You might have some idea about bitcoin and other crypto currencies, and you can start investing your funds on such crypto engine. But, how would you invest your funds? In this case, you need to choose the best crypto or bitcoin exchange. For example, you can easily find and use the best exchange where you can buy and sell your coins in a hassle-free manner.
There are more than hundred bitcoin exchanges available and there is no authority available that can rank such exchanges according to their features. As crypto like Bitcoin is free from government control and regulations, there is no ranking authority available for such exchanges. But these bitcoin exchanges have some features, and they can charge a hefty transaction fee. Apart from that, there are also some fake platforms available which can steal your funds. So, you need to choose the best platform to keep your funds safe.
Choose the best bitcoin exchange:
Before you invest in crypto, you need to know the working models of such exchanges. You can find such exchanges web-based and mobile-apps based, and you can use their platforms to make transactions with bitcoin. To activate your crypto account, you need to complete your KYC and you can link your bank account with an exchange to buy bitcoin with your fiat money. You can even buy bitcoin with credit card and there are some exchanges available that accept credit cards as payment mode.
- Bitcoin Era is a popular exchange from where you can buy different types of tokens and coins. They have a Pro version which can be used by experienced traders. You can buy Bitcoin (BTC), Ethereum (ETH), XRP, DASH, DAI, Tether (USDT) and Dogecoin (DOGE) from this platform. But you need to choose a platform that is easy to understand because as a beginner, it is hard to understand the basics of such complicated navigation.
- You need to choose a platform or exchange that has less fee structure. For example, you can find some exchanges which do not charge any fee for buying bitcoin. On the other part, there are some exchanges that can charge you a fee for your bitcoin transactions, but they will not charge any fee for transferring your coins from your wallet to another. So, it depends on the trading method that you want to use. If you are a daily trader then you must choose an exchange that has no fee on buying and selling crypto.
- Make sure, you must choose an exchange that has mobile app facility. You can download their app from your android or iOS store at free of cost and you can store your coins in your app. You can transfer your coins from your wallet to another user’s wallet through your app and you can use your private keys to access your wallet. It is better to choose an exchange that has different types of apps like hardware-based, web-based and paper wallets.
- Without checking the security features of such exchanges, you should never invest your funds. Crypto is a digital assets and cybercriminals can easily hack your crypto account to seal your coins. So, you must check the security features and encryption of such exchanges before you choose.
- Check the mode of payment offered by such exchanges before you choose. For example, there are some governments that have made the crypto illegal and you cannot use your bank account or credit card issued by banks of those countries to transfer your funds to a crypto exchange. You can use UPI for such transactions. So, you must check whether it is legal in your state or not.
- Selection of the right coins and tokens is important to get a high return on your investment, and you should diversify your portfolio by adding different types of crypto currencies along with bitcoin. You must choose an exchange where such currencies and digital assets are available. You can use your crypto account to buy bitcoin and other digital assets, and you do not need to handle multiple accounts for the same.
So, now you can search online and choose the best exchange according to their reviews and features. Try to avoid exchanges that are using third party services.