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Crypto exchanges work much like a financier, providing you with the equipment to acquire and then sell on cryptocurrencies easily. Additionally they offer security features and storage choices for your digital assets which might be superior to maintaining wallet software yourself. Cryptocurrency exchanges have started offering custodial key storage for users however you should utilize this service cautiously, as cryptocurrency exchanges in many cases are prized targets for cybercriminals.

How may you Make sure a Cryptocurrency Exchange Is Legitimate?

First, search for the home address from the exchange. If you have no address easily accessible, you should not use the exchange. Many reasons exist for for this. Transparency is usually a symbol of legitimacy.

Do Crypto Exchanges Charge Fees?

Most do. They are often based on the sized the transaction, maybe amount of trading activity, or, sometimes, they might be unrelated to either of those factors. It is advisable to research and become aware of exchange fees if you are ready to buy and sell crypto in this manner.

The Bottom Line

The most used and straightforward strategy for buying, selling, and staking digital assets is through an electronic currency or cryptocurrency exchange. Sound simple? Perhaps not whenever you are the cause of the roughly 270 of those exchanges which might be available globally.

When you’re deciding if or which exchange to choose, it’s important to consider the currencies supported, pricing, fees, withdrawal options, and security.

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