An Exchange Review From PointPay. How to Choose Your First Crypto Exchange?
Even though the crypto industry continues to revolutionize the entire investment world, some people still think it’s something intimidating. However, that’s not true. Everyone can start trading and investing in crypto in no time. The most important things that a future trader should consider are: reading crypto reviews, following the proper process, and choosing the cryptocurrency exchange that suits them.
PointPay experts will tell how to choose the right platform and what aspects should one consider. Let’s dig in to find out more!
Review the legal aspects
Cryptocurrency exchanges without licenses were once popular, but those times are over. People prefer their funds to be safe, secure and when there is no risk of becoming a victim of a crypto scam. Therefore, choosing an officially regulated exchange with good reviews is the first thing to do.
If the crypto exchange does not have a license, ensure you check the exchange’s reputation. If the platform has been working for a long time, has built transparent relationships with users, and is always ready to cover the loss, why not consider this option? However, always do your research to determine whether the exchange is a legitimate and secure platform — reading reviews might be helpful. For example, PointPay was founded in 2018 and hasn’t had any security or cryptocurrency scams issues.
Crypto exchange transparency review
Investors prefer to know the names of representatives and founders. They should check the company’s social networks and always look for up-to-date information. In the past, even large platforms kept a lot of information secret, but now everything has changed. Openness and transparency are key ingredients to building trust. When choosing your first crypto exchange, everything is the same.
Clarity is an important characteristic of a good user interface. A clear interface helps prevent user errors, makes the most important information obvious, and contributes to ease of learning and use. Crypto newbies might feel intimidated by exchanges with a complicated-looking interface with lots of charts and other information. On the contrary, a trading platform with an intuitive interface makes it easier to invest and trade. For example, visit the PointPay website. Even those who have no idea about cryptocurrencies can easily understand how to register and buy Bitcoin.
Liquidity is an important concept to deal with cryptocurrencies. Crypto investors need liquidity to trade at any time without moving the market too much. Good liquidity means an asset can be quickly and easily bought or sold without affecting its price.
A good crypto exchange should have reviews and a lot of users who regularly use the platform to trade their assets. If only a small number of orders are available, there might be no one willing to buy or sell crypto at the market price. Liquidity is also important during periods of high volatility. Also, don’t forget to check the token liquidity on CoinGecko and CoinMarketCap.
The need for a secure crypto exchange is evident if you want to hold your tokens on an exchange. In most cases, if a trading platform is hacked or someone steals coins, investors are left empty-handed.
For example, PointPay is a centralized cryptocurrency exchange. It doesn’t provide private keys to users due to security reasons. The security of the storage of funds and users’ data is the main priority for their functioning. Therefore, PointPay highly recommends enabling both types of 2FA verification in order to provide additional security for your account.
In the fast-moving crypto world, it can be hard to keep up. One area of particular complexity is the exchange fees. Some cryptocurrency exchanges hide fee structures in the fine print and confuse investors and traders with overlapping fee structures.
In contrast, PointPay provides relatively trading and withdrawal fees on the market. Moreover, depending on the number of PointPay tokens, extra discounts for takers and makers are also provided.
PointPay can become your pick for the best crypto exchange platform overall. It offers relatively low trading fees, a high level of security, the ability to buy cryptocurrency using debit and credit cards, and 24/7 customer support service. Crypto newbies and investors who prefer to trade on a highly secure platform will definitely appreciate what PointPay has to offer.
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