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Crypto exchanges work similarly to a brokerage, supplying you with the tools to get and sell cryptocurrencies easily. They also offer safety measures and storage alternatives for your digital assets that may be finer quality than maintaining wallet software yourself. Cryptocurrency exchanges have begun offering custodial key storage because of their users but you should use this service cautiously, as cryptocurrency exchanges in many cases are prized targets for cybercriminals.

How could you Be certain a Cryptocurrency Exchange Is Legitimate?

First, search for the home address from the exchange. When there is no address easily obtainable, it’s not necassary to use the exchange. Many reasons exist for this. Transparency is often a symbol of legitimacy.

Do Crypto Exchanges Charge Fees?

Most do. They could be based on the height and width of the transaction, or maybe your level of trading activity, or, in some cases, they could be unrelated to either of those factors. It’s important to research and be alert to exchange fees when you are ready to trade crypto this way.

The Bottom Line

The most used and strategy for buying, selling, and staking digital assets is through searching for currency or cryptocurrency exchange. Sound simple? Perhaps not if you account for the roughly 270 of these exchanges which might be now available globally.

When you are deciding if or which exchange to decide on, it’s imperative that you glance at the currencies supported, pricing, fees, withdrawal options, and security.

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