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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 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 by means of a cryptocurrency wallet and transfer money from this exchange to your pocket. .
Exchanges can derive from the founders of digital currencies. On the other hand, the 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 actions.
We use several deciding factors to rate a DEC.. We break down each cryptocurrency exchange we examine into sections, and then we examine and review each area. This helps us reach an eventual general rating of this DVE in question.
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You may notice that no one size fits all in our testimonials. We attempt to cover every section using the same subsection on every review, so that you can easily browse each review and get to the exact point of information that most interests you. Nonetheless, you will see some reviews have unique or different sections offered to this review only because what they must offer is exclusive for their exchange. .
Require Binance for example and check out their exchange tools. They offer their own BNB coins, and this will be something not many exchanges provide, and so when we review websites such as these, we include new sections in to give you all of the information that you need to know about this uniquely designed DCEs BNB offering. .
Additionally, there are companies such as Poloniex that offer trading, exchange services and a special lending feature. We would then add in a section about the Poloniex lending facility, which is a characteristic you rarely see on any DCE, not to mention the fact that not many exchanges offer both margin trading as well as 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 just testimonials, and naturally, some are unjust reviews. We plan to expose the rouge digital currency exchanges; for example Bitconnect in which their Ponzi scheme crashed the value of their currency since they used an unsustainable business model. .
On the contrary, the huge bulk of exchanges are honest companies that use risk management, high tech technology and directors that are specialists within the financial industry. They understand how to market their own portfolio in addition to provide a user-friendly interface that aids their members trade and exchange cryptocurrencies effortlessly. .
To gain an overall confidence rating we the following important variables that help us provide you an in-depth investigation of what each DCE Offers by testing:
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The summary just tells you about the company or DCE that you will be dealing with. Most of the information in this section is going to be a historical summary of this DCE, where it is based, whether the company has enrolled with any financial regulatory boards. Other information will be contingent on the way the DCE was shaped and how many years they have been active. .
We may also provide some additional information which may be of interest. Perhaps you would like to know more visit about the owners or why the owners remain anonymous. How hot the exchange is in terms of traffic to the site and out of which countries the visitors comes from.
In addition, we might mention any bad or good media that the company may have picked up since the DCEs inauguration into the digital world of cryptocurrencies as well as the way they dealt with problems in the past and how they plan to or have continuously improved.
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 may own Bitcoin, but you believe that this cryptocurrency is now losing its long-lasting equilibrium, but you see that Ethereum is potentially going to hike in value.