Cryptocurrencies are increasingly favored by the public, especially by Generation Z and millennials. The purchase of this digital asset must be done through trading or commonly called trading so that people need intermediaries to trade easily, namely through digital asset trading applications.
Through the community trading application, it will be easier to buy and sell digital assets. Cryptocurrency digital assets such as bitcoin have skyrocketed in price since their launch in 2009. So far, no one knows who Satoshi Nakamoto, the creator, and developer of Bitcoin, really is.
Exchanges have an important role in buying and selling crypto-assets or cryptocurrencies. He is the intermediary that connects buyers and sellers. The analogy, such as a brokerage company or securities in stock trading, for more information Gemini Fees vs Coinbase.
Well, in the world there are already many crypto exchanges. the two biggest ones that have huge trading volumes are Gemini vs Coinbase. But these companies, from the name alone, are already known to be global products.
Well, from the many exchanges, as an investor or potential investor, you can choose one or even more than one so that you can buy and sell crypto.
Crypto observer Vinsensius shares several tips for investors or potential investors in choosing a good exchange so that you as an investor or trader do not lose or lose in transactions.
1. The number of assets or crypto
Especially in World, there are not many crypto exchanges that offer various cryptocurrencies in their system. An exchange that provides a lot of cryptocurrencies is the best choice. That means the exchange in question has the experience and human and technological resources that are qualified to handle various cryptocurrencies such as Gemini Fees vs Coinbase.
“That doesn’t mean that an exchange that only offers two or four assets can be called bad. Relatively true,” said Vincent.
Liquidity in this case is the ease of buying and selling crypto/assets. A high level of liquidity means there are many buyers and sellers in it. “It also means that you have the opportunity to get good buying and selling prices and ensure faster transactions,” he said. For more information visit website.
Make sure the exchange you use uses a cold storage wallet. This type of wallet is technically offline because it is not connected to the internet network. This means hacking is very difficult to do.
Still related to security, according to Vinsen, a good exchange must have 2-factor authentication (2FA) feature, as a second layer of security after passwords when logging into accounts and making a withdrawal, and sending transactions.
In addition, it also has e-mail encryption and verification feature, which requires you to confirm every withdrawal or delivery transaction.
4. Customer service
The prompt and responsive interaction of the exchange manager is important. They must ensure that all problems faced by customers/investors are resolved quickly and accurately.
5. Transaction fees
The number of transaction fees must also be considered. “The range of 0.3% to 1% I think is still reasonable,” concluded Vincent, and here is the comparison of Gemini Fees vs Coinbase.