The cryptocurrency exchange is the core element of the crypto market. Without it, there would be no trading and without trading, there would be no market. It’s as simple as that.
The exchanges are the main tool that people use to make profit from cryptocurrencies and in this article, I will show you how to choose which exchange is best for you.
Cryptocurrency exchanges are very different, they have different security levels, they have different ways of trading and they have different reputations. For a normal person, it can be hard to determine which one is best for him.
I will give you 7 aspects that you need to look at when choosing your cryptocurrency exchange:
Which cryptocurrency exchange is best for me?
A guide on what to look for in an exchange. – A personal opinion.
If you are considering getting into cryptocurrency trading, there are many aspects to consider before diving head first into the rabbit hole of exchanges. This article will list a few of the most important things I look for when investing in a new exchange.
- Liquidity:
- 2. Altcoins
3. Liquidity
4. Security
5. Geographical Restrictions
6. Ease of Use
7. Customer Support
This has been my biggest issue with exchanges in the past, Liquidity! The Cryptocurrency market is still in its infancy and it seems like every day there are new coins and tokens that are being released. Because of this, there isn’t enough active trading volume to allow for large trades without majorly affecting the current market price, especially if you’re trying to sell a large amount at once. This is where liquidity comes into play; Liquidity describes how readily an exchange can be traded without causing a drastic change in the market price.