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GUIDE Tips for Choosing a Crypto Exchange

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Suba

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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,

3. Reputation
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.

4. Security
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.

6. Fees
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.
 
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Niftyyem

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Those are wonderful tips! Personally, my choice of exchange site after determining the coins it accommodates is dependent firstly, on its reputation, security then, the fees. After those, the other tips.
 

Vladv26

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I recommend you to be aware of this two things.

1. Many exchange these days add fake volume to their statistics in order to make their exchange more popular and trusted. There was a study that proved that 95% of the volume from unregulated exchanges was fake. So make sure you are always using a regulated exchange.

2. Be aware of the fake reviews on the internet. Just because you see an exchange has 10.000 positive votes on trust pilot this doesn't mean it's trusted. Reviews can be bought easily by this big exchanges, they can just pay people to post fake reviews for them. Make sure you are reading reviews from trusted sources and document yourself about the history of that exchange
 
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