As many people are suffering from Bitcoin fever these days, more cryptocurrency exchanges are being created frequently. You cannot simply visit any online exchange and start trading with bitcoins or other cryptocurrencies. Do you know why? Some of them may be a scam and they will simply walk away with your money. Also, there is always the risk of hacking or other fraudulent activity by using your credit card information.Before you start investing your money in cryptocurrencies, you need to have two things that are given below:
- Wallet - A cryptocurrency wallet is somewhat similar to your traditional bank account as both are used for storing your currencies.It can be either a software wallet or a hardware version. You need to do good research to find out whether the wallet is 100% secure. Because you may lose your bitcoins or other cryptocurrencies if the information can be stolen by professional hackers.
- Exchange - Typically, a cryptocurrency exchange is a website where you can buy or sell cryptocurrencies by exchanging Fiat currencies like USD or with other cryptocurrencies.
Even though, cryptocurrency transactions are anonymous you cannot acquire a wallet without providing your personal information like credit/debit card, bank account etc. Many wallets expect you to provide some kind of ID proof also. Check out the below points before choosing a cryptocurrency exchange.
- Multiple payment methods - Find out the list of all payment methods supported by the exchange. Credit/debit card, wire transfer, PayPal, Skrill are the widely used payment services all over the world. If the exchange provides only limited options, then it will be difficult for you to make quick transactions.
- Security – You need to know about the security measures that are taken by the exchange to protect the integrity of your data as well as your cryptocurrencies.
- Customer reviews - Do a little bit of research online and read the customer reviews of the exchange you have chosen. If the star rating of the exchange is more than 3, then the exchange is reasonably doing well.
- Fees – Don’t go for exchanges which charges more amount as transaction
- Support - Many exchanges don't offer 24/7 customer support and taking a long time to resolve the issues. Find out what kind of support is provided by your exchange.
By taking into consideration of all the above points, a new blockchain based platform named CoinMetro is being developed which has all the essential features that are given below.
- Security: CoinMetro offers a variety of options like Two-factor authentication, Multi-signature transactions (BitGo) and Biometric authorization.
- Storage: Cryptocurrency assets are stored in cold storage wallets which are located in various geographical locations. The Internet is forbidden in these places to prevent attacks by hackers.
- Support: CoinMetro provides a 24/7 customer support to resolve any issues and for answering queries related to the platform.
Visit the link https://coinmetro.com/whitepaper/ to learn more information about the CoinMetro platform in detail. To access the services of CoinMetro, you need to hold their proprietary token named COIN which can be bought during the token sale event of the company. Check out https://coinmetro.com/ to get the latest information about the pricing, availability, and sale of COINs.