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Factors to consider while choosing the cryptocurrency exchange

Posted on : October 29, 2018

Thecryptocurrency fever has just begun. More and more people are drawn towards this incredible technology due to the amount of money that can be made by investing in it. The most reliable method for you to invest in cryptocurrencies is by buying them on secure cryptocurrency exchange online.

However, there are hundreds of cryptocurrency exchanges available currently. Choosing the right cryptocurrency exchange can make a great difference to your journey in the crypto world. In this article, we will talk about some of the must have cryptocurrency exchange features.

Must have cryptocurrency exchange features:

Security
When you buy any cryptocurrency on a particular exchange, you are actually investing your hard earned money on a virtual cryptocurrency. You would obviously want your money to be in safe hands. Thus, picking an exchange that is widely known for the high level of security it offers is the only way to ensure that your money is in safe hands.

There have been several incidents wherein the exchanges were hacked and many people ended up losing their money. One of the most devastating hacks till date was the hack of Mt. Gox in 2013. This resulted in the exchange going bankrupt and people losing their money. Thus, you should always do your research and pick an exchange that has implemented strong security measures. One such example is upcoming Digital Ticks Exchange which has built it multiple layers of security to keep the users funds secured.

Available payment methods

There are many cryptocurrency exchanges out there. However, most of these exchanges do not support fiat currencies. Therefore, the only way for you to get your hands on cryptocurrency is by converting fiat currency into cryptocurrency. It becomes important for this very reason that you make sure that the exchange you pick supports fiat currencies.

Most crypto exchanges that do accept fiat currencies do not support instant buying using a debit/credit card. If you want to enjoy the feature of buying cryptocurrency instantly, choose an exchange such as Coinbase that is not only known for its amazing security but also for the feature of instant buying using credit cards.

Token support

When you start your journey into the crypto world, you would want to stick to some of the basic and popular cryptocurrencies such as Bitcoin and Ethereum. However, as time goes by, you end up wanting to explore more cryptocurrencies. In this case, you should choose a reliable cryptocurrency trading platform that supports a wide range of coins/tokens. Thus, you will have access to various cryptocurrency in one single place.

Fee structure

All cryptocurrency exchanges charge you a certain amount of transaction fee for processing your buying/selling trade. This trading fee is extremely low. However, as you start placing more orders on a daily basis, this fee ends up burning a big hole in your pocket.

While there is no way around paying the trading fee, you can reduce the amount of fee you eventually end up paying by choosing exchanges that charge you less fee. For example, Digital Ticks is providing free trading to all their registered users for the first few months of their going live.

User interface

An exchange that offers a great user interface always wins the vote among the masses. By choosing such an exchange, you can avoid all the unnecessary confusion while navigating through the different features an exchange offers.

One such exchange which adheres to all the above mentioned factors is the DigitalTicks exchange. It has both basic and advanced trading features making it suitable for both new and professional traders. They also have multiple layers of security to keep your funds safe.

Conclusion

Choosing the right cryptocurrency exchange platform to buy cryptocurrency is a vital part of your cryptocurrency trading journey. So make sure you take your time, do ample research and only then choose a crypto exchange that you would want to use.