Choosing the right crypto exchange to enter into cryptocurrency transactions. Here are some tips (considerations) for choosing a crypto exchange, including:
1. P2P or Broker Exchange There are two types of crypto exchanges, namely P2P and Broker Exchange.
P2P (Peer to Peer) exchange is an exchange that will bring together sellers and buyers directly through the platform. With this platform, users can freely choose which account to buy assets on. In addition, users are also free to search for prices that are in accordance with their budget and may get a lower price than buying on an exchange with a brokerage system. Examples of P2P exchanges are: paxful.com, bisq.network,
hodlhodl.com, bitmex.com, Bitpatt.com etc.
Broker Exchange or Regular exchange is a crypto trading place whose cryptocurrency price has been determined by the exchange itself. So, users don't have a variety of pricing options like the one on the peer to peer platform Remitano. These two types of exchanges have their respective advantages and the choice of P2P exchange or broker exchange depends entirely on your preferences and needs.
2. Location & Geographical Boundaries
Many crypto exchanges border a country, sometimes too
There are differences in services, so you need to pay attention, whether your country is included in the geographic restrictions of the exchange,
Knowing the reputation of an exchange is very important. To avoid things that we don't want, we really need to know the reputation of a crypto exchange. Because it is necessary to frequently read Cryptocurrency exchange reviews on moneygurus.net. if there is no review exchange that you want, you can ask the Question & Help.
In choosing an exchange, the thing that must be considered is security. Is two-factor authentication (2FA) security available.
Is there a Google authenticator, Authy and Yubikey.
5. Fiat Money Exchange
The availability of an exchange with the desired fiat money is one of the conveniences of doing crypto transactions. If you prefer local fiat money then you will be more suitable if you choose a crypto exchange from your country.
The fees vary depending on the platform, and are usually based on a percentage of each trade. Crypto withdrawal fees on a crypto exchange often differ for each crypto. Because it is important to know how much the fee is charged in each transaction so that your budget remains appropriate.
7. Available Crypto Assets
All exchanges provide well-known cryptos, but very rarely do less well-known cryptos available, therefore it is very important to know what cryptocurrencies and tokens are provided.