Trading with cryptocurrency is nothing new anymore. From small investors to major companies, everyone likes to deal with cryptocurrencies. Why? Because it’s been embraced by users and investors. In the future, more people and companies will lean toward cryptocurrencies. With the growth of cryptocurrency, it has quite the chance to succeed. As cryptocurrencies don’t involve a third party, for example, financial institutions or governmental procedures, people feel a sort of freedom to use them. This gives digital currency the potential to overthrow the fiat currency from the market. Hence, many stockbrokers are coming together by bringing cryptocurrency brokers for users’ convenience. With that said, you need to check the important factors while deciding to choose a cryptocurrency broker.
1. Ensure the authenticity
It is essential to do market research first. Researching ensures you are choosing a legitimate platform. Security should be the next big criteria you need to think of, as a platform will hold all the important information regarding trades