Welcome to BeerMoneyForum.com - BIGGEST MAKE MONEY FORUM ONLINE

[AudraMiller]

When you are deciding on a crypto exchange to choose and to make use of constantly, it is important that you continue to do your research, finding the exchange with the largest user base. The reason why this is the case is that this will result ingreater trade volumes between the pairs, allowing for buy and sell orders to occur faster. In smaller exchanges you may have to wait hours or even days for a single order to go through. what are your thoughts on this? Do you agree with this analysis or do you think smaller and newer exchanges have their ebenfits as well?

 

[Niftyicon]

I think you are right about the user base. It also indicates to me when an exchange has a large user base that it is very reputable and has gained the trust of people.

 

[AudraMiller]

I think you are right about the user base. It also indicates to me when an exchange has a large user base that it is very reputable and has gained the trust of people.

This is a good point as well. There is a lot of new exchanges that are constantly being put up and these are sometimes scams, especially with the ease by which you can obtain domains now to create your own exchange.

 

[microunit]

Really depends , as i usually use an exchange if it has the specific coin i wanted to exchange , there are some good coins out there that are still not quite supported by major exchanges

 

[Niftyicon]

This is a good point as well. There is a lot of new exchanges that are constantly being put up and these are sometimes scams, especially with the ease by which you can obtain domains now to create your own exchange.

Indeed! I think it is unwise to just join any exchange for the sake of it without any proper investigations. A lot of exchanges are opening and shutting down almost at the same speed.

 

[AudraMiller]

Indeed! I think it is unwise to just join any exchange for the sake of it without any proper investigations. A lot of exchanges are opening and shutting down almost at the same speed.

This is where people get conned out of their crypto and these type of exchanges typically prey on the newbies that are just entering the field of crypto, hoping that they will invest in a site like this. It is good to check the status of exchanges in forums such as this one.

 

[Wisdom01]

Some smaller exchange platform usually give free withdrawals , deposits and many others , this is the benefit that makes them make use of them

 

[AudraMiller]

Some smaller exchange platform usually give free withdrawals , deposits and many others , this is the benefit that makes them make use of them

Free withdrawals would be quite enticing. Right now with the exchange that i am using, withdrawing a coin such as dogecoin is quite expensive and the withdrawal fee is 100 doge. Other coins are a bit smaller, and ripple and ltc are great to withdraw, but dogecoin and ethereum and bitcoin are no go areas for high fees

 

[sh199]

The first thing I thinking about that is the security of that exchange and trustworthiness. Then the fees rate of the platform. These two things come in my find for choosing an exchange.

 

[AudraMiller]

The first thing I thinking about that is the security of that exchange and trustworthiness. Then the fees rate of the platform. These two things come in my find for choosing an exchange.

Security is very important. One of the first things that any user should do if they are going to use an exchange is to enable to two factor authentication system, because that is what will ensure that your funds are kept safe.

 

[sh199]

Security is very important. One of the first things that any user should do if they are going to use an exchange is to enable to two factor authentication system, because that is what will ensure that your funds are kept safe.

Yeah. The security system is the first priority for depositing into it. Nowadays many Defi exchanges come that does not well managed in the security system. We should aware of them.