The first Cryptocurrency was developed in 2009 by an anonymous crypto enthusiast who goes by the name “Satoshi Nakamoto.” Since Bitcoin, the emergence of Altcoins showed a positive rate, and the world of crypto has established a name in the business world. Throughout the years, millions have shown interest in this field – from ordinary citizens to firm owners – and is now enjoying transactions of over 6,000 cryptos worldwide.
With the vast options to choose from, deciding which platform to entrust your career with is not an easy task; there are several factors that you should look out for to ensure that your platform alights with your current knowledge and career goals in Cryptocurrency. There are hundreds of platforms in the market, and each has unique features and benefits to offer, so newbies recognising this task as a challenge is a common scenario.
As mentioned, there is a long list of Cryptocurrency online platforms in the market, including the Bitcoin Era website, which is a good option to start trading. So, how do you tick off platforms on your list and ensure that you invest in the best? Fortunately, there are ways to solve this dilemma – we’ve compiled six important features that you should look for in exchange for a safe and successful path.
1. Security
The online world consists of scammers and hackers, so in choosing crypto, you better go for an option that can provide you with maximum security. Compared to the traditional currencies that involve banks and the government, the world of crypto is not constantly regulated and is not partnered with third-party agents, which opened the way for hackers and scammers to take advantage of this nature and steal people’s hard-earned investments.
With that being said, it’s important to choose a platform that offers high-end security to its users to avoid falling victim to these people and losing your profits instantly. Fortunately, the majority of the platforms take these precaution and risk seriously and offers features that prioritise the protection of their investor’s personal information and protect their assets from possible theft.
So when choosing a platform, make sure to take into consideration the security features it offers. Even better if the platform has two-factor authentication, encryption, and offline storage.
2. Available Cryptocurrencies
Each platform consists of a specific number of currencies for traders to utilise. Depending on your investing style, the number of available cryptocurrencies a platform holds matters. It’s wise to choose a platform that allows transactions of your chosen cryptos, though some platforms only offer a limited amount of currencies, while some have hundreds of options.
Most newbies in crypto often utilise the safest option like Bitcoin and other popular cryptos – and if this style fits you, then you should choose a bigger platform. Meanwhile, for investors – whether newbies or veterans – who are looking to diversify their investments, it’s a good idea to choose a platform that holds a wide selection of coins.
3. Transaction Fees
It’s normal for transactions to come with a fee, and the crypto world is not an exception to this. However, with the various platforms in the market, the competition increases and the risk or charges will most likely drop. So, you must find an exchange that offers lower transaction fees but has extra commission fees.
4. Customer Support
There are times when you will encounter issues and would need help or guidance from an expert or someone who knows everything about the platform. Your account would act as a storage of your hard-earned funds, so encountering issues involving your money can be alarming. Fortunately, some platforms offer 24/7 customer service to their users, so it’s wise to choose one. In addition, be sure to do some research and read up on reviews about a platform’s customer service to help you in the long run.
5. Availability
Choosing a platform that you can access when you’re always on the go is also essential. You should take into consideration the potential actions that you might take in the future and how they will affect your chosen platform. The good thing about this feature is that crypto platforms are regularly improving and expanding, so if you’re chosen exchange is not available in your location now, there’s a great chance that it will be in the next years, so stay updated.
6. User-Friendly Apps
While there are plenty of platforms in the market, not all have caught up to the advancement of technology. Some platforms offer mobile applications to their users for faster transactions and the chance to track and manage their crypto assets without needing to visit the platform’s website.
There are hundreds of crypto platforms in the market that gives you access to thousands of cryptocurrencies, just waiting for users to utilize them. With several numbers of factors to consider when choosing a platform, the most important feature that you should prioritize is security. With the rising cases of Cryptocurrency scams online, it’s important to choose a platform that keeps your account secured and protected from scams and thefts in the market.