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Cryptocurrency exchanges a.k.a. digital currency exchanges (DCE) come in all shapes and sizes. Plus, every one has its own reputation, which we completely review on our site. Each exchange provides its own payment method, 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 instance whereby, the exchange does not accept fiat currency, you'll need to fund your account via a cryptocurrency wallet and transfer money from this exchange to your wallet. .
Exchanges can derive from the founders of digital currencies. On the other hand, the majority of Cryptocurrency Exchanges are independent of those founders that just allow those involved in the buying, selling, and exchanging of cryptocurrency to utilize the exchange to facilitate these activities.
We use several deciding factors to rate a DEC.. We break down every cryptocurrency exchange that we examine into sections, and then we examine and examine each area. This helps us come to an eventual overall rating of this DVE in question.
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You will notice that no one size fits all in our reviews. We attempt to cover every section using the exact same subsection on every review, which means that you can easily navigate each review and get to the exact point of information that most interests you. Nonetheless, you may see some reviews have unique or different sections offered to the review simply because what they have to offer is exclusive to their exchange. .
Take Binance for instance and take a look at their exchange tools. They offer their own BNB coins, and this is something not many exchanges provide, and so when we review websites like these, we include new sections in to give you all the information you need to know about this uniquely designed DCEs BNB offering. .
There are also companies such as Poloniex that provide trading, exchange services and a distinctive lending attribute. We'd then add in a section about the Poloniex lending centre, which will be a feature 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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Just like any online marketplace, there are bound to be positive and negative testimonials and comments about each DCE. Some are just testimonials, and of course, some are unjust reviews. We aim to expose the rouge digital currency exchanges; for example Bitconnect where their Ponzi scheme crashed the value of their currency since they utilized an unsustainable business model. .
On the contrary, the huge majority of exchanges are honest companies which use hazard management, high tech technology and directors that are experts within the financial industry. They understand how to diversify their own portfolio in addition to provide a user-friendly interface which aids their members trade and exchange cryptocurrencies smoothly. .
To gain an overall confidence rating we the following important factors that help us provide you an in-depth investigation of exactly what every DCE has to offer by testing:
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The overview just tells you about the company or DCE you will be dealing with. Most of the information in this section is going to be a historical overview of this DCE, where it is established, if the company has enrolled with any financial regulatory boards. Other information will be contingent on how the DCE was shaped and how many years they have been active. .
We might also provide some additional information that could be of interest. Maybe you want to know more about the owners or the owners remain anonymous. How popular that the exchange is in regard to traffic to the site link site and from which countries the traffic comes from.
In addition, we might mention any good or bad press that the company might have picked up since the DCEs inauguration into the digital world of cryptocurrencies in addition to how they dealt with problems in the past plus how they plan to or have continuously improved.
Obviously, the one reason people come to opt for a digital currency exchange (DCE) is that they want to swap currencies. This means that you may own Bitcoin, however you believe that this cryptocurrency is now losing its long-lasting stability, but you notice that Ethereum is potentially going to hike in value.