Over the last couple of years, cryptocurrencies have gained popularity, with leading coins like Ethereum and Bitcoin continually making headlines. While the asset class has grown popular, the question of crypto exchanges has remained pressing. Crypto exchanges are like other exchanges in that they have advantages and nuisances. If you are new to crypto trading, the best way to understand crypto exchanges is to know your priorities.
Even though a bit complex to start because of the steep learning curve, investing in cryptocurrencies is not very different from investing in forex or stocks. Still, the industry is also filled with cyber-attacks, scams, and stories of stolen wallets. So one of the things an exchange needs to guarantee you is security. When choosing a cryptocurrency exchange, look at your options in terms of:
- Volume and liquidity
- Transaction fees
- Anonymity, security, and support
- Restrictions and geographical location
- Ease of use and the UI
As an investor, you want your money secure and safe. Whether you are buying cryptocurrency to keep it for the long term or working as a day trader, safety is paramount. You also want to consider the payment forms that the exchange accepts. Currently, most crypto exchanges accept different payment forms, including PayPal, wire transfers, and credit cards. However, every exchange will have other limits and fees. You do well to pay attention to the fine print before you fund an account. It is what sets apart different exchanges.
Most exchanges rely on simple frameworks to make it easy for new investors to navigate the platform. It is wise always to familiarize yourself with any UI before you fund your account. More importantly, there are things you should expect from your exchange. Your choice could vary depending on the crypto you are trading, but the best exchange will give you access to the most liquid cryptocurrencies like Ethereum and Bitcoin. Find out whether the exchange you are considering supports the coin you want to trade beforehand.
Some specific regulations and rules dictate how much of a cryptocurrency you can trade or the specific ones you can use for traders in different jurisdictions. Always keep updated with these laws because they will affect taxation. Currently, most exchanges will screen their new traders for their nationality. The idea is to help avoid accidental illegal use. Like other types of investment, never neglect to do your due diligence. Perform basic research before you make a choice.
You can research by looking into the history of the exchange you are considering. Find out whether your options have been subject to any phishing scams or malicious attacks in the past. What is more, all popular exchanges will have communities or forums where you can find answers to questions people have asked before. Do not sign up for an exchange known to have a history of security breaches or that has disabled withdrawals for long. Finally, compare the prices for trading so that you can sign up for an exchange that will be pocket-friendly. What is the exchange rate? How much do you pay in fees?
CryptoFacile helps you Find and Compare Prices from Crypto Exchanges
It can be tough to get started with cryptocurrencies. Other than the steep learning curve and pitfalls for newcomers, there is a lack of transparency in the sector, so that the newcomer seems set up for failure. What is more, even for the veteran, the market of cryptocurrency exchanges is hugely saturated so that you can easily get lost among service providers and the services they offer. Some exchanges try to catch your attention by making loud claims that are not always true.
CryptoFacile.io is a platform that looks to resolve these issues. The web app is set up that the user looking to buy cryptocurrency can compare different exchanges based on current prices to make buying more manageable and transparent. With the comparison tool, the user can tell which cryptocurrency exchange makes valid claims from the ones that use false advertising. More than uncovering the truth, the user can buy cryptocurrency at the lowest prices with the app, basing their decision on unbiased research.
The company behind CryptoFacile, Betsy5 Internet Solutions, uses advanced AI and machine learning to compare cryptocurrency prices, meaning that you can find the best rates any time you want. It goes through exchanges to find the best rates so that you do not have to – all this in real-time. It makes it easy for newbies to exchange crypto at the most reasonable prices. CryptoFacile may earn a commission if you buy cryptocurrencies through the links provided on the platform and the commission rate appears next to the queried price. However, the ranking is based on the real-time best price. The commission payments do not influence it.
To use the web app, visit CryptoFacile.io, pick the crypto that you are interested in and search. Anyone with basic level web use knowledge can use it. It has a friendly user interface design with options like using it on dark or light mode. You also get to select the language you prefer to use the app in, from English, German, French and Italian.
The app currently supports many cryptocurrencies, including Bitcoin, Ethereum, TetherUSD, Ripple, Litecoin, Dogecoin, and Monero. It is fast to use. In milliseconds, you get price results in ascending order. You can view the price before trading fees are applied and after they are added. CryptoFacile receives its data directly from the crypto exchange APIs, which means that it is reliable. It currently compares prices on three exchanges – Coinbase, Kraken, and Binance.
Given that CryptoFacile is a new player in town, it has many growth opportunities. Adding the number of cryptocurrency exchanges that the app tracks might be a sure way to draw more people to the app. Other than that, it is currently easy to use, reasonably affordable, and fast, which are drawing points for a web app. Newcomers to the cryptocurrency world, even veterans, may find the app more than worthwhile.