Millions of people, from all over the world have started investing and buying stock in cryptocurrency.
It is not a surprise at all that cryptocurrency is becoming more and more popular, considering the potential of certain cryptocurrencies to spike in value and reach tens of thousands of dollars. But how do people buy and sell crypto? The best way to start with crypto trading is to consider the many Crypto Trading Sites.
Crypto Trading Sites are easy to use, beginner-friendly, and highly secure marketplaces where anyone can go to buy and sell cryptocurrencies. There are many websites which offer these services, so we hope this article can be helpful when choosing which Crypto Trading Site you want to start with. When starting out, these are just a few of the things to consider.
The Reputation of the Site
Of course, the first thing you have to consider before placing investments is the reputation of the trading site. This means checking out the number of users, reading some expert and user reviews, and looking over the website itself to get a feel for it.
One of the ways you can vet a site is by writing the website’s name, followed by the word scam. If the website is tagged as a scam, it is best to stay away.
Different Cryptocurrencies the Site Supports
After you’ve established the website is reputable, the next thing you will want to look into is the number of cryptocurrencies that the website supports. It is smart to invest in more than just one cryptocurrency, just so you can have a bit more security on the ever-fluctuating crypto market. So you will want to look into websites that offer more variety in cryptocurrency, rather than focus on just one or a few.
A site which offers variety when it comes to cryptocurrency is eToro. It offers a lot of choices in cryptocurrencies, including Bitcoin, Ethereum, Dash, Zcash, Ripple and many more. Not only do they offer a variety in the choices, but the website employs Artificial Intelligence technology to predict market fluctuations and volatility, ensuring young investors can get the best bang for their buck.
The Security the Site Provides
One of the main appeals of cryptocurrency is the higher dose of anonymity it provides, so of course, it is safe to say prospective investors are interested in their online security and anonymity. Most Trading Sites use state-of-the-art encryption technology in order to provide the safest and most secure service for their user base.
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The Fees of the Site
The point of cryptocurrency trading is, of course, to turn a profit. So you will want to look into the fees that the site demands. Most trading sites require relatively low fees, especially when compared to cryptocurrency ATMs, which take quite a large percentage, usually 15-20%.
Most trading sites offer low fees which, of course, means that you will see a higher profit, should you decide to use them.
FIAT Money the Site Accepts
Last, but not least, you should look into the FIAT money the Trading Site accepts. If you are a new investor, you will eventually want to convert your digital assets into cash, or vice versa, which means the trading site you are using should accept regular payment methods. This means that the more FIAT currencies the site accepts, the more freedom and flexibility you will have when you need to convert your assets.
If you are new to the Cryptocurrency world and would like to open an account we recommend Cex.io.
Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by cryptostation.co.uk. Readers should do their own research before investing funds.
Guest contributor - Alex Fox Cryptocurrency Enthusiast
Photo by Kanchanara on Unsplash
