Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: Oxumare on February 13, 2022, 12:47:01 PM
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Undoubtedly, everyone has an opinion on this matter. But I will list a few of them;
- SEcurity : Security also ranges from cold-hot wallet separation to two-factor authentication and regular audits.
- Audit : Crypto assets on the exchange must be subject to regular independent audits.
- Users : We should look at the opinions of users who use an exchange
- Transparency
- Customer support
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Undoubtedly, everyone has an opinion on this matter. But I will list a few of them;
- SEcurity : Security also ranges from cold-hot wallet separation to two-factor authentication and regular audits.
- Audit : Crypto assets on the exchange must be subject to regular independent audits.
- Users : We should look at the opinions of users who use an exchange
- Transparency
- Customer support
Absolutely I agree. In fact, these features should be the main features to look for in all projects. Especially security is the most important item for me. Recently it was Polkadex that passed these tests at least for me
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It depends where you live and what you want to do with the crypto you bought. Considering you have coinbase, maybe switch to coinbase pro. Otherwise binance is a good option for lower fees, but tends to block withdrawing certain crypto when they feel like it. Kraken and crypto dot com are great and growing, fees are a little higher but I like that I can take my crypto out of there platform without any issues.
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I agree with your criteria, with security being the most important one of all. It is also worth looking at the liquidity and the fees and commissions of a given exchange.
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If anybody newbto exchange then note If you want to invest millions you'll want to contact the OTC desk at one of the major exchanges. If it's small amounts you can buy with your bank account linked to Coinbase or Binance.
Next get yourself a Ledger or Trezor hardware wallet from an official vendor or directly from those two companies.
Once you have that I recommend setting up an account with Unchained capital and making a vault. This way you can have someone to help you with your self custody.
Don't give out your seed phrase to anyone ever. Your 12-24 eord seed phrase is the only way to secure your crypto. If someone gains access to this you can and will have your funds stolen.