn't quite much, it takes a lot of time to complete a transaction" a second man replied.

"How much are the fees ?" The first man asked.

"2%". The second man replied

"That's sorry". A third man spoke. "You really should be tired of paying that". He added.

"The problem I have with mine own exchange is that it's not available in this region, I use a VPN and I feel uneasy about that". The fourth man complained.

"That's risky you know". The third man replied. "The only problem I have with mine is privacy". He added.

They all seemed to be complaining about their exchanges except the first man who spoke. His name was Nathan. Nathan had been into crypto for ten years. He had had a lot of experiences during that period including the good, the bad and the ugly ones. Now he's got a wealth of experience and is a cryptocurrency consultant. He looked at his three friends with pity and began to enlighten them.

"You know guys, I learnt something about crypto exchanges during my years of involvement". He started. "You have to carefully choose the one that best suits you. None of them was made for you as an individual, they all leverage on one industry advantage or the other." He added.

He went on to outline key points in selecting an exchange. According to him,

• Availability was the first thing to consider when selecting an exchange. If an exchange is not available in your region, it means they don't have a presence in that region and also can't offer support for any user in that region. No matter what the exchange offers, forget it.

• Security should be the next thing to look out for. If your money isn't secured in that exchange, it will be foolhardy to even put it there. security comes after confirming that you can use the exchange in your region.

• Privacy or anonymity then follows. Though some may not care, however, it's important to remain anonymous while transacting for your own personal safety.

• After your anonymity, then customer support should be next. You can't completely rule out issues in the future. So when they happen, there should be someone to talk to. If there is none, dealing with that exchange is like sitting on a keg of gun powder.

• Then transaction volume should be ascertained next. The more the merrier. It means you would carry out transactions faster. Now that's one thing any trader would like.

• Then there is transaction fees. Exchanges with lesser transaction fees are a honey pot.

• Also, you can check with the reviews to determine the reputation of the particular exchange you choose. If there are more negative reviews, then you need to be worried. Maybe even select another exchange. One tip with reviews is the complaints if it's a fault of the exchange or the user.

• Last but not the least payments methods can be an issue sometimes. You might want to buy crypto with your fiat. If you're not able to, that's going to be a problem. It'll mean you have to go through another means to get crypto and this may at least increase transaction costs.

Shortly after Nathan finished advising his friends, Jason's client came around with the rest of his payment. Jason collected it and hurried back home. He had been attentive to the discussion of these four men all the while. He even made some notes. He was going to check with his exchange to see if it really was the best for him.