- Bitcoin Blockchain
- Apr 28
- 2 mins read
Trusting Blockchain exchange
With every passing week, the world’s interest in Cryptocurrencies is multiplying at a staggering rate. Whether it’s bitcoin, ether, or any any other cryptocurrency on the block – people around the world own and trade cryptocurrencies. To make the trading accessible to the general public, we’ve several cryptocurrency exchanges on the world wide web. Through these exchanges, anyone can buy, sell, or exchange cryptocurrencies either with other digital-based currencies or with traditional currency such as rupee or US dollar.
Types of Exchanges
There are three categories of cryptocurrency exchanges. They’re as follows:
Brokers – Through these brokers, anyone can go and buy the desired cryptocurrency at a preset price. Most of these cryptocurrency brokers are similar in function as foreign currency exchanges.
Platforms for Trading – These platforms specialize in connecting buyers and sellers. For every transaction that takes place through the platform, they charge a fee — which is also how they make money.
Direct Trading – The way direct trading differs from the other two is that there’s no fixed price. The seller decides the amount, and the buyers have to determine if they want to buy or negotiate for any particular cryptocurrency. Direct trading is usually peer-to-peer.
What are the key attributes to look at while deciding to Trust a blockchain exchange?
The meteoric rise of bitcoin has also contributed to a significant increase in con-artists and exchanges which are mostly scams. So, before you decide to put your hard-earned money to buy cryptocurrencies — it is crucial to do your research. Below are the three things to know about an exchange before trusting them.
Reputation: In the age of the Internet, it’s not too hard to find reputable reviews about anything — including blockchain exchanges. Right from forums to commercially reviewed websites, you’ll find loads of information that’ll make it easier for you to decide whether an exchange is a right fit for you or not.
Fees: Before you even think about joining an exchange, do make sure you’re well-aware of all forms of costs that the exchange charges. The fee-model should include comprehensive details regarding withdrawal, deposit, as well as transactional fees. Compare it with other exchanges and then make an informed decision.
Verification systems: Any exchange worth its salt will have strong fortification in the form user verifications and securities. While the exhaustiveness of the verification might seem annoying while registering, it’ll protect your cryptocurrency and money from all sorts of scams.
Some well-known and reputable exchanges
We’ll make it even easier for you. Based on our research and user reviews, we’re going to tell you our favorite two blockchain exchanges that you can trust without worry.
Coinsquare: The first thing you should know about coinsquare is that it’s built on the same technology as the New York Stock Exchange. Yes, that’s right. According to their website, they manage their ledger at least 2346 times in a single day to ensure security. Reputable and secured, Coinsquare is a popular choice for both crypto-veterans and beginners alike.
Coinbase: Not only is Coinbase backed by some of the world’s best investors, but it’s also trusted as an exchange by millions already. One of the key features of coinbase is that coinbase insurance covers the stored currency. So, there’s that added layer of security. There’s a digital wallet also available as a mobile platform through which users purchase bitcoin, ether, and even litecoin.
Related Posts
Finding work in Blockchain Space
As Blockchain technology is evolving while infiltrating various sectors to optimise business processes, the career prospects in the Blockchain sphere are excellent. Demand for certified individuals in Blockchain has continued to grow exponentially. The Blockchain…
- Oct 10
- 3 mins read
Modernizing eCommerce with Blockchain
Today world is witnessing the advent of blockchain technology for providing solutions to many of the problems faced by individuals in various sectors. Blockchain technology has proved to be a boon in optimising processes in…
- Sep 25
- 2 mins read
Recent Posts
Recent Comments
Archives
Categories
Subscribe to Solvemint
I want the latest update in...
Latest Post
RecordsKeeper Token Distribution Cancellation Announcement
- November 16, 2018
- 2 mins read
Finding work in Blockchain Space
- October 10, 2018
- 3 mins read
Digital Identity Platform on RecordsKeeper
- October 1, 2018
- 3 mins read
How RecordsKeeper Blockchain Can Prove to be a Boon for the Telecom Industry?
- September 27, 2018
- 2 mins read