CHOOSING A CRYPTO PLATFORM
What Platform Should I Choose?
The most important thing is to do your own research. Figure out your exact purpose of choosing a cryptocurrency exchange platform, then pay attention to the following factors:
Safety and Reliability. Has this platform experienced technical problems before? Will it still function properly if the volume of operations substantially increases? Has it ever been hacked or overwhelmed by a DDoS attack? All these bits of info can help you with your decision, so always be on the lookout for them.
User Support. Will you be able to get an expert answer in case of trouble, or will you simply be redirected to an FAQ page?
Deposit and Withdrawal Methods. Keep in mind that using a credit card to buy cryptocurrency will always require identity verification; it is also likely to bring along higher transaction fees and additional chances to get scammed. Buying cryptocurrency via bank transfer will often take a lot of time as the bank needs to process your request, which is not always done in an instant.
Exchange Rate. Different platforms have different exchange rates. The difference may be as big as 10% — and in some cases, even more than that.
Transaction Fees. Pay close attention to any hidden fees that you may encounter while trading, depositing or withdrawing funds. Make sure to find out everything about a given platform’s fees before registering and making your first transaction there.
Geographical Limitations. Some functions of a platform may be inaccessible to users from certain countries. Consider this before registering.
Margin. Just like at the stock market, margin trading can be accessible to big-time cryptocurrency traders. If you are such a trader (or plan to become one), make sure to look for this feature.
“One more criterion is turnover. Exchanges have ratings based on the volume of trading: the higher the volume, the more people have entrusted their funds to the exchange. Also, pay attention to the lifetime and history of the given exchange. Be cautious about new exchanges: it is better to give them some time to prove themselves”.
I totally agree with all your points but from your personal experience,which one is the best??
coinbase store 90% of their coins in cold storage aswell thats why i liked coinbase but fees are not the cheapest but safety is my main concern cheers
I Have tryed a few of them and agree coinbase has higher fees but for new people its relativly safe but limited coin offering. Only like the biggest 4 coins.
yes thats true you can download exodus wallet and use shapeshift or changelly to exchange to many different coins or nano s ledger wich has many different coin options for storage cheers
hey thanks for reply binance and coinbase is what i have been using as they seem to be most poplular with big user base and have had no problems with either so far ,i also have a cold storage wallet nano s ledger to be completely safe ps have started following you aswell
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