There are numerous platforms available for today’s aspiring cryptocurrency trader. But how do you know which one to choose? Do you go for one of the biggest players in the field, or select a smaller exchange with some nice perks? And how do you know if you can really trust them with your cryptocurrency assets?
Trust is a major concern when it comes to cryptocurrency exchanges. There are a few things that could go wrong, and we’ve seen many of them play out over the last few years:
- Exchanges shut down for regulatory non-compliance
- Exchanges revealed to be Ponzi schemes or other forms of scam
- The extremely high-profile case of Quadriga CX, where the CEO’s death resulted in the loss of access to the funds stored on the exchange
- Loss of funds due to hacks and phishing
But even aside from these major issues, there are other minor issues to be concerned with when choosing an exchange. Prospective traders need to consider how many trading pairs the exchange gives access to, how…
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