Whether you are a trader, miner, or just a crypto enthusiast, at some point you might want to try your hand with another cryptocurrency. It might be the curiosity that drives you to do that or the need to expand your trading or mining portfolio. A great way to do that would be to use a cryptocurrency exchange. Why, would you ask? Well, it is fast, easy, and doesn’t require you to start your own mining operation to get some crypto.
How to choose the service that you would like the best? All cryptocurrency operations are final, so you need to be extra careful with your assets. That’s where the Changelly team comes in! We’ve compiled a list of characteristics that you can use to find a cryptocurrency exchange that will offer the best possible benefits to you. Let’s take a look, shall we?#1. Reputation
While the crypto world is all about transactions and systems that work without trust, reputation is what makes or breaks the platform. As any sensible crypto owner does research before trusting a platform with their assets, they should look into what other people think about the exchange in question. Since the crypto world is rather novel, at least in comparison to other financial markets, it is important to know who is who on the scene.
While the research doesn’t eliminate the possibility of being scammed, it helps to minimize it. A good idea would be to search the name of the cryptocurrency exchange with a ‘scam’ addition. Reddit crypto-related communities are usually a golden trove of information, as long as you can filter it. And, of course, crypto-related blogs often talk about the best exchanges. In fact, we at Changelly did a piece on the biggest cryptocurrency exchanges of 2019, so you can start here.#2. Security
Now, that you are sure that the exchange wouldn’t disappear with your hard-earned crypto, it is time to make sure that others wouldn’t do it either. That’s where the security of the platform comes in. There ...