The platforms are numerous for selling and buying of these currencies. But, prior to taking a step into this industry one should always focus upon the following factors, discover more?
1. AUTHENCITY
If you are considering a service to exchange bitcoins on websites or some other chosen platform, you should gather some prior knowledge about the background of the company .about what their staff members are, their intended goals as well as their market experience and trustworthiness in relation to the exchange of crypto. You can decide if the data you’ve gathered regarding the business is useful or it isn’t. A Exchange platform is believed to be accountable to carry out error-free exchange and offers security against fraudulent transactions.
2. METHOD OF BUY
If you want to understand the marketplace, it is important to think about different exchange choices that are possible.indirect trading technique trading can be carried out in a direct peers in several countries. While there are different exchange rates available and each seller is able to set their own rates. While on the trading platform, these bitcoin trading platform provides a link between buyers and sellers .a fixed per person.
3. The method of payment
These platforms offer a variety different payment methods. There is the option of converting your coins in exchange for currency that is fiat If you’re unfamiliar with the business, or could exchange coins that you mined. It is possible to pay with a debit card, credit card, Visa card or directly via a bank account. It is also possible to utilize your bitcoin wallet make purchases and sales from companies that trade.
4. FEE STRUCTURE
The costs for conducting an exchange is different from different exchange across the world. The cost is usually what determines where the customers go since higher rates will mean higher security and fewer risks for buying and selling bitcoins. There are Bitcoins that charge just for selling bitcoins. However, purchases are free.
5. CUSTOMER SERVICE
Many crypto exchange companies have difficulty in respond to customer concerns in a timely manner. Most legitimate complaints tend to be in limbo .there is still need to settle customer complaints with regards to the exchange. If an exchange is unable to meet the requirements of FAQ department then there is certain to be a red flag respect to the reputation of the firm in relation to its customers.
6. SECURITY
The performance history of the exchange firm gives you information about whether this business has been previously been hacked or not. If the company has a history that has been previously hacked, then you are at risk of getting repeatedly hacked. If the hackers have not changed their software to avoid hackers from gaining access.
7. COIN EXCHANGE
Most bitcoin exchange company offer coins exchange into other currencies, but some are restricted to cryptocurrency, Litecoin, Ethereum. However, you must also search at more diverse options to ensure that there’s a broad field of investment that may be able to increase the value of your business whether it be purchasing or selling bitcoins.