Currently there is a lot of talk about cryptocurrencies even President Trump created his own Token $TRUMP . With all this information you have decided to get started in this ecosystem but before buying your first Crypto you must ask yourself this essential question: On which reliable and secure platform can I buy my first Bitcoins?? More than 80% of investors neglect this aspect and then they end up with several accounts on different platforms. In this article we will discover 6 criteria for choosing your platform by talking about the security on the latter until its customer service. The fourth criterion and the fifth are the most important đŻ
There are two types of platforms in this ecosystem for buying and selling your assets: we have the DEX, these are decentralized platforms where the buying and selling mechanism is a bit complicated because you will have to worry about gas fees depending on the Blockchain and many other things, whereas with the second type of Platforms (CEX), which are entities that manage your assets, you don't need to really understand everything, and as a beginner, this is the best platform for you...
Now that you understand this, let's get to the heart of the matter with our 6 criteria for choosing your cryptocurrency exchange platform...
1. Security protocol
The security of your assets is the fact that the platform can reassure you that your assets are not accessible to hacking. Your platform must have 90% of its customers' assets on Cloud Wallet, this is a type of wallet that is not connected to the Internet to avoid hacking, but also additional security is required at your level such as double authenticator or security keys that you must activate yourself. Your security is very important because your money is important, so also help the platforms to secure your assets with you.
2. Worldwide Availability
It's the fact that your platform is present in all countries with the necessary regulations. There are certain countries where certain platform products are restricted. So check the <<FAQ>> which is on the platform's website so as not to have a bad experience with this platform...
3. Educational Materials
The platform provides beginners with educational content that will help them understand the ecosystem and also the use of their example application with Binance Academy.
This allows you to learn for free in this ecosystem because learning is paramount.
4. Available Coins and Trading Pairs
The platform must be able to offer you a multitude of cryptos that you can buy. Imagine one evening you hear about a project you find interesting after of course after having done your own research and the token is not listed on your platform you will be forced to look elsewhere. And also the trading pairs that a token is exchangeable with many essential cryptos for example BTC / USDT, BTC / ETH or even BTC / BNB
5. Liquidity
It's the ease of buying and selling your crypto assets without affecting the asset's price. To check liquidity on a cryptocurrency exchange, you should look at:
đ Daily transaction volume
đ The depth of the order book
đ Number of active traders
đ Buyer-seller spread
6. Service client
The platform's ability to assist you when you have a problem with the operation of a product or for a particular case, this is how your platform's customer service should be:
đ Friendly and empathetic responses
đ Personalized and Responsive Help
đ 24/7 availability
Bonus: You also have to consider the fees on the platforms. Favor platforms that have their own token, for example on Binance with BNB the fees are between 0.1% and 0.07% for BNB Holders.
Choosing the right cryptocurrency exchange platform is essential for getting started. Take the time to compare different options based on your priorities. A platform with affordable fees, robust security, and high liquidity will help you get started in the crypto world with confidence.
Which platforms do you use to trade your cryptos? Share your experiences in the comments! âŹïž
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