Cryptocurrency trading is getting very famous day by day. New investors want to trade in a secured, fast and confidential way, therefore, they choose a cryptocurrency exchange. Cryptocurrency transaction is thought to be the safest and fastest transaction till now and there are so many exchanges around the world that offer crypto-transaction services. We have seen that fake or underrated cryptocurrency exchanges fail to provide their commitment. Therefore, the new customer always in search of a reliable exchange where they can rely on a tension-free. We have tried to provide the information below the quality of good cryptocurrency exchanges and which is best among them.
A Cryptocurrency Exchange is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other cryptocurrencies. This is also called a Digital Currency Exchange (DCE).
A cryptocurrency exchange can be a brick-and-mortar incorporation or an online industry. As a brick-and-mortar business, it exchanges traditional payment methods and digital currencies. As an online corporate, it exchanges electronically transferred digital currencies. There are so many cryptocurrency exchanges where traders execute their trades. This is mechanically similar to the Commodity Exchange, and cryptocurrency is a tradable instrument instead of a commodity. Coinbase, Unicoin DCX, Binance, and Bisq are few well-known cryptocurrency exchanges in the world.
Quality of good Cryptocurrency Exchange: Many parameters make an excellent cryptocurrency exchange. We are discussing a few key characteristics among them.
Reliability is the foremost important quality that attracts and gives the confidence to choose and trade cryptocurrencies. It spreads with word of mouth, and in fact, it represents the goodwill of the organization. The higher the goodwill higher is reliability. As we know that there are numerous Ponzi schemes are available in the market which traps innocent or new customers. Therefore, reliability is an essential factor to judge such exchanges.
Transparency in the virtual currency transaction is very quintessential, so the traders can understand what happens in their accounts regarding transaction cost and services charges. Transparency in the system and transaction makes the company reputed, and it also helps for the acquisition of new customers and retention of the customer. It also makes customers stay dependable for the long term.
- Practices KYC Protocols
A legit company has to follow all the KYC protocols mandatorily. And it is always better to join the exchanges that strictly follow all the protocols, as this process makes the authenticity of the business as per the norm of federal policy.
- Legally Recognized By Government
It is significant to look for the affiliation and recognition of cryptocurrency exchange. That is, to check if recognized by any government body or not. Recognized companies are considered better as they are under the law of land, which makes sense for a new customer or trader. So, it is advisable to choose a well-recognized cryptocurrency exchange under any government law.
Cryptocurrency must be tradable under high security. As the trading is done online, the exchanges must give assurance for a secured transaction. The transaction must be end to end encrypted, and blockchain-based so, it can be safer from phishing, fraud, and scam.
Unicoin DCX as the Best Exchange
Unicoin DCX possesses all the above quality parameters that make it reliable to customers, and this is well known for the user-friendly trading platform, two factors authentication for wallet access, a wide range of products, liquidity, worldwide operation, and competitive service cost. This exchange is strictly following the Anti-Money laundering (AML) and Combating the Financing of Terrorism (CFT) policies which makes it trustworthy around the globe. The organization has special wings to help its customers for managing the risks. They offer to trade through web traders, desktop traders, and mobile trader platforms. Additionally, government recognition of Unicoin DCX adds value to its overall trading system. The exchange is the choice of millions of traders so it can be yours too.
While choosing any cryptocurrency exchange, you must have to work out with the above matching parameters like Unicoin DCX has those qualities. There are so many Cryptocurrency Exchanges all over, but when you try to get info about them based on parameters, then you will find only a few such Exchanges which are complying all the rules and regulations under any land of law. So, choose the best which are legit and trusted. We recommend having proper research and reference before transacting with any cryptocurrency exchange.