THINGS TO CONSIDER BEFORE CHOOSING ANY CRYPTOCURRENCY

THINGS TO CONSIDER BEFORE CHOOSING ANY CRYPTOCURRENCY

Everyone from big enterprise owner to normal financial institutions is scrambling to learn about this cryptocurrency technology. They wanted to know how they can put money on this technology and about the best cryptocurrency to invest 2018. That means choosing a cryptocurrency exchange. There are many people who are interested in cryptocurrency but they don’t know about what are the things to consider before buying it. So below are the points which help you to purchase the best cryptocurrency.

Security-

It is very important for you to do the deep research on the platform from which you are interested in buying cryptocurrency. You have to make sure that they are fully legitimate and your investment is completely secure. There are many examples of fraud cases happen in previous years that warn you to choose an exchange platform that is completely under strict security protocol.

Best Cryptocurrency To Invest 2018
Best Cryptocurrency To Invest 2018

Ways of purchasing-

The method of purchasing varies from one platform to another. Some done exchanges by the means of the debit card or credit, some takes exchanges through Paypal and some solely use cryptocurrency for purchases. Some platforms process transactions instantly while some take time of days or weeks.

Supported tokens-

There are many cryptocurrencies that support the exchange process. Like most exchanges support Bitcoin and Ethereum. The different platform allows access to different cryptocurrencies.   

Types of cryptocurrency exchange-

There are three main ways by which cryptocurrency exchanges take place named as the trading platform, P2P, and broker. So it is very essential for you to know about them before buying a cryptocurrency exchange. Among the three trading platform is the most common and include Binance and coinbase. These are places where users can place, buy or sell orders for the cryptocurrency. P2P exchanges such as cointal connect buyers and sellers to interact directly. P2P also help to mitigate the network congestion to maintain a secure system for the exchange of cryptocurrencies. Cryptocurrencies brokers simply set prices and buyers can purchase cryptocurrencies through the platform.

Fee structure-

There are different fee structure for different platforms. Some exchanges offer discounts some not. Discounts are generally given at the time when exchanges own token is used to complete the transactions.

User interface and user experience-

User interface plays an important role in cryptocurrency exchange. Whether you are a seasoned cryptocurrency trader or buying bitcoin for the first time the good user interface and experience aids user actions on the exchange to be more informed and more efficient.     

All exchanges are different. There are the different way of their security precautions, regulating users, building their networks, and building a user experience.

About the Author