Modern crypto exchangers operating online facilitate the need to purchase and sell cryptocurrencies. Users especially appreciate the opportunity to initiate transactions anonymously because most services do not insist on identity verification. Nevertheless, one should be aware of the fact that transferring money to or from his bank account can still be tracked. If you are a fair person who has no intention to violate the laws, no problems may arise.
This article aims to tell every novice customer how to find a trustworthy cryptocurrency exchange service: keeping in mind that this business is rather easy to start and promote, the number of USA/EN exchangers available online is rapidly increasing.
Tips on picking the online crypto exchanger: main criteria
Most modern people are well aware of the opportunity to invest in altcoins. However, any trader will confirm the fact that your income largely depends on the exchange rates, so choosing a reliable exchange site is the key task. A good crypto exchanger helps you make money easily and without delays. However, beginners may get confused by the number of available exchange services because it is not so easy to pick the only one between them. Here are the criteria that experts recommend considering immediately:
1. Presence in the top-lists
You will be surprised by the number of services operating online, the task of which is to monitor the activity of crypto exchangers and review them. If a certain cryptocurrency exchange service appears on such lists (like Changelly), this is a superb sign. Still, you shouldn’t blindly rely on such reviews because there is always the possibility of deceiving you. Of course, reputable reviewers are trying to monitor suspicious activity on the sites recommended and remove unreliable services from the list. However, you are the only person responsible for your money.
2. Exchange fares and charges
The website’s charges are often included in the exchange rate, so you shouldn’t browse the exchanger’s site looking for the commission amount applied. It means that you will get exactly the amount you see when leaving your application. Indeed, the current rates and charges may fluctuate as they are linked to various cryptocurrency exchanges. The service operates in a way that allows you to see the best rates at the moment. However, you shouldn’t expect that today’s minimum rate on a certain platform will remain the most profitable tomorrow or the day after tomorrow. This is a market that has its own logic. Besides, not every platform provides a helpful cryptocurrency overview.
3. Supported altcoins and payment options
A significant thing for a regular customer is to know if the exchanger offers the payments interesting for him. So, after visiting the official site of the exchange, do not hesitate to check if it has the required payment options and supports the desired altcoins. It is better to give your preference to the sites which offer a better choice. It also happens that you may receive a larger profit from double exchange via the intermediate service than a direct one.
4. The customer support efficiency
It is a pity, but even the best exchangers may cause trouble for the clients. Sometimes, customers may face troubles associated with sending payments, getting a response, or changing the status of the application. In such situations, you may contact technical support service and ask for help in solving your problems. It is also crucial for the support service to work around the clock.
As you can see, reading reviews about the crypto exchange services you are going to use to buy cryptocurrency is helpful. However, stay conscious because positive or negative reviews can also be bought. Pay your attention to the responses of the responsible employees on the forums and if the concern of the client has been solved.
This is a good sign, which means that the service values its reputation.
Conclusion
Any transaction on the web requires your decent caution and awareness. After spending much time selecting a trustworthy exchanger, you will secure your payments. Don’t be naive and avoid scammers who attract new clients with low rates or commissions. Trying to save money can lead to a big loss. In this regard, it is better to choose several trustworthy exchangers and use them every time you need them.
Are you going to exchange cryptocurrency? What kind of service are you looking for? Leave your comments below.