February 26, 2021
The top cryptocurrency trading platforms are waiting for you to grow your digi-finances today. How then can you differentiate the best ones from the not-worth-your-time mediums? We’ve asked analysts and here’s what they have to say.
1. Wide Fiat Options
You’ll be surprised to know that not all cryptocurrency platforms allow fiat currency exchanges for digi-money. In other words, they don’t accept “real” money (i.e. the currency of the country you belong to) to buy digital coins (or at least, the fiat currencies they cater to are limited).
But the best cryptocurrency exchange platforms do. Still, the best way to go about this is to check that they are affiliated with your bank/s, and cater to the fiat currency available to you. If it isn’t listed on their website, you can always ask to speak (chat, most likely) with their customer support for more data on this.
2. Cryptocurrency “Brands”
Second on this list is that you should learn about what specific cryptocurrencies a platform offers, and permits, in terms of digi-money buying, selling, and exchange. Most cater to the big whales, if you know what we mean— Bitcoin, Ethereum, Litecoin, Cardano, Bitcoin Cash, Polkadot, the list goes on (to a point).
However, you’re taking experts’ advice about diversifying your virtual currency investment portfolio. You have since been doing research about smaller-named cryptocurrencies that have been predicted to hold much promise in the future. Accordingly, that’s where you need to set your sights towards. Exchanges that run on said crypto-brands.
3. Fair Transactional Fees
Compare the transactional fees of the platforms on your roster. This doesn’t have too much to do with the caliber of the site itself, but more with what’s economical for you, budget-wise.
On that note, cryptocurrency exchanges that charge too-high transactional fees are out to get your money. You can stay away from these and choose those that have reasonable transaction charges.
Cryptocurrency online platforms have insurances? The best ones do. “Insurance” here is for investors. Yes. You. Call it your protection in the investment world of digital currencies, in the event that special circumstances take place and shake the stability of some or most of the present up-and-running cryptocurrencies.
Don’t let this frighten you. Remember that even in “hard money” investing, there’s the presence of risk. There are times when the market numbers rise, and times when they fall. The same is true with cryptocurrencies.
Be that as it may, it’s wisest to go for an exchange that offers this option. The terms will vary per platform. Still, the gist is that a percentage of your investment will be safeguarded should unexpected cryptocurrency shake-ups and market fluctuations transpire.
5. Asset Pricing
More reputable platforms often have both fiat AND asset pricing available for the exchange of crypto-coins. As such, the prices of assets they accept will differ according to location. Again, make your comparisons and choose the intermediary with the most inviting asset price available.
This may also have to do with asset volume. The higher the volume, the better the rates get. Should you be faced with prices that are way too off the grid and unstable, that could speak of low liquidity by the platform itself. Something you’ll want to do without, with cryptocurrency exchange as a vital part of your, and the world’s, cryptocurrency investment game.