You have decided to start trading cryptocurrency - you have studied the market and trends, you have read dozens of analytical articles, you have chosen your favorite, and you seem ready to start trading. But there is one more obstacle left on the way to this goal: it is not clear how to choose a cryptocurrency exchange. The variety of exchanges makes me dizzy.
What criteria should be followed to choose a South Africa cryptocurrency exchange and start an interesting and profitable business:
- To study information about exchanges on the Internet in advance.
- To study information in mass media, it is desirable to use foreign sources.
- To choose an exchange with a longer and more reliable history of commerce.
- Learn about payment methods, as well as how to deposit and withdraw money. Because some exchanges may not work with Visa and MasterCard. Swift transfers may have problems with the purpose of the payment.
- Each exchange has a commission fee, which varies.
- Currency and cryptocurrency exchange rates can be different on different exchanges.
- It is worth choosing the exchange rate that is more profitable for you.
- Experienced cryptocurrency traders work with several exchanges simultaneously.
- During the registration of a trading account, it is obligatory to go through the verification procedure, that is, to confirm your personal data. Such measures help to neutralize fraud.
- It is better not to stop your choice on the exchange, which has registration in offshore zones.
Having thoroughly studied all the criteria and having applied them to various types of crypto exchange, we recommend paying attention to the IQ Option broker.