What to Look for When Choosing an Exchange for Trading Cryptocurrency?


When a novice trader comes to the crypto market, one may need guidance because of the variety of services offering trading options and tools. Some crypto platforms are well-known and have millions of users worldwide; others are small and less known. At the same time, some crypto exchanges may need help comprehending on the first try. In this article, we would like to speak about reliable crypto platforms that provide a full range of tools for trade in crypto and how to assess them.

Exchange for Trading Cryptocurrency

What Must Be Considered When Picking an Exchange for Trading Cryptocurrency?

Here is the shortlist for you to check out a trading platform:

  1. How many crypto assets are supported
  2. What is the fee, and is it fixed
  3. Is there customer support
  4. Is there a crypto calculator
  5. Is there a mobile app
  6. Is the exchange secure? Does it require KYC
  7. What is the daily trade volume on the platform
  8. Is its interface easy to navigate?

If we analyse crypto exchanges by these matters, we can say the best platforms are Binance, FTX, WhiteBIT, Huobi, OKEx, eToro, and Coinbase. They all belong to the centralized type, which means they:

  • Ensure the high level of users’ funds’ safety
  • Provide a wide range of digital assets
  • Offer even the most advanced trading tools
  • Have customer support
  • Have a large trade volume.

Regarding the ease of use, we would like to underline the WhiteBIT exchange. This is an incredibly simple service for a beginner user that provides the full range of tools for trading along with robust security for users’ funds and data. On WhiteBIT, you can buy crypto with real money and convert them back to dollars and withdraw in a matter of minutes. The exchange stores 96% of user funds offline and only 6% in circulation. Every client has two-factor authentication for one’s account. The customer support chat works 24/7.

For more information about the WhiteBIT exchange, visit its official website and blog.

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