Published
5 years ago on
August 17, 2018
“A solid coin exchange is one that can perform the trades you need to be done without any hassle. That means that the exchange has access to many other traders also looking to deal. If you are trying to time the market or make a trade on the spot, you’ll need to find an exchange that is able to do that for you by finding a partner in a jiffy.â€Coin Variety We have touched upon this, but a variety of coins should be important too. Yes, you need to pick an exchange that offers your chosen asset, but why limit yourself to just one or two currencies, you’re much better off going for an exchange with a number of listings, in order to allow yourself to make more versatile trades:
“If you are a person who deals only in Bitcoin, you can probably deal with just about any exchange, as that is by far and away the most popular coin on the market. But if you have a portfolio with some of the so-called “alt-coins,†you’ll need an exchange that can handle trades with these coins. That is something you should find out before you agree upon an account.â€Fee Structure High costs and fees will make your trades less valuable. Therefore you need to find the balance. If you are trading a lot, less fees are a more attractive option, but, if you are holding and making few trades, you could look towards higher fee exchanges in return for better security (for example) though this is often hard to guarantee:
“Again, this may come down to how often you want to trade. If you are simply planning on parking your coins in an exchange, fees might not matter as much to you. On the other hand, if you want to make plentiful trades, you’ll want to locate an exchange that keeps fees per trade to a minimum. Otherwise, you will severely cut into your profits with the trading fees.â€With so many exchange platforms available, it can be hard to choose. Do your research and find which option might be best for your. Worst case scenario is you leave and make a new account elsewhere, so don’t panic, it’s not a vital decision, but it’s one that could save you a bit of money and a lot of time.
