What should be considered when choosing a crypto exchange?

Written By Eleman

How to Choose a Cryptocurrency Exchange? What should be considered when choosing a crypto currency? What are the points to be considered in Cryptocurrency Investment? A Few Facts and More on Top Cryptocurrency Practices and Exchanges for July 2022.

How to Choose a Cryptocurrency Exchange?

What should be considered when choosing a crypto exchange 2

Cryptocurrency exchanges allow you to buy, sell and trade cryptocurrencies. You cannot buy or sell digital assets without access to a cryptocurrency exchange. Still, there are some alternatives.

Cryptocurrency exchanges allow you to buy, sell and trade cryptocurrencies. You cannot buy or sell digital assets without access to a cryptocurrency exchange. Still, there are some alternatives.

That doesn’t mean any cryptocurrency exchange is good, though. If you’ve asked a seasoned crypto OG or trader to tell you a story about their first Bitcoin purchase, they will initially tell you that they spent a significant amount of money and time dealing with weak, unwise, or just expensive exchanges. It takes time to learn how to separate the wheat from the chaff, but you’ve come to the right article.

Things to consider when choosing a crypto exchange

You should consider many factors before jumping into any random exchange that someone recommends to you. The most important of these are currency security, liquidity, fees, history, markets and user experiences. Finding the best cryptocurrency exchange for you may take some time and effort, but it’s totally worth it.

An easy way to do this is to read expert reviews. Follow this link to see reviews and comparisons on the best exchanges.

It is also important to distinguish between crypto-to-crypto and crypto-to-fiat exchanges. Crypto-to-crypto exchanges only list cryptocurrency pairs, while fiat-to-crypto exchanges allow you to buy and sell cryptocurrencies with dollars, euros, pounds, yen and other currencies.

How to choose the best cryptocurrency exchange?

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  1. Security
  2. Technology
  3. Legal considerations
  4. Transparency
  5. Liquidity
  6. Fees
  7. User experience


Security is by far the most important element of an exchange. If an exchange is insecure, your money can be stolen and the other benefits it offers are worthless. No one wants to lose their money, so consider the following points as well.


  • Exchange web address must start with HTTPS. Avoid HTTP connections.
  • For login security, it should use two factor authentication (username and password are just a piece of information you have).
  • Client funds should be stored offline, in “cold wallets”.
  • Audit programs that monitor exchange activity 24/7, as well as SMS and e-mail alerts all give exchange customers additional security guarantees.
  • For maximum security, you may want to add your IP address or withdrawal wallet addresses to the whitelist.

Legal considerations:

  • It is recommended to use an exchange from the country you are in, as it can make it easier to comply with legal changes. However, it is also possible to use other exchanges in other countries. Note that some exchanges only support a limited number of countries.
  • Some exchanges can insure their funds, meaning you can be reimbursed if they lose your money.


  • Do the exchange owners disclose their headquarters address and members of their team?
  • Transparent exchanges also publish cold wallet addresses or help check their reserves in other ways, such as audit information.

In any case, do not leave your funds on the cryptocurrency exchange longer than necessary. Only hold funds needed for trading. Most exchanges are like an attractive woman to hackers. Since they need to keep many digital assets in one place, hackers come up with the most elaborate schemes to steal the funds of the exchange users. Therefore, it is better to store your bitcoins in your other private wallets.


The higher the trading volume, the more liquidity specific the exchange will be. Liquidity makes it possible to complete transactions faster, easier, without dealing with price fluctuations. Also, see if an exchange offers “locked in” pricing that guarantees the price even when the transaction is not instantaneous.
Note that liquidity may be different for different trading pairs. For example; It might be high for BTC/EUR but low for BTC/GBP. You can check the exchanges with the highest trading volumes here.


  • Compare all of an exchange’s commission fees. It is usually less than 1% per trade and may decrease as your trading volume increases.
  • Check withdrawal fees. Some exchanges are known to offer unreasonably high withdrawal fees for certain altcoins.
  • See also deposit fees. Many exchanges offer a quick and easy way to buy cryptocurrencies with a credit or debit card, but such purchases also incur a 5% or higher fee.

