Cryptocurrency exchanges are more popular today than ever before, as over time, many people realize that investing in digital currency is actually profitable. For reference: in November 2021, the value of bitcoin broke a historic high – on the 9th the value of the coin crossed the mark of $68 thousand; the day before, on the 8th, the price of the most popular cryptocurrency in the world reached $66.3 thousand. Also, making a comparison with the dollar 0.01 eth today is $17.40, which shows cryptocurrency coin only from the good side.
In a word, a reasonable investment in electronic money can bring a considerable income, the main thing is to find a bitcoin exchanger that suits all parameters.
Exchange traders and exchangers – the major differences
Often those who are just getting acquainted with the cryptocurrency world confuse the concepts of exchange and exchanger. The main difference is that the exchange gives a notably higher speed of transaction since there is no need to participate in the bidding. In addition, according to some users, in some cases, the crypto exchanger offers a more favorable rate for specific destinations.
As for the commission on the withdrawal to the card, it is often significantly higher at the exchange than at the exchanger. Another undeniable plus of the exchanger is the ability to buy/sell cryptocurrency for cash. Thus, if you need to exchange digital money, for example, 0.5 eth for cash, you do not need to look for sellers on special platforms (experts say that it is not always safe), it is enough to contact the operator of the exchanger and agree on the terms of the transaction.
Criteria for choosing an exchange office
If you are looking for a point where you can exchange bitcoins, first you need to make a list of criteria that it must meet. Below is a “universal” list of the wishes that are often presented to exchangers:
- Good reputation. The reputation of an exchange service plays a crucial role, so be sure to study the reviews and reviews dedicated to the web service. Experts also recommend looking at independent ratings of crypto exchangers: you can find a lot of useful information in them, which will allow you to make the right choice.
- How long the exchanger has been working? There is an opinion that it is better to choose exchangers that have been working for quite a long time. Of course, you should not exclude the points, which have been opened recently, from your list, but you should still be very careful with them.
- Currency reserve and the choice of payment directions. When it comes to currency reserve and the number of payment destinations, the “the more, the better” rule works. In most cases, crypto investors need to perform various transactions, not just exchange bitcoins. Therefore, it is believed that if a point is ready to offer maximum opportunities, it will always be a priority.
- Timetable and technical support. Working hours and the quality of technical support play a huge role when choosing an exchanger. For the majority of users, it is extremely important to be able to make transactions at any convenient time and receive timely help from the support team.
- Beneficial loyalty program. A loyalty program is very beneficial for those who use the exchanger on a regular basis because every standard operation with cryptocurrency can bring additional income.
Of course, the list of requirements for the exchange office can be much wider. We have cited only those points that are relied on by most coin holders who choose a cryptocurrency exchanger.