Cryptocurrencies have been popularized thanks to Bitcoin. Today there are several thousand. But beware 99% have no real use and will soon be forgotten. They are also given the names of crypto-assets, electronic currencies, crypto-graphic currencies or cryptocurrencies.
What is a cryptocurrency?
It is an asset that is traded peer-to-peer (P2P) without a third party like banks. They do not have physical support like coins or banknotes, are not regulated by a central body and are not indexed on dollars or gold for example. These new electronic currencies use blockchain technology to transfer the ownership of cryptos between their different owners.
The main objective of most of these new cryptocurrencies is to solve the problems of the previous ones. You can cite Litecoin which aims to make faster money transfers than with Bitcoin. Ethereum which specializes in the development of smart contracts, or decentralized applications. Or a whole bunch of cryptocurrencies which aim to increase the number of transactions per second on the blockchain.
The majority of cryptocurrencies use blockchain technologies even if other technologies can be used.
How to choose the right cryptocurrency exchange platform?
Bitcoin trading is a great way to increase the number of Bitcoins you have. Buy low, sell high and reinvest the Dollars earned for an even greater amount of Bitcoins at a time when the price has dropped again.
But how do you choose the right trading platform? There are many more solutions to choose from the Internet. Prospective traders can look for certain features that can help them decide which platform is best for their needs.
Bitcoin trading platforms are the sites where users can be exposed to variations in the prices of cryptographic currencies, either through the direct purchase of Bitcoins, or through certificates whose value is linked to digital currency. You can trust on currency.com where you can trade and invest too.
Since Bitcoin is by nature an anonymous digital currency, it is common for users to prefer to keep their profile low and do not want to share their personal data over the Internet.
Before registering on a Bitcoin trading platform, it is worth checking first what types of personal data are required to register for the services. Popular trading platforms require photo ID for withdrawals, but there are also options for making anonymous transactions, for example at BitMex or Magnr.
An email address is always required for the registration process. To persist anonymous, you are able to create an email address only for use on broker sites. Other personal information can make the registration process long, it can even take several days, especially if the platform needs to verify the credentials, so it is worth considering this part too. This verification process is usually required, as soon as you want to exchange your BTC for cash the other way around.
Ability to transact on the go
In the smartphone age, most Bitcoin trading platforms already have an app for Android or iOS that allows clients to use services on the go and manage finances from anywhere and anywhere moment.
In general, a broker should pay attention to usability, because the client does not want to spend too much time exploring the features, all of them should be self-explanatory.