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Cryptocurrency exchanges a.k.a. digital currency exchanges (DCE) come in all shapes and sizes. Additionally, every one has its own reputation, which we completely review on our site. Each exchange provides its own payment method, tools to monitor 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 out of this exchange to your pocket. .
Exchanges can either derive from the creators of digital currencies. On the other hand, the vast majority of Cryptocurrency Exchanges are independent of those creators that simply 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 each cryptocurrency exchange we review into sections, and then we examine and examine each area. This helps us reach an eventual overall rating of the DVE in question.
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You may notice that no one size fits all in our reviews. We try to cover every section using the same subsection on every review, which means you can easily navigate each review and reach the exact point of information that most interests you. Nonetheless, you may see some testimonials have unique or different sections added 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 resources. They offer their own BNB coins, and this will be something not many exchanges provide, and so when we review sites such as these, we include new sections in to give you all of the information you need to know about this uniquely designed DCEs BNB offering. .
There are also companies such as Poloniex that offer trading, exchange solutions and a distinctive lending feature. We would then add in a section about the Poloniex lending facility, 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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As with any online market, there are bound to be positive and negative reviews and comments about every DCE. Some are only testimonials, and of course, some are unjust inspections. 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 that use risk management, high technology technology and supervisors that are specialists within the financial industry. They understand how to diversify their own portfolio as well as provide a user-friendly interface which helps their members trade and exchange cryptocurrencies smoothly. .
To gain an overall confidence rating we now the following important variables that help us give you an in-depth investigation of exactly what every DCE has to offer by testing:
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The summary 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 summary of the DCE, where it is established, whether the company has enrolled with any financial regulatory boards. Other information will be based on the way the DCE was formed and how many years they've been active. .
We may also supply some additional information which may be of interest. Perhaps you would like to know more about the owners or the owners remain anonymous. How hot the exchange is in regard to visitors to the site and from which countries the visitors comes from.
In addition, we may mention any bad or good media that the company may have picked up since the DCEs inauguration into the digital world of cryptocurrencies in addition to the way they dealt with problems in the past plus the way in which 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 exchange currencies. That means you might own Bitcoin, however you feel that this cryptocurrency is now losing its long-lasting equilibrium, but you notice that Ethereum is potentially going to hike in value.