Over the past decade, cryptocurrency has grown in popularity. It is an alternative to fiat money and is regarded as the future of money. Money has evolved from different stages throughout history, and crypto is in its new shape. Institutions and individuals are becoming more interested in cryptocurrency.
Investors in the crypto market increase day by day. Nevertheless, many countries and giant economists believe it is a fraud with no future. It is because crypto is a decentralized market. No one has held over it. It has both its strength and drawbacks.
Strength in the sense that no one can dictate to you and make use of your money, and drawback in the sense that you have no security of your money. So to invest in any type of crypto exchange, you need to look into a few things.
Security
Security is the first thing you should look after before starting bitcoin or any other cryptocurrency trading on a platform. There are two different types of exchanges. Centralized and decentralized crypto exchanges. The centralized crypto exchange has more security features than the decentralized exchange.
You should also look at the exchange, which has two-factor authentication. In this way, your trading and cryptocurrencies would be safe from bots or being hacked. Because there is an excellent danger of hacking your account if the security of the exchange you are trading on is not up to the mark.
If the exchange you are trading on does not provide sufficient security, you can lose all your money. So next time you trade, be aware of this fact. And look for a better security exchange.
Fees
There are different types of fees in the crypto market. One is trading fees, one is withdrawal fees, and others. A trading fee is a fee you would give to an exchange on which you buy or sell your crypto coins. At the same time, withdrawal is the fee you have to pay when you move your crypto to another platform.
So all these fees are inevitable. You cannot avoid them. But some exchanges like Gemini do not take any fee from you while withdrawing your crypto to your third-party wallet. Some crypto exchanges cost you zero fees on trading.
So if you are a new investor, you should look at those exchanges which cost you less than other exchanges with more security. But remember, if the safety of the exchange is not good, then do not look into the fee they cost.
Reputation
The reputation of the exchange is an essential thing in the crypto market. You should know the reputation of the exchange before trading or investing in it. Do your research on the platform you are going to trade. See how people see it. Whether it is reliable or not? Whether it provides security or not?
You can view the reviews of certain exchanges on the internet. Like when you download a particular app of an exchange, you can see the thoughts of the people about certain exchanges. There is also some website that gives you reviews about exchanges.
So before trading, look into these reviews and then decide for yourself the best reliable trading exchange for bitcoin trading.
Accessibility
It is the most critical part of selecting a reliable exchange for trading. Do not ever select an exchange that is not available or legal or yet to be legalized in your state or country. Some governments are still figuring out what to do with crypto trading. They are in the process of accepting it, but it will take time.
So before trading on any exchange, look at whether it is accessible in your country or not. Because if you trade on a particular exchange and that is considered illegal sometimes later, you can lose all your money.
For example, Binance is illegal in both US and India, so those residing in these two countries are advised not to trade on this exchange till it is legalized again.
Conclusion
So before trading on any of the crypto exchanges, look to its reliability. Look whether it is providing security to you or not? Whether its reputation good or not? Or whether it is worth reliable or not?
But if you are still confused about an exchange for trading. Then you can go for Bitcoin Trader app. It is a reliable platform with a 90% of success rate. It will provide you with information about what to buy, what to sell, when to buy, and when to sell. It works with the help of AI and ML software.
It works like robots that can efficiently work to buy, sell and trade-in exchange without any human help.
