10 key things to consider when choosing a Crypto exchange (Part 1)

[jennysmith]

Choosing the right cryptocurrency exchange may be one of the most important initial tasks an investor must complete. Below is a list of 10 important areas to look into when choosing an exchange.

1️⃣ KYC/AML: Some exchanges have Know Your Customer (KYC) and Anti-Money Laundering (AML) practices, requiring participants to submit personal information about themselves during account creation. These practices and requirements vary from exchange to exchange.

2️⃣ Reputation: Since the cryptocurrency is still largely a new industry, it is important to be aware of the reputation of each exchange of interest. Looking into each platform’s terms and conditions can be helpful, noting anything that is alarming or out of place.

3️⃣ Security: Check to see if the exchange offers Two-Factor Authentication (2FA). If not, then the exchange may not be acceptable by security today’s standards.

4️⃣ Insurance Fund: Certain exchanges have funds in place to compensate customers under specific circumstances.

5️⃣ Fiat Exchange: Checking to see which banks exchanges work with, as well as what types of fiat currencies are tradable, may be necessary.

Follow to see other important areas in my next post.

[Newton]

In turn, I can also say that when choosing an exchanger, you should not pay attention to a very low rate, low commission or additional bonuses, all this can also indicate a fake exchanger.

[zombieroadie]

Or in other words, you need to choose the exchange from the top 10 and then you will not have any problems