Cryptocurrencies are high risk high reward scheme and yes, if your account is hacked then it is possible that you may end up losing all the coins from your account. That’s why it is very much important that you store your coins in a reliable place with utmost safety and security. Don’t just Google and create an account on the first website that pops up on your screen. In this article, we will discuss 5 tips to finding a good crypto marketplace. Obviously, there are too many online exchanges where you can buy, sell and trade cryptocurrencies but first see these following factors before even creating an account with them.
Tip #1: Check the website Reputation
This is the best way to find a decent online cryptocurrency exchange platform. If you are choosing any website for buying cryptocurrencies then first read all the reviews from real investors and it should be a well-known exchange trusted by all users. You may want to go to bitcointalk forum or Reddit to find out more information before opting in.
Tip #2: Checkout the Trading Fees
Most exchanges will totally rip you off with their trading fees. Some exchanges are taking over 5% trading fees which is extremely high and few are charging under 0.3% for trading fees. Also, checkout the deposit and withdrawal fees so that if you need to move your coins in the future then at least you know the withdrawal or deposit fee will not rip you of. So, unless these transaction fees are not reliable, you should avoid joining those exchanges.
Tip #3: Payment Processors
Next, you must check out what payment processors are accepted that particular coin exchange. Whether you can add credit cards and debit cards, if net banking is an option or not, may be paypal and other online payment methods and so on. If any coin exchange is limited to payment methods then it is not reliable and you should not use that because it causes a lot of inconvenience in the future. Also note that most exchanges will require you to verify the KYC before you can even deposit your first money. Purchasing cryptocurrencies with credit and debit cards are faster than buying with net banking. However, also check out the deposit and withdrawal fees for your convenience.
Tip #4: Check if 2-Step Verification is available
Like we mentioned earlier, security must be #1 priority before you choose any exchange. If any website is not offering 2-step verification feature then stay away from it because there is a high chance that your account will be surely hacked. But if 2-step verification is enabled then you can at least make sure that you will get a confirmation message before logging in. That way, your account will be secured from any intruder or hacker.
Tip #5: Social Media Interaction
You must check that an exchange must have verified Twitter, Facebook and Reddit page with active support staffs. Certainly, you will encounter many issues while using an exchange and if support is not available then it could take days and weeks to get resolved which could be very irritating. So, you must anticipate this and check if the website has an active social media accounts or not.
Now, you must be wondering how can you find any reliable exchange while keeping these factors? Well, do not worry, if you want to check all these facts from a single source then we will recommend to visit coin clarity where you can find all these information in a single place and more. You can check every single exchange from this website and the ratings given by users. Also, it has an active ICO checking calendar along with latest crypto currency news. All information is packed in one place and we will definitely recommend to check out ratings from coin clarity before signing up on any exchange.
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