Bitcoin exchanges have a lot of significance when you are in search of BTC trading opportunities. These are digital marketplaces where Bitcoins can be sold or bought with altcoins or flat currencies. How to choose the right one? In the last few years, Bitcoin investments have increased a lot and you can find multiple online platforms for buying Bitcoin.
Bitcoin Era is one of the most trusted online platforms that offer simple and secured transaction process. For a new crypto investor it can be quite confusing, when it comes to making investments in the crypto market. So, they can choose this platform to create an account and invest in Bitcoin.
Factors to consider while you choose a Bitcoin exchange:
Security and safety features
Bitcoin is a digital or virtual currency and does not provide any guaranteed return. Trading in this type of currency is completely at your risk. In the absence of any financial institution, you have to be completely responsible for keeping of your money safe. With a good Bitcoin exchange, you can easily keep your money safe.
A Bitcoin exchange that is safe would most obviously have 24/7 wallet monitoring feature, SMS alert systems, email alert systems and PGP encrypted mails. Apart from that, you can store your Bitcoin in an online wallet and you can use your wallet to buy goods and services. You need to enter your private key to access your wallet. So it cannot be hacked by cyber attackers, and you can keep your investment safe.
In case of some encrypted wallets, there is no need to enter a unique code each time that you want to get an access. It is true that wallets have been designed to be safe from Trojans and hackers but it is recommended to keep just a small amount of Bitcoin or some other cryptocurrency in your wallet. You can also find some crypto or Bitcoin ATMs in your city from where you can exchange your Bitcoin into cash. But you need to bear a hefty transaction fee if your use such ATMs, and you can save this cost by using a reliable Bitcoin exchange.
Trading fees and options
You can find many different versions of cryptocurrencies in the market such as Bitcoin, IndusCoin, Altcoin etc. While looking for a Bitcoin exchange, you need to find out an exchange that offers such digital currencies. You can diversify your profile and invest in different crypto currencies.
It is possible to do trading between pairs and you have to find a platform that lets you do so. Once you are able to find it, you have to check the exchange liquidity for that pair. If the liquidity is high, there will be more chances for you to sell your coins without the need to slash prices like this trading platform.
You should not ignore the trading fee or the amount of money levied by Bitcoin exchanges in order to enable trading. Generally, some percentage of the trading amount is charged by exchanges as trading fee. You should check the amount of fees that is charged, but should keep in mind that low fees are often charged by fraudulent companies in order to attract gullible customers.
Supported Currencies
Bitcoin exchanges do not depend in any way on the location of users. Given the fact that anybody in the world can get access to digital currencies and you should check which types of currencies are supported by the exchange of your choice.
For instance, only dollars might be supported by some Bitcoin exchanges for payment purposes. Some of these exchanges accept credit card and back account, and you can directly link your account with your Crypto account to buy Bitcoin. Not only this, the Bitcoin trading pairs must also be according to your comfort level and convenience.
Always look for crypto exchanges that have support for all types of payment methods, such as bank transfers for withdrawals as well as payments, credit cards or debit cards.
You can find an exchange with maximum and minimum limits for deposits as well as withdrawal limits. The limits are kept constant in some exchanges although the others keep changing them based on transaction levels and activity of users. Some exchanges might also ask for legal documents as proof to set the limit. Before you go for a BTC exchange, you have to understand this aspect about limits in order to make an informed decision.
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