How to Choose Bitcoin Trading Platforms

Written by James Wilson
3 mins, 19 secs Read
Published On June 27, 2023

Cryptocurrencies are a big thing nowadays. With its rising popularity, more and more people are starting to trade in it and also using them as an investment. Here are some insights from the world of cryptocurrencies that might surprise you. 

  • There are over 295 million cryptocurrency users spread all across the globe.
  • Every week, there are 33 new cryptocurrencies getting created.
  • Binance users alone trade for over $14 billion in 24 hours. 

With these statistics, you can get an idea of how big of a deal it has become. With the rising demand for cryptocurrencies, demand for their trading platforms or exchange platforms is also thriving. But people don’t know where to start from and get consultation, that’s where we step in sign up for assistance like this app.

Also Read:- How to Use the Bitcoin Exchange

But difficulties arise for those new investors who want to get their hands in this new world of finance. Choosing the best and most suitable platform is a pain in their ears. 

 Therefore, to get you out of this misery, we will help you to get the best method for bitcoin crypto investment platforms from the internet. Follow the writing till the end to learn about the criteria for choosing a suitable exchange for yourself. 

How to Choose the Best Cryptocurrency Exchange

As mentioned earlier, there are quite a lot of criteria that you have to take care of while making a decision. Luckily, you do not have to roam here and there in search of those bullet points; we are here to serve you with the purpose. Follow the list given below and make a wise decision. 

Safety and Privacy

When it comes to the online world and privacy, it becomes extremely necessary to ensure your private data available on the web is secured and private. It is better to sign up on a platform that is highly reputable and well-known for its privacy policies. Since technology is getting more advanced day by day, hackers and online poachers are making your data more vulnerable. 

Also Read : Top 5 DEXs Available for Crypto Trading

It is considered that the harder it takes to create an account on a platform, the better it is. To make your digital assets safe, you can also go for cold wallets. Cold wallets are like vaults to keep your digital assets offline and safe. Some major examples of suitable cold wallets are Ledger Nano X, Trezor Model T, ELLIPAL Titan Bundle, Ledger Nano S, and ELLIPAL Titan Mini.

Trading Fees

Trading fees are a crucial part of the total earnings that a platform gets. But it can get heavy on your pockets if you ignore them. Each platform charges a certain amount or a certain percentage of trading fees for the users working on that platform. As you can see in the image given below, there are various platforms and their charges listed on them.

With this chart, it becomes easier to conclude that the highest fees taken by an exchange are WazirX and CoinSwitch Kuber. At the same time, the lowest and most cost-friendly candidate in this list is Bitbns. Similarly, you can surf through various platforms on the internet and get the best one for yourself. 

Number of Coins You Can Trade In

If you ask a successful investor or a trader, they will always give you advice to diversify your portfolio for a safer trading and investing experience. Why so? It is because since they are highly volatile in nature and can certainly hike or drop in no time, it becomes very dangerous to get your hard-earned money invested in just one option. 

Therefore, we suggest you get yourself signed up for a platform that can assist you in this like this app. Immediately Connect offers you a team of highly skilled account managers who can serve you with the purpose effectively and with minimum risk-bearing. 

Therefore, you should check and make sure of the number of options the exchange is offering you to get your money invested in. The more it offers, the better it is. Some of the biggest cryptocurrencies are, obviously, Bitcoin, Ethereum, and Tether. But you should go for those that are experiencing a hike in the charts. Primary examples of those currencies are ApeMax, Big Eyes, and PePe Coin (As of June 2023).

Regulation Compliances

Another aspect that should be on the list is the regulatory compliances and rules and regulations that an exchange comes with. As we know, when it comes to stock exchanges or crypto exchanges, everything in this world is highly secure and strict to the terms and conditions drafted. 

Therefore, not to get stuck in any misunderstanding, you should make sure that you are aware of all the conditions and regulations that are being put out by the exchange. Moreover, you can consult someone who can help you get aware of the volatile market and the risks involved in them.

Author: James Wilson