If you are thinking about buying into this whole cryptocurrency thing, you need to do your homework first. Once you figure out which cryptocurrency to buy and how you are going to store it securely, you need to determine which cryptocurrency exchange you are going to buy it on.
There are many options when it comes to purchasing cryptocurrency. Some of the largest and most popular cryptocurrency exchanges include Binance, GDax, and Kraken, but those are not the only options.
You’ll have to determine which exchanges are available where you live and which take your preferred currency first. GDax takes U.S. Dollars, Euros, and British Pounds, while Kraken takes all those plus Japanese Yen and Canadian Dollars. For most exchanges you can make deposits via cryptocurrencies or bank deposits.
Trading fees vary widely in cryptocurrency exchanges. For most exchanges there are both maker and taker fees, which can add up pretty quickly.
There are also issues of security and theft - there are many threats to cryptocurrency and poor security can be a serious issue when choosing an exchange. Some exchanges are in the middle of active breaches, so it’s important to determine which exchange is going to give you the most safety. Bitstamp is a major crypto exchange and just this January it had $5 million worth of Bitcoin stolen because of a hot wallet security breach.
When you are ready to buy into this whole cryptocurrency craze you have to first determine which exchange you are going to buy it on. Learn more about crypto exchanges from this infographic!
Infographic Courtesy of Best Bitcoin Exchange https://www.bestbitcoinexchange.io/top-crypto-exchanges-2018-infographic/
