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Author Topic: Choosing best Crypto-Exchange? (For Newbie)  (Read 204 times)
so98nn
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October 14, 2021, 05:17:23 AM
 #21

More or less always go for the popular exchangers who has good number of users and volume which they can easily liquidate. The liquidity is power of any exchanger which defines how capable the exchanger is to sell and buy large transactions at once. This is very important because I have seen and traded on few of the exchangers because the coins were not listed anywhere else. The coin had so less volume and even the exchanger lacked number of users who would buy it.

This is why you will also see various exchanger shown in descending order on CMC. Depicts the power of exchanger for particular coins.

Well rest of the things are already mentioned by OP and others.
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October 14, 2021, 05:40:57 AM
 #22

I think the important thing that you need to concern about is the crypto exchange has KYC or not. If you are okay with KYC, you can choose the biggest exchange, have a reputation among the other exchanges, and have a good support system that will help their member when they have a problem. If you are not okay with KYC, you should search for the other crypto exchange that you want.

Almost all exchanges have 2FA and email verification to protect their members and the fee will vary between all exchanges. The fees themselves can be adjustable by using the lower fee from the coins and we can choose which coin has a low fee.

Recently I'm not ok with KYC but since those reputable exchange require to do that then I'd choose the best among with the current existing today since on the top 1 we can assure that our identity will be safe from any frauds around compare if you just go on small exchange which possibly can give us a problem since they can sell our identity on anywhere they want.  I know there are exchange have huge fee but actually I don't care about it since what matter the most for me is the security since hacking issue is rampant lately on crypto so its good that we will avoid that for choosing the best and not the less one.
I am also not okay with KYC but we can not do anything if we still want to use that exchange to trade. Actually, we have many options to trade. But unfortunately, the coin or token that we want to trade is not always available in all exchanges. Sometimes, that coin or token is listed on the major exchanges that need us to complete the KYC verification.

The security in the exchange will be our concern and we want to trade safely without thinking that the exchange will get into trouble in the future. We can minimize the huge fee by using the other coins that have a low fee so that will not be a matter to us because we can select it with the right.



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doremonchina
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October 14, 2021, 02:47:45 PM
 #23

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Coinbase and Coinbase Master, Binance (BEST FOR ALTCOINS), Money Application (BEST FOR Amateurs)
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