Crypto pundits have advised to checkthe security measures, liquidity quotient, rangeof coin offerings for trade and trading fees before signing up with a crypto exchange.
Good news for aspiring crypto investors planning sign up with a crypto exchange in the coming year. Crypto gurus have laid down the smartest tips to choose the right crypto exchange to ensure a safe and rewarding trading experience in the crypto scene.
Despite the recent bearish market, crypto trading is on a rise. As per the market sources, the trading volume in the crypto world is likely to peak to more than 50 percent in 2019. Increasing adoption of digital coins and mammoth value promised by cryptocurrencies are pulling in many aspiring investors to join the crypto revolution. And it’s the crypto exchange that facilitates buying & selling of cryptocurrencies in crypto trading. Thus, much to the convenience of newbies in the crypto world, experts have outlined the top points to keep in mind while choosing a crypto exchange.
The first thing to look for while choosing an exchange is its security measures. Hacking attacks on crypto exchanges are rife and more than 50% exchanges show vulnerabilities. Thus, huge stress should be placed on the security measures adopted by a chosen exchange. As per the experts, a crypto exchange can be declared reliable if it has walked extra miles to adopt the most advanced security measures like –
- 2-factor authentication
- Cold wallet for impenetrable storage of tokens
- Strict compliance to KYC & AML procedures
- Email encryption & verification on each transaction
The other important factor to look for while choosing an exchange is the liquidity quotient. The term “liquidity” here refers to the convenience of selling or buying in the crypto scene. Aspiring investors should take to an exchange that guarantees higher liquidity. Higher liquidity helps with better discovery of prices and faster transactions as well.
An ambitious crypto investor would always like to distribute his money among multiple cryptocurrencies for a more a diversified crypto investment portfolio. Thus, one of the most important things to check while choosing an exchange is its number of coin offerings. There is no point in sticking to an exchange that only limits to BTC & ETH. It’s smarter to sign up with a state of the art exchange that offers to trade in versatile range of coins, including new promising ones.
Last but not the least, experts have alerted to be mindful about trading or transaction fees demanded by an exchange. Some exchanges demand exorbitantly high transaction fees that leave traders with little or almost no profit. It’s advised that investors must take a comparative study on 3-4 exchanges before signing up to find the most competitive trading fee in the industry.
When it comes to promising exchanges today, Trade.io is commanding a good deal of attention in the crypto world. It comes across as a futuristic exchange that has been designed to fix the typical issues that plague the traditional crypto exchanges. Trade.io boasts a fully customizable interface and assures lightning-fast transaction speed. It has adopted all the state of the art security measures experts expect from a true secured exchange like cold wallet, AML compliance and of course 2-factor authentication. Trade.io also enables traders to trade in various assets and enjoy maximum profits with its very nominal trading fees.