Even though everyone is talking about cryptocurrencies and block chains, people yet have to experience them, and we know the reason why this is happening. Investing your money in digital currencies can be scary, mainly because of the price. At one point, it can reach the peak, but at the next, you can lose everything. For traders who want to invest in coins, this entire process should be more accessible and many people are confused because this is a new form of investment. So, if you are decided to purchase your first coins, then we will tell you how to choose the best cryptocurrency exchange.
Locations is an essential part of this process because recently we have many exchanges emerging from the Asian market and many investors are warning traders about them. So, the best coin exchange comes down to where you are located. Considering that cryptocurrency trading is still new, there are only a couple of exchanges in most countries. You need to pay attention to regulation, and if you decide to register with some foreign exchange, then you might not be able to do much if some problem occurs. On the other hand, if your country doesn’t have a coin exchange, go for starts that have excellent regulation and financial laws. In addition to this, many exchanges will let you know during the sign-up process if for some reason you can use their services.
When it comes to selling and buying digital currencies, you need to be patient. This is a lengthy procedure and every time you have something new to learn. Take some time to review their policies and decide what method of payment you will use. This can save you a lot of money, the money you won’t have to waste on fees. Keep in mind that the easier it is to pay, the more significant costs you will encounter. The charge is calculated by the amount you use to pay for coins and usually that fee goes to miners. Conversion fees go between 0.5% up to 5%. In this case, the exchange makes money on your transaction. For example, if you buy coins using the CEX.IO, the conversion fee will be 3.5% if pay with a debit card, but if you pay using a bank account, then your fee is free.
For most investors who are new to cryptocurrency, the obvious choice would be bitcoin because it’s the most popular. Today, this digital currency represents a 47% of entire cryptocurrency market cap. But, before you invest your money in bitcoin, you should also research other currencies as well. Nowadays, there are a thousand of them; you just need to find your match. You can always narrow down your choice by comparing them, their trading history, value, volume and the price. Only, in this case, you will have to wait longer to achieve success, same as bitcoin traders did.