How to choose the cryptocurrency platform?

how to choose crypto platform

✔️ Information reviewed and updated in June 2024 by Eduardo López

One of the most effective ways to invest in cryptocurrencies is through a broker or a purchase or exchange platform. This is because, under this modality, you really are the owner of the cryptocurrencies, that is, you will have them in a real way within your Wallet.

Choosing a suitable cryptocurrency platform is very important, as it will directly influence the performance of your investments and the growth of your money, as well as security. To choose the best platform, we have prepared this list with the points to take into account.

1. The prestige

Because there is no clear regulation around cryptocurrency platforms, they have started to proliferate rapidly. Unfortunately, this carried the risk of fraudsters with offers that, at first glance, might seem good, but are actually the opposite.

That is why the prestige of the platform is so important because it will tell us if it is reliable or if we run out of there before investing. The most common is that the prestige comes, both from the users and the experts who are the ones who validate a broker.

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2. user opinion

Another of the most important points, and that is implicit in the previous one, is the opinion of the users. And is that there is nothing more revealing than a user tells you about their experience on a certain platform because this is much more real and genuine.

Today there are a large number of places where you can find the opinion of users. For example, there are endless forums and websites that are responsible only to collect this type of opinions, thus qualifying the brokers and the user experience.

3. Amount of cryptocurrencies

Nobody wants to invest in a cryptocurrency exchange or purchase platform that has very few options to choose from.. This is because, the less cryptocurrencies you have, the less will be the opportunity to diversify and choose the best option to generate returns.

The more cryptocurrencies you have, the more options there will be to choose from based on their value and behavior in trends. So, before investing in a platform it is better that you pay attention to the amount of cryptocurrencies it offers. The most normal thing is to have the most popular virtual currencies along with other alternatives.

4. Transaction volume

One of the most efficient ways to evaluate a broker, its reliability and its relevance in the market is by its level of transactions. So checking how big the volume of transactions is is something that you should not miss.

Take into account that the brokers that move the most investments are also usually the ones that offer the best returns or benefits, which is why so many users. It is important that you search the internet for this information and use it as a good way to choose between one broker or another.

5. The operation of the broker

Not all cryptocurrency platforms operate the same because, although they share common objectives, not all have the same characteristics. There are brokers that are more complex than others, so we should not trust that they will be the same if we have already had previous experience with them.

For those who are inexperienced, a good way to know how the platform works is to search for videos of users counting or even showing the user experience. You can even check if the platform offers you the option to open a demo account in order to start familiarizing yourself with the broker without investing in it.

6. Support

Technical support is very important when you have never invested in cryptocurrency exchange or purchase platforms, as this provides support and confidence. That is why we highly recommend looking at what technical support or user care is like.

Each broker has its own contact policy, for example, by phone, by message or chat, mail, etc. Pay close attention, first of all, to the type of contact medium offered by the platform. Second, for example, check the hours in which you can contact them, if it is limited to hours and dates or if it is 24/7.

7. App or website?

For us, an important point to look at before choosing a cryptocurrency is where you can use it. The most common is to find virtual currency brokers that operate with a website.

Although also, it is likely that we will find more and more brokers that offer the option of using a mobile app to operate. This is certainly a great advantage, since you don't have to limit yourself to just one device. Thus, you can invest when you want and where you want.

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✨Tips to take into account when choosing a broker✨

  • Better choose a well-known platform: If you are a beginner, one of the best tips we can give you is to choose a well-known or popular platform. This because of They tend to be much more secure and reliable as they have thousands of active users on them.
  • Only cryptocurrencies to private Wallets: To avoid being a victim of a scam and have full control of your cryptocurrencies, We recommend buying only coins that can be sent to private Wallets. If you see that a platform offers you this type of cryptocurrency, then we recommend choosing this one to invest.
  • Never leave your cryptocurrencies at the broker: This is one of the safety tips that experts recommend the most. And it is that there have been cases of broker that disappear with all the cryptocurrencies of the users. To avoid this, it is better that you take out your cryptocurrencies and send them to your private wallet.
  • Research and Compare: Lastly, We recommend that you do a thorough investigation and compare each of the candidates so that you can choose the best one. Remember that information is power, so knowing each of the platforms or broker will undoubtedly help you make better decisions.

Eduardo Lopez

Editor and Copywriter

I am Eduardo López Martínez, I was born in Madrid, Spain and I am 48 years old. I am a journalist and I am part of the Brokersdeforexconfiables.com team. Do you want to know a little more about me? I invite you to read my biography.

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