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Crypto exchanges work much like a broker, providing you the equipment to buy then sell cryptocurrencies easily. In addition they offer precautionary features and storage options for your digital assets which might be superior to maintaining wallet software by yourself. Cryptocurrency exchanges have begun offering custodial key storage for users however you should employ this service cautiously, as cryptocurrency exchanges in many cases are prized targets for cybercriminals.

How may you Make sure a Cryptocurrency Exchange Is Legitimate?

First, search for the street address from the exchange. When there is no address easily available, it’s not necassary to use the exchange. There are many reasons for this. Transparency is usually a symbol of legitimacy.

Do Crypto Exchanges Charge Fees?

Most do. They can be based on the size the transaction, or maybe your level of trading activity, or, sometimes, they may be unrelated to either of those factors. It’s important to research and be aware of exchange fees when you’re willing to buy and sell crypto in this way.

The Bottom Line

The most used and strategy for buying, selling, and staking digital assets is by an electronic currency or cryptocurrency exchange. Sound simple? Perhaps not when you be the cause of the roughly 270 of the exchanges which can be now available globally.

If you are deciding if or which exchange to pick, it’s vital that you glance at the currencies supported, pricing, fees, withdrawal options, and security.

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