Chapter 3: Get familiar with Crypto Platforms

In this third article of our series, Crypto Fundamentals, we will discover that there are a multitude of platforms on the web and you need to pay attention to their functionalities, the advantages and the disadvantages of using each one of them, as well as the differences between them.

So, you have learned from the first article of this series a thing or two about transactions, blockchain technology, and cryptocurrencies, you explored the different wallet types in the second chapter, and now, the next step would be to learn where you can use that information.

In order to start trading, you will need to choose an exchange platform. Only by doing a simple search on Google, we will encounter many websites that are supposed to do the job. So, how do you know which platform will fit your style best? Or which one offers you the best experience? What about the options they provide? Are they all the same? Let’s find out!

First, we have to differentiate between platforms that can only be used for buying, selling, and trading cryptocurrencies, and platforms that can be used to acquire NFTs.

What crypto trading/exchange platforms out there have to offer

There are many platforms out there and more are popping up all the time. But are they all equal in terms of what they can do, or, more specifically, what you can do with them? They most certainly are not.

There are many aspects that you should consider when you choose your crypto exchange platform. Of course, the number one thing to look out for is security. Not all platforms are as secure as they should be, so it’s important to research and read their whitepapers, especially the chapter on security measures.

Another essential aspect is the number of features they offer. Can you only buy and sell crypto, or are there other things you can do on that platform? Is there staking, swapping, borrowing/lending, and most importantly, are there educational features to help you get accustomed to the platform itself? It may be the best crypto exchange platform in the Universe, but if you can’t use it, what good does that do? So keep all these things in mind when searching for the best solution for you.

NFT listing platforms

If you are new to crypto, you might be wondering what an NFT is. You should check out our other articles on the subject, which go into more detail, but we’ll sum it up here as well.

NFT stands for Non-Fungible tokens. This means that the tokens are one-of-a-kind, unique. By buying an NFT, you now have ownership over that piece. Of course, the artist or creator still has its copyright. It is very much like buying paintings or sculptures or any other form of art, just now it is digital. And just like paintings only have one original, so do NFTs. You can exchange one Bitcoin with another because they have the exact same value, but there can be no equivalence in the value of two NFTs simply because there is only one original.

If you exchanged two artworks, for example, The Mona Lisa with The Starry Night, you wouldn’t have the same value as they cannot be compared, the two are very differently perceived. In the beginning, NFTs were created as part of the Ethereum blockchain, so they were exchanged via Ether, and most platforms use this cryptocurrency for trading, but, theoretically, any cryptocurrency can be good, depending on which cryptocurrencies the platform accepts.

There are many platforms for listing, buying, selling, and trading NFTs, but it’s important that you look out for security and quality in the case of NFT platforms, as well as crypto exchanges. Although, wouldn’t it be great to have everything in one place? Security, multiple helpful features, crypto trading, and NFT exchange?

IXFI — The best of both worlds

At IXFI, we believe that you can have your cake and eat it too.

On our platform, you will not only have access to all the features offered by the leading crypto trading platforms, but you will be able to sell, buy and even trade NFTs through our innovative Barter Exchange (NFT 2.0) Program.

Developed by experienced entrepreneurs in the crypto and blockchain space, designed to be a complete alternative to the classic banking system that we currently have, IXFI is a very user-friendly platform, offering a very favorable rate for exchanges. It is safe and very easy to use, even for beginners in crypto. Here you can buy, swap, convert, trade crypto, or check the market to see what’s going on in the crypto world. Automated transactions can be done via IXFI, based on real-time reports on the market.

Term deposits are a thing too, similar to the classic banking system, through which users can save up and grow their passive income. IXFI also provides customer service support available 24/7. Also, it is important to be noted that we are working on developing a system through which users can borrow crypto, using as collateral their current assets, as well as developing a card solution through which payments can be done directly with crypto, everywhere in the world.

So, now that you have a basic grasp of where you can take your crypto and use it, weigh your options carefully and choose what suits your needs best, be it for exchanging crypto or selling/buying NFTs.

IXFI aims for the most complete experience, and if you are just getting started, you should try it out today.