Did you know that Bitcoin was the first cryptocurrency launched to the public back in January of 2009? There are so many crypto trading platforms out there that it can be confusing if you are trying to figure out which one is worth trusting.
The key is to do your due diligence before deciding on one. We have put together this guide to share our top tips about how to know which trading platform is worth trusting.
Keep reading to learn more.
First and foremost, you want to make sure the platform is secure and trustworthy. Look for platforms that have a strong reputation in the industry and have been around for a while. You also have to check to see if they have any security features like two-factor authentication.
Two-factor authentication will give you more peace of mind that someone can’t access your account. We recommend checking referral program reviews to see what others are saying about certain platforms. When other people have been using the same platform for years without issues this is a good sign that they have a good track record.
Take a look at where they leave their money because if the money is always online it can lead to dealing with lost money. There are certain companies out there that actually keep most of their deposits in offline storage.
You also want to look at the fees the platform charges. Some will charge higher fees than others, so you want to do a cost-benefit analysis to determine if the fees are worth it based on the services they offer.
Also, take a look at the variety of cryptocurrencies available, especially if you want to have a diverse portfolio. If you are looking to invest in a specific currency, make sure they support it. There is no point in opting for a company that does not have the coins you are looking to buy or sell in the future.
Also, customer service is crucial. Look for platforms that offer 24/7 customer support and have a user-friendly interface that makes it easy to navigate and trade. See if they have phone support or live chats and make sure they have your preferred method of contacting them, as you never know when it will come in handy.
Something else you want to look at is how difficult it is to make a purchase. If it is not user-friendly then it might be best to opt for another option. When a platform is way too complicated for the average person to use it, can lead to losing money by accident. So make sure that whichever platform you choose is simple and straightforward.
Take your time to compare different platforms and consider all of the factors that are important to you before making a final decision. The last thing you want is to end up dealing with a company that is not secure or that ends up going bankrupt.
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