The world of cryptocurrency and the blockchain can certainly be an intimidating place when you first decide to venture inside. The seemingly complex industry is actually quite easily explained in a few short steps. One of these important initial steps is to register yourself with a reputable cryptocurrency exchange. This forms the foundation for your trades, your trading hub essentially.
This all makes the decision very important. Therefore, how can you be sure to choose the right one, and what features should you look out for.
New to the Industry
As a newcomer, what you want to choose is an exchange which has a simple process for registration and trading. The time to worry about other intricacies will come further down the road. There are many options when it comes to highly reputable exchanges. These include the likes of Coinbase, or for those a little further on their developing crypto journey there is Binance which is a largely trusted crypto to crypto exchange.
Too good to be true
The old saying about something being too good to be true also holds up well when it comes to cryptocurrency. It may be tempting to sign up for what seem like legitimate exchanges offering big perks and deposit bonuses, but the most important thing you can do with any of these is to consult your nearest search engine first. Absolutely get some verifiable reviews and feedback from other real users before transferring a penny. There are many frauds out there.
Refer Your Friends
Don’t be shy about referring your friends. As you have just been, they too are probably on the lookout for a trusted exchange. What better way to find one than a friend’s recommendation. This is a key method when the industry is still growing so fast. By doing this, many exchanges will also offer some form of incentive or bonus based on your friends trading.
Ultimately, this means you can benefit both financially and in your duty as a friend. The resounding point to take from this piece is to ensure you conduct your own background research prior to registration.