If you have ever dealt with cryptocurrency, you know that it is extremely volatile. A price of even the most demanded coin can boost instantly, and then, drop again within a couple of seconds. Thus, when you are planning a transaction, you want to make sure it will be performed as soon as you request it.
Also, you know, that even if an instant crypto exchange online offers to choose between a fixed and a floating rate, and you choose a fixed rate, this rate is valid within a limited time, say, half an hour. If you have to register your account, then, to verify it, and then, send more documents to increase the trading limit, you might lose valuable time, and thus, a significant sum of money. Thus, you would prefer a platform where you can exchange your coins instantly.
If so, your option is something like LetsExchange and a few other exchange services where you can swap your coins without wasting time on KYC and other procedures that aren’t related to transactions at all. However, when you see such a platform, don’t move immediately to swapping your coins there. Check first whether the platform is reliable enough.
How to Make Sure an Exchange Service Is Worth Your Attention
Before opting for one or another platform, make sure it complies with at least basic requirements.
- The very first step shall be to make sure the platform is safe. The website shall be SSL-protected. If this is not done, your funds and information (doesn’t matter what data you have to provide on the website) can be stolen. Just have a look at the platform URL. If it starts with “HTTPS”, you are safe there. If though it starts with “HTTP”, it means that whatever data you provide there, everybody can see it.
- Then, the exchange rates matter. If you check https://letsexchange.io/exchange-rates and compare them with other offers, you will see that in the majority of cases, you get a profitable deal when you are swapping crypto via the LetsExchange service. Normally, you can even compare the number of funds that you get when the transaction is over with an online calculator. Almost every platform offers it now. So, just move to the page with the calculator, and check the results. Choose the platform where you are going to get the highest result.
- Customer support is ignored by many users. However, you might not pay attention to it until the first problem occurs. Then, they might either be available or not. Thus, whenever you deal with money, make sure whether you can get professional help before you start using a specific service.
- Reviews online – this is what matters indeed. While we all know that platforms might even pay for reviews, you can always find out whether the posted feedback is genuine or it is ordered. Real reviews, especially negative ones, always tell details. Positive reviews are rather short. Also, check whether the feedback is written individually and whether it is not repeated on different resources. Some companies tend to post the same review multiple times, it is a clear sign that the review cannot be trusted.
Now, you can choose the most suitable exchange, and trade safely.
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