Choosing Your First Crypto Exchange.
It is essential to understand the necessary requirements and criteria when choosing your first crypto exchange. Keep in mind that the facilities, which your first exchange will be offering are a guarantee of our quick and straightforward access to the huge world of crypto, full off outstanding features and technologies.
Fortunately, there are exchanges like IronX, which were designed to help newbie traders to enter the crypto market easily. For instance, IronX will enable both crypto and fiat funding options to ensure that new traders won’t need cryptocurrencies to begin exploring the crypto market.
Our expert team collected the main points you need to consider when choosing your first crypto exchange.
1. Regulatory Enforcement
Numerous crypto exchanges are mushrooming around the globe, without ensuring proper regulation and security to its clients, counting more on luck than on a solid backing. This causes many issues, which are preventing potential contributors from considering crypto as a proper solution for investment. We have seen crypto coins worth millions being stolen from exchanges in the past. It is essential to look for regulated crypto exchanges that have proper KYC (Know-Your-Customer) and AML (Anti-Money Laundering) procedures in place; exchanges that route money through protected channels.
2. Deep Liquidity
The lack of liquidity considered as the primary issue of the crypto market. To conquer this factor exchanges must be regulated and trusted by users. Consider the number of clients and listed coins when choosing your future exchange. Many exchanges has a lack of liquidity, which results in costly slippage for traders and low trade volumes.
3. Experienced Customer Support
There is a glaring need in professional customer support during your first steps in the world of crypto trading. Only experienced and regulated exchange can offer proper backing for you and ensure your satisfaction. Consider choosing exchange with solid advisory board and partners.
4. Easy Fiat-To-Crypto Conversion
Most exchanges do not allow new traders to purchase crypto with fiat money. This is a significant deterrent for new user entry in the crypto market, which results in lower adoption.
The IronX Exchange fulfils all these criteria and more. The exchange will facilitate greater trade volume through multi-party interconnectivity and interactions with traditional online trading. With features such as fixed transaction fees, access to multiple cryptocurrencies and easy fiat-to-crypto purchasing abilities, crypto trading will be made simple for everyone.
