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Cryptocurrency exchanges a.k.a. digital currency exchanges (DCE) come in all shapes and sizes. Plus, each one has its own reputation, which we completely review here on our site. Each exchange provides its own payment method, tools to track cryptocurrency fluctuations in Addition to other attributes that include:
Some exchanges allow you to exchange fiat currencies to the purchase of cryptocurrencies; whileothers 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 the exchange to your pocket. .
Exchanges can either derive from the creators of digital currencies. On the other hand, the vast majority of all 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 actions.
We utilize several deciding factors to rate a DEC.. We break down every cryptocurrency exchange we examine into sections, and then we test and review 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 attempt to cover each section using the same subsection on each review, so that you can easily browse each review and get to the exact point of information that most interests you. Nonetheless, you may notice 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 example and take a look at their exchange tools. They provide their own BNBÂ coins, which is something not many exchanges provide, and so when we review websites such as these, we add 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 provide trading, exchange solutions and a special lending attribute. We would then review add in a section about the Poloniex lending facility, which is a feature you rarely see on any DCE, not to mention the fact that not many exchanges provide 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 reviews and comments about every DCE. Some are just reviews, 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 the currency since 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 aids their members trade and exchange cryptocurrencies effortlessly. .
To gain an overall trust rating we the following important variables that help us provide you an in-depth investigation of exactly what every DCE Offers 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 summary of this DCE, where it is established, whether the company has registered with any financial regulatory boards. Other information will be based on how the DCE was formed and how many years they've been active. .
We may also supply some additional information that could be of interest. Maybe you want to know more about the owners or why the owners remain anonymous. How hot the exchange is in regard to visitors to the site and out of which countries the visitors comes from.
In addition, we may mention any bad or good press that the company might have picked up since the DCEs inauguration into the anchor digital world of cryptocurrencies as well as how they dealt with issues 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 swap currencies. That means that you may own Bitcoin, but you believe that this cryptocurrency is now losing its long-lasting stability, but you see that Ethereum is potentially going to hike in value.