Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: MetaAttorney on July 20, 2024, 01:06:54 PM
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One of the most important things to do as a beginner trader is to carefully and meticulously select platforms to use and interact with.
Through my stay in the world of Cryptocurrency, I've experienced quite a number of security breaches, hacks, insolvency and all.
In a bid to well navigate this sphere and stand on the safer side there are certain features I want on my checklist to be ticked before I proceed with using any platform(s) some of which include;
1. Security
2. Proven Pedigree
3. Worthwhile Partnerships
4. A Proof Of Reserve and Commitment to compliance.
I'll truly appreciate if anyone can recommend an exchange with some of these features so I'd look it up and subsequently send some assets there for trading.
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I'll truly appreciate if anyone can recommend an exchange with some of these features so I'd look it up and subsequently send some assets there for trading.
If you mention security, then none.
But some recommended exchanges for day trading are https://www.coingecko.com/en/exchanges
For privacy: Bisq, Exch or you can visit https://kycnot.me/ to check for others.
For web3: https://www.coingecko.com/en/exchanges/decentralized
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Things like Security and Proof Of Reserve are difficult to prove. If the platform has not been hacked before, this does not mean that it is safe. If they sign a message to prove that they have 50000 bitcoin, it cannot be proven that they will not sell them the next day.
Measures such as the support team’s interaction, speed of response, their solutions to problems, and available liquidity are considered measures than Security and Proof of Reserve.