For a smart investor interested in trading Crypto, the very first question that runs through your mind might be where to start? or how to begin? Well, interestingly the very first step will be to find a crypto trading platform that is suitable and works well for your type of investment because choosing the wrong platform simply ruins all your efforts, time and eventual loss of money.
To arrive at a conclusion on which is the right crypto trading platform for you, you need to start by understanding your goals for investment, if it’s gonna be long term or short term. Here are a few tips to finding a reliable platform to trade your crypto investment.
When looking for a reliable platform to trade crypto, consider the reputation of the trading platform, because this type of trading is still relatively new and as such there are people that have been scammed of their money.
You can tell a reputable exchange platform by searching online, reading reviews of what other people are saying about the platform. Do not also forget to go through the terms and conditions of the platform to know how the exchange works, because most times new entrants tend to neglect this aspect.
Worthy of note is that each platform will offer different asset prices, which is oftentimes influenced by the location of such participants. For example China based platforms will offer greater volume than any other places. With such being said, note that discrepancies in asset prices are a good way of identifying a platform that is prone to volume loss and low liquidity.
Having an insurance fund in place is very important and it is meant to cushion investors under certain conditions. Trading is made easier knowing that you are at least protected in certain market conditions. This is one tip to put into consideration along the line of inquiring for a platform to trade crypto.
Security features are an important feature to any crypto trading platform. Confirm two factor authentication on the platform, because it is the accepted security level under modern standards. If two factor authentication is lacking on any crypto trading platform, then it is advisable to avoid it, but if the said platform features two authentication factors, you might need to take your decision a step further to analyze for compatibility.
Most crypto trading platforms you come across will charge a small fee for each trade. So keep in mind that the fees are not standard and one platform may surely charge better, lesser or more than another. Fees are an important consideration to traders as they are often charged on a percentage per-trade basis.
Exzie is currently a BEP20 cryptocurrency however, the tech team is working on its own Blockchain to enable the creation of smart contracts for the entertainment industry.
In conclusion, a better way to find a reliable platform to trade your crypto investment is based on trader goals and what they are hoping or looking to achieve.