With the emergence of multiple cryptocurrencies, choosing the right exchange can be difficult. There are numerous factors to consider, not to mention choosing an exchange platform that meets your requirements and expectations. To help filter which exchange is best for you, the main factors to take into consideration are:
Liquidity is the easiness of buying and selling, with regards to the daily trading volume on the market. Having a high liquidity means there’s a high volume of buyers and sellers trading daily. High liquidity is a positive indicator of a fluid market, which in turn can create better price discoveries and faster transactions. Reliable exchanges have daily trading volumes within the 6+ figure range.
An exchange’s security protocol is essential to their platform; as it’s the main component that protects cryptocurrency investors, their investments, and prevents hacking and fraudulent transactions. Security measures are also what keep your coins safe. Here are examples of the various types and levels of security measures that exchanges utilize >
You want to go with an exchange that’s user-friendly but also has customer friendly services. A user-friendly exchange is a responsive platform, that streamlines the processes of verification, deposits/withdrawals, fund reflections and daily trades; saving you time, money and peace of mind.
Having a friendly interface requires that exchanges provide the necessary indicators and technologies needed for simple navigation, but also can enable traders and investors to become more efficient and informed with their user actions. A good exchange platform should offer an enjoyable user experience, that allows for anyone to easily operate on it, from a novice to the more experienced crypto expert.
To make an informative decision on which exchange platform to go with, you must weigh all your options and see which factors benefit you and your investments the most. There are different types of exchange platforms, each with different kinds of features that offer high volumes of liquidity, user-friendly interfaces, strong security measures or low transaction fees. As long as you’re knowledgeable about the platform you’re looking to join, you’ll make transactions that are safe, efficient and will eventually pay off.
The aforementioned statements also apply in regards to an exchange having quality customer support. A good customer support system should relieve customers’ fears, frustrations and anxieties that are associated with the interfacing and making transactions. Quality customer service allows for any crypto related issues to be quickly resolved, having the user feeling confident about their transactions and satisfied with their overall user experience. Typically, the exchanges with the best user and customer friendly experiences will also see greater volume increases in transactions, which also leads to those exchanges attracting more users. Users throughout the crypto community, highly value an exchange’s ability to provide a platform that’s user friendly in it’s functions and can offer quality customer service.
Cryptocurrencies brought a new technology trend for payments and applications, decentralized systems moving into the field of AI