How to Choose an Exchange in the Crypto Asset Market. Part 4 — Summary
We would like to sum up our series of articles about working in the crypto asset market and come up with some news and ideas.
As it was mentioned before your first step into the new world of cryptocurrencies is often through an exchange where buyers and sellers interact. According exchanges it is very important to indicate two important moments: liquidity and reliability. As you already know the more the turnover, the higher the liquidity. Trading volume is an indicator of exchange popularity. There are hundreds of exchanges in operation and new ones are popping up every day. To make sure the intention of the trading site to conduct an honest business, it is worth to look at the latest news and comments of its founders on legal and regulatory issues. Learn carefully an exchange where you want to buy and sell your cryptocurrencies and never invest more than you can afford to lose. Check the relevant policies, look into the reputation and confirm that there is enough security. The more secure exchanges charge the higher transaction rate.
Moreover, there are some principles for choosing an exchange in terms of convenience and compliance with your strategy such as number of trading pair, accessibility for new participants and users from other countries, amount of a commission, possibility of margin trading, quality and immediacy of the technical support and so on. Try to find out all your options and think about how you can spot a safe exchange for long term perspective. Finally, do not be afraid to sign-up for different exchanges and use them all. Exchanges are appeared and some of them promise perspectives to all participants of crypto market.
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