There are numerous exchanges where you can purchase or sell cryptocurrencies, but it is quite difficult to make the right choice, especially if you are just starting your journey in the world of trading. You must keep in mind a range of factors to make sure that you have predicted the proper change according to your expectations, necessities and what is topnotch for you. Due to high demand, Bitcoin2Day has prepared a list of necessary criteria to select the most trustworthy crypto exchange.
Crucial elements to note when choosing a cryptocurrency exchange:
1. Liquidity
Liquidity means the ability of the company to convert its assets into cash in order to repay its liabilities when necessary. If you use the High liquidity method, you will choose the cryptocurrency exchange with numerous customers/sellers. Excessive liquidity is a great factor because it permits to detect the better price and allows you to change faster.
2. Safety
The level and form of security mechanisms are essential to secure your currency.
For example:
(a) your personal information are out of the net, out of reach of hackers;
b) availability of the two-factor authentication (2FA), 2FA increases the safety of your account;
c) encrypting and checking e-mail. For each transaction, email can be sent to your account to verify it.
3. The diversity of cryptocurrency
Many exchanges provide the trading abilities with couple cryptocurrencies, the most famous are Bitcoin and Ethereum. There are only some exchanges that provide a greater diversity of currencies. The main point: the greater alternatives – the more chances to have a good profit. Therefore, choose exchange that provides a big list of cryptocurrencies available to trading. The best choice – is Xtrabit cryptocurrency exchange that is currently trading with BTC, BCH, ZCASH, ETH, LTC and will add more currencies in the near future.
Please, look at the trading pairs available on Xtrabit:
BCH/AUD
BCH/BTC
BCH/EUR
BCH/HKD
BCH/USD
BTC/AUD
BTC/EUR
BTC/HKD
BTC/USD
ETH/AUD
ETH/BTC
ETH/EUR
ETH/HKD
ETH/USD
LTC/AUD
LTC/EUR
LTC/HKD
LTC/USD
XRP/AUD
XRP/USD
ZEC/AUD
ZEC/EUR
ZEC/HKD
ZEC/USD
4. High-quality customer service
Good customer service with quick response to requests is a time and money saving, especially in such a tense environment as trading. Changes to the certification system, deposits/bills, suggestions, and stock orders must be fast resolved through alternate.
5. Trade expenses
A low transaction fee while purchasing and selling will rather prevent margin outflows, mainly in case you are an everlasting trader. Popular exchanges such as Australian exchange Xtrabit are also offer bonuses to beginners and regular customers in the form of discounts and benefits. EU and Asia citizens can also enjoy the high-tech services of the Xtrabit cryptocurrency exchange.
6. Usability
The internal interface of the site should be easy to use even for an inexperienced trader, otherwise, the visitor will leave the page entangled in the inconvenient arrangement of information.
7. Payment methods
What payment methods can a customer use? Credit and debit card? What about PayPal, Skrill etc.? How long does a transaction take? Keep in mind that buying a cryptocurrency using a credit card usually requires identity verification. If there are limited payment options for traders, that crypto exchange cannot be used.
If we look at the Xtrabit cryptocurrency exchange, using this service you can exchange not only cryptocurrencies, but fiat money also. Moreover, you can easy move dollars and other currencies in and out of exchange. At Xtrabit are available fiat payments via bank in AUD, USD, EUR and HKD. The exchange is also adding convenient local payment options in several jurisdictions to enable customers to send and receive payments in local fiat currencies.
8. Verification requirements
Most Bitcoin buying and selling services, for example in the United States of America and the United Kingdom, require a certain type of identity verification for deposits and withdrawals. A few exchanges will allow you to stay nameless. Despite the fact that identity verification for a long time may seem inconvenient, but it protects the crypto exchange from all types of fraud and money laundering.
Choosing a good cryptocurrency exchange service requires a serious approach, since your income and the safety of your investments depend on it. Use only trustworthy services with a good reputation like Xtrabit and trade with pleasure!
