Crypto exchanges

The loudest scandal of last year related to crypto exchanges happened in August. It was then that one of the well-known exchanges was hacked by hackers, and the total amount of financial losses of its users amounted to about 3.5 million dollars. This is one of the common reasons why it is naive to rely on luck in cryptocurrency trading. Crypto exchanges where cryptocurrency transactions are made must be reliable enough that without a single catch and with clear, understandable instructions. That is why the search for a cryptocurrency trading platform should be approached not only carefully, but with a good understanding of this market and its complexities. We talk about the most important nuances and criteria for such a choice, which will help you not only save and increase your capital, but also avoid losses in unforeseen situations.

How can you make money with crypto exchanges today? What are their advantages?

In simple terms, a crypto exchange is a trading platform where you can make profitable deals and trade cryptocurrency in a few clicks. The easiest and most understandable way to make money is the financial difference that you can get on sales and purchases. That is why the best crypto brokers are most often associated with such concepts as trading and investing, which today are considered a fairly common way of passive income. Although the cryptocurrency exchange has a complicated mechanism of work, it is always profitable and safe: if, of course, the trading platform is licensed by the financial regulator and operates in accordance with the law. That is, this is a completely legal way to increase and invest money, which does not require physical effort, but only a competent approach to crypto sales. For example, in order to make a financial transaction, you need to place a sell order. In response, the platform will match you with the user who placed the buy order. For such a procedure, as a rule, she takes a certain commission.

On such sites, they most often request documents and verify the identity of users in order to maintain security and avoid fraud. But there are crypto exchanges that do not require verification, where you can remain anonymous and trade without verifying your identity. This is quite a common practice. And basically, such best crypto-exchanges without verification are also hopeful in their own way. But in the event that a cyber attack or a technical failure occurs, after which your funds are lost from your personal account, then without going through the verification procedure, it will not be so easy for you to return them to yourself. This is important to consider so that you have the opportunity to prove that you are the owner of a particular account from which the money was debited. I think many have heard such concepts as "trading" or "investing". Well, it's all about trading. Trading exists not only in the cryptocurrency market, no, it is a universal way to make money in any market.

Is it necessary to study specifically in order to successfully enter the crypto exchange or can even a beginner do it?

Cryptocurrency trading is a thing that can be learned, but it is really worth spending a lot of time and effort on it. If only because not all cryptocurrency exchanges have an interface that is understandable for novice users and a demo account, and sometimes they cannot even boast of a competent translation into Russian. Therefore, when a beginner without experience and preliminary preparation enters the online cryptocurrency exchange, he meets a vinaigrette of various buttons, numbers and graphs that is difficult to perceive. Nevertheless, today there are still the best crypto exchanges for beginners, where everything does not look so complicated and various tools are described. But even with this choice, when you are just starting to trade on a crypto exchange, no one has canceled the btc cryptocurrency rates, which will help you understand this topic deeper and get to the bottom of it.

Moreover, there are many opportunities for learning today. These are both online courses and training video tutorials that can be found freely available on YouTube. The first option, as a rule, is paid and more effective. The main thing is to choose a proven speaker who has experience in cryptocurrency trading and can prove it.

How to choose the best crypto exchange for yourself?

Firstly, you can choose the right one among the best crypto exchanges in Ukraine only if you check in advance all the conditions for registering for them, as well as withdrawal methods and a list of partners who work with them. It is important that these names are well known and reliable. Secondly, you should also decide whether you want to trade on a centralized exchange or decentralized crypto exchanges are more suitable for you. The difference is that the former are usually located in central offices and in this case it is easier to carry out a hacker attack. Thirdly, it is important to decide between Russian crypto exchanges and American crypto exchanges, having studied their trading volume and the work of the support service. For the former, as a rule, it is easier to do due to the lack of a foreign language, which, ideally, not everyone speaks in our country.

What are the important nuances you need to know before you start working with a crypto exchange?

To understand that you have the best crypto exchanges of 2022 in front of you, you should start from its reputation, duration of work, and such an unobvious fact as location. Few people know that it depends on where the crypto exchange is located, how it will treat users from the CIS. This is especially true for residents of the Crimea and Belarus - points on the map that are considered “gray zones. That is why finding the best crypto exchanges for Belarusians is not so easy, but quite real.

Today, this can be done with Ask.Direct. This is a special chatbot that brings together people from all over the world who are ready to share information about those trading platforms that they personally used and invested their money in. The system automatically selects for you a person who already trades cryptocurrencies on a certain platform and can honestly tell you about his experience. This is the most reliable and convenient way to find out how the best crypto exchanges work and which one you can trust.