User experience:

  • If you value anonymity, you probably wouldn’t choose an exchange that requires you to reveal much about your identity;
  • Is the user interface simple and easy to use on both desktop and mobile?
  • What do other users say about the support (etc.) it provides for a particular exchange, advantages and disadvantages? Check community forums like Bitcoin Reddit or Bitcoin Forum.

What Should Be Considered When Investing in Cryptocurrency?

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Especially, investors who are new to crypto money should know the things to consider when investing in crypto money and it is very important to develop an idea of ​​​​how the crypto money world works before investing. Take the time to learn about the different cryptocurrencies on offer. You can do detailed research on our blog, where we have many comprehensive articles about cryptocurrencies. With hundreds of different coins and tokens available, it’s crucial to look beyond the biggest names like bitcoin, ether, and litecoin. Also, explore blockchain technology to understand how this aspect of the cryptocurrency world works.

Money Management
When it comes to digital money, many people think it’s all about reading charts and trading. Unlike these, one of the most important facts is to distribute our money to different cryptocurrencies by analyzing the risk factors that will occur.

Keep Your Emotions in Control
When investing in crypto, let your emotions take second place. By making rational and rational decisions, you can achieve the desired gains with the right move.

Don’t Buy Just Because It Has A Low Pricing
There are altcoins that are low priced and can be invested in. It is not right to invest in this cryptocurrency just because it is cheap, with the desire to buy low and sell high. It is necessary to conduct research and carefully examine the market.

Avoid FOMO
FOMO is known as the fear of losing. Moves that will make sudden decisions on the rise or fall of a crypto currency should be avoided. Decisions must be made with your feet on the ground.

Stop Loss and Set a Profit Target
It is a great tip to use on a financial investment as it will help you limit your losses from price pullbacks and get the most out of your cryptocurrency investments. These features are one of the features offered by the Icrypex Cryptocurrency exchange to its users.

Solid Cryptocurrency with High Transaction Volume
Cryptocurrency should be preferred in which it will be easier to buy and sell cryptocurrencies.

Recommended cryptocurrency exchanges and brokers

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Binance — the world’s largest cryptocurrency exchange with a wide variety of cryptocurrencies.
eToro — an ideal tool for a beginner investor interested in cryptocurrencies and traditional financial instruments.
BC Bitcoin — another quality brokerage service for new crypto investors who may want to deposit larger amounts.
Bitfinex — an exchange for experienced and institutional investors.
Kraken — is an excellent cryptocurrency exchange for beginners and experienced traders alike.
HitBTC — a crypto-to-crypto exchange with the largest selection of altcoins.
Bitstamp — a fiat-to-crypto exchange where you can buy Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP) and Bitcoin Cash (BCH) cryptocurrencies.
Bittrex—a versatile cryptocurrency exchange with many altcoin markets.
KuCoin — a beginner-friendly crypto exchange for coins and tokens.
Poloniex — a convenient crypto-asset exchange with over 60 assets for trading.
BitMex — is a contract trading platform that lets you trade cryptocurrency, futures and perpetual contracts.
Coinbase — a beginner-friendly gateway exchange that offers one of the fastest ways to buy cryptocurrencies.
Coinbase Pro — is a more advanced version of Coinbase for those who want to take their trading to another level.

Digital currencies have become undeniably more open for the typical American after their new ascent in prominence. A few business firms presently permit financial backers to trade digital forms of money right close by their stocks, common assets, and different ventures. A portion of the top digital money trades have made the interaction more easy to use than any other time in recent memory, particularly those with the best cryptographic money exchanging applications.

Putting resources into digital currencies may not be ideal for everybody, as they’re as yet a to some degree speculative venture. Whether they bring in cash in the long haul, financial backers can expect a thrill ride. All things considered, in the event that you put stock in the drawn out capability of cryptographic forms of money and have a genuinely high gamble resistance, holding some computerized cash as a drawn out venture checks out.

In light of that, here are probably the best crypto trades for July 2022. These incorporate specialists, trades, and applications you can use to begin fabricating your own digital currency portfolio today.

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