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How to choose the best cryptocurrency exchange? Criteria and tips

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How to choose the best cryptocurrency exchange? Criteria and tips

In order to operate with your cryptocurrencies, you need specific applications to perform tasks such as trading or simply change from one currency to another. Choosing the best cryptocurrency exchange is paramount, since it will practically be your working tool.

Remember that a correct choice will make all your work be the right one, so we want to give you a walk through the criteria and tips that you should take into account to choose the right service for you. Remember that you can have 2 or 3 services you trust and take advantage of them to get more benefit.

Before investing in cryptocurrencies, it is best to choose a cryptocurrency exchange that can serve your needs.

Choosing a cryptocurrency exchange: 5 tips to consider ✅

Choosing a cryptocurrency exchange is crucial if you need to welcome the new digital economy. There are many options for users, but unfortunately the vast majority have some accessibility and security issues, so you need to take these 5 tips:

What is your experience in the world of cryptocurrencies? Your main objective 🤔

First of all, you must know what exactly you need. What is your purpose? What is your main objective? These are 2 of the questions you have to ask yourself at the beginning of your research.

Why is it necessary to know this? Simple: Because from here it also depends on what features the platform requires for you, as issues such as regulations can come in.

Do you just want to buy and sell cryptocurrencies? Then you need security and a reliable platform. Do you want to do something beyond that like trading or interest? Then you need to be aware of government regulations so you don't fall into fraud operations.

Safety in every process 🔒

This issue is very important and not for less: when there are financial transactions or transactions involving money, you always need to look for transparent platforms with visible data.

Keep in mind the following: choosing the best cryptocurrency exchange means choosing the platform that can guarantee the processes and services. For that reason, it is best to choose a platform certified with SSL (or https) so that you can avoid hacks, as well as being compliant with the General Law on Personal Data Protection.

Also keep in mind that the payment platforms available must be regulated, in addition to offering secure and efficient payment methods to avoid losing your money.

And also, of course, customer service in your language and every day.

Company's time in the market and in operation

Why are you currently a customer of your bank or internet service? You usually choose companies that have been in business for years. In the crypto world something similar happens, since it is best to choose companies that have been operating for a long time.

Maybe in the cryptocurrency world we don't find companies with 10 or 20 years of experience, because of the newness of the market. But, the best exchanges in the market have 3 to 5 years operating consecutively and have not been involved in issues of data theft or bad news.

But also the time of operation serves to have external opinions of users and to know in a better way the reputation of the company. In the world of cryptocurrencies, there is also information that you can get the more trading time, such as:

Successful customers.
Transaction volume
Available trading pairs
Social Networks
Settlement.

Payment methods: liquidity, trading rates and more

This is a point we already mentioned, but we want to go deeper. To choose the best cryptocurrency exchange, you need to take into account liquidity, trading rates and more.

For beginners, payment methods are very important, as the easier the way, the faster you will get your cryptocurrencies.

In addition, you already have transparent tools where you can monitor liquidity status, trading volume and more data such as reserves. Coinmarketcap is the best for this.

Countries in which it operates

Lastly (but just as important) is that you find cryptocurrency exchanges operating in your country. Why? Simple:

Support in your language.
Payment and withdrawal methods suitable for your home location.
Traders in your country and in your time zone.
Current legislation and permissions to operate.
Operate with the most used currency in the country.
Registration processes and identity verifications.

The Internet world is free and you can register in almost any cryptocurrency exchange. But, Check that it operates within your country, to avoid many future problems..

Security, trustworthiness, operability and country of origin are just some of the criteria to take into account when choosing a reputable cryptocurrency exchange.

Why is it important to choose a reputable cryptocurrency exchange?

What is a cryptocurrency exchange? Simple: they are pages or apps that allow you to buy, sell and exchange cryptocurrencies. For that reason, one of their main functions is to guarantee security for all users (for that reason, all serious companies have processes such as KYC, to guarantee their operability).

But why is it important to choose the best cryptocurrency exchange? Simple: these companies usually work as a bridge between users who want to buy and sell digital assets (for that reason they are also called trading platforms).

But in addition, it is also necessary to ensure security because the companies also offer services for the custody of cryptocurrencies, so these elements must have bank-level security.

Conclusions

Choosing the best cryptocurrency exchange depends on several factors. Security is paramount (as in any financial service), but you should also take into account other factors such as your experience, time of operation, payment methods and the country where it operates.

Are you in Latin America? One of the options that combines these 5 characteristics is TruBit. It is fully regulated in Latin America and has been in the market for 4 years, so you can research all information about this exchange.

It also has easy to use payment methods. For example in Mexico you can buy your cryptocurrencies via bank transfer and by credit or debit card. In Argentina also the buying market is expanding with their new licenses (plus you can also check news about their new investment rounds).