How to choose the right exchange for crypto trading

There are several main criteria for choosing a crypto exchange.

First, you need to make sure that developers do not neglect security. Sometimes the terms of trade seem very favorable, but this is due to the fact that the management decided to save on protection methods. Low commissions are good, but they will not help if the exchange is hacked and the funds are lost.

Secondly, it is important to keep track of the news. If you come across information about a major hacker attack or there are comments about problems with transactions, you should try to quickly withdraw funds from the exchange before it’s too late.

Thirdly, it is necessary to pay attention to the reputation of the project. Large exchanges that have been operating for many years are less likely to encounter fraud. If you still want to try your luck on a little-known crypto exchange, you should carefully study the reviews.

Fourthly, you need to decide for what purposes the platform is needed, that is, what and how often trading will take place. The cost of commissions (both trading and withdrawal) depends on this.

Finally, it is important to pay attention to the jurisdiction of the project (in which country it is registered). Different countries treat cryptocurrencies differently and use their own regulatory measures.