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Cryptocurrency exchanges a.k.a. digital currency exchanges (DCE) come in all shapes and sizes. Additionally, each one has its own reputation, which we fully review here on our site. Each exchange offers its own payment system, tools to track cryptocurrency fluctuations as well as other attributes that include:
Some exchanges allow you to exchange fiat currencies for the purchase of cryptocurrencies; while, others will only accept payment in cryptocurrency. Your cryptocurrency can then be exchanged for another cryptocurrency using the DCE. In the latter case whereby, the exchange does not accept fiat currency, you will need to fund your account by means of a cryptocurrency wallet and transfer money from the exchange to your wallet. .
Exchanges can either derive from the creators of electronic currencies. On the other hand, the vast majority of Cryptocurrency Exchanges are independent of those founders that simply allow those involved in the buying, selling, and exchanging of cryptocurrency to use the exchange to facilitate these actions.
We use several deciding factors to rate a DEC.. We break down every cryptocurrency exchange we review into sections, and then we examine and review each area. This helps us come to an eventual general rating of the DVE in question.
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You will notice that no one size fits all in our reviews. We try to cover each section using the exact same subsection on each review, so you can easily browse each review and get to the exact point of information that most interests you. Nonetheless, you will see some testimonials have unique or different sections added to this review simply because what they must offer is exclusive for their exchange. .
Take Binance for instance and take a look at their exchange tools. They provide their own BNB coins, which is something not many exchanges provide, and so when we review websites such as these, we include new sections in to give you all the information you need to know about this uniquely see this here designed DCEs BNB offering. .
There are also companies such as Poloniex that offer trading, exchange solutions and a distinctive lending attribute. We'd then add in a section about the Poloniex lending facility, which is a characteristic you seldom see on any DCE, not to mention the fact that not many exchanges offer both margin trading in addition to cryptocurrency exchanges all under one roof. .
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As with any online marketplace, there are bound to be positive and negative reviews and comments about each DCE. Some are only testimonials, and naturally, some are unjust reviews. We plan to expose the rouge digital currency exchanges; for example Bitconnect where their Ponzi scheme crashed the value of the currency because they utilized an unsustainable business model. .
On the contrary, the large bulk of exchanges are honest companies that use risk management, higher tech technology and directors that are specialists within the financial industry. They understand how to diversify their own portfolio in addition to supply a user-friendly interface that helps their members transaction and exchange cryptocurrencies smoothly. .
To gain an overall trust rating we now the following important factors that help us give you an in-depth investigation of exactly what each DCE has to offer by testing:
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The summary just lets you know about the company or DCE you will be dealing with. The majority of the information in this section will be a historical overview of the DCE, where it is based, whether the company has registered with any financial regulatory boards. Other information will be contingent on how the DCE was formed and how many years they've been active. .
We might also supply some additional information that may be of interest. Maybe you want to know more about the owners or why the owners remain anonymous. How popular the exchange is in terms of traffic to the website and from which countries the traffic comes from.
In addition, we may mention any good or bad press that the company might have picked up since the DCEs inauguration into the electronic world of cryptocurrencies in addition to how they dealt with problems in the past and the way in which they plan to or have continuously enhanced.
Evidently, the one reason people come to opt for a digital currency exchange (DCE) is that they want to swap currencies. That means that you might own Bitcoin, but you believe this cryptocurrency is now losing its long-lasting equilibrium, but you see that Ethereum is potentially going to increase in value.