How to Choose the Best Cryptocurrency Exchange Platform
You can’t get started with crypto trading without choosing a cryptocurrency exchange. A crypto exchange is an online marketplace where you can buy, sell or trade cryptocurrencies.
Think of it as a stock exchange, except that there are no brokers who will transact on your behalf. Instead, you could trade directly on the exchange or platform of your choice.
There are two types of cryptocurrency exchange that you can choose from – fiat exchange and altcoin exchange. Fiat exchanges allow you to buy cryptocurrencies with fiat money such as dollars, euros, pounds, and the like using cash, a credit card, or a bank account.
Meanwhile, altcoin exchanges don’t let you transact through credit cards or banks and instead, require that you make a cryptocurrency deposit first, which you can later use to trade for other coins. Thus, some crypto users go through a fiat exchange first and deposit the cryptocurrency they purchased in an altcoin or pure cryptocurrency exchange.
Choosing a crypto exchange platform can be confusing and overwhelming. However, looking at the most important factors such as the ones described below could help simplify things for you.
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