Top 4 tips to remember while choosing a crypto exchangeJuly 17, 2019
A crypto exchange is the platform where you buy, sell, and exchange cryptocoins. In other words, it’s the platform where you execute your crypto trade. Are you interested in crypto trading and looking for an exchange of late? Well, there is no dearth of crypto exchanges today but there is a catch- not all would be compatible and safe for you. Multiple considerations have to be made while choosing a crypto exchange. The post below offers the major tips to keep in mind to choose the right exchange.
Check for regulation and license
An unregulated and non-licensed exchange is not trustworthy. When an exchange is under regulation, it has to abide by certain, rules, standards and protocols that prevent it from carrying fake and fraudulent measures. Thus, a regulated exchange always assures a credible trading atmosphere.
Look for decentralized exchange
Most of the crypto exchanges are centralized in nature. A centralized structure is very opaque and users don’t have the opportunity here to have a first-hand view of the happenings in the exchange. They have to trust whatever information is published by the centralized authority governing the exchange. As a result, many centralized exchanges have been found to produce inauthentic and inflated trading data to lure more users. And users had no clue that they were being duped.
Thus, it’s better to look for a decentralized exchange which boasts a transparent environment and that eliminates risks of fake data from them.
Consider the safety factor
This is certainly one of the most important aspects to keep in mind while looking for a crypto exchange. Make sure to find a crypto exchange which keeps maximum of its funds in cold wallet. These are offline wallets and hence beyond the reach of cyber hackers.
Highly potential coins
As an aspiring crypto trader, you are definitely eyeing on high returns from your crypto trade. But for that, you have to choose those coins that can actually promise of higher yields. Thus, make sure your chosen exchange lists all major coins and altcoins that are expected to boast a highly prospective future.
Decoin could be a promising name here. It is an emerging crypto exchange which has taken the revolutionary approach of adopting a decentralized structure to ensure a fair, transparent and trustworthy trading environ for users. Interestingly, it follows the unique model of revenue sharing with users where it shares 20% of its revenue with its token holders. The exchange is extremely careful of safety and stores 97% percent funds in cold wallet. Decoin also extends 24/7 multilingual call centers worldwide so that you can reach up to the support team, anytime you need to.
Learn more about Decoin : Click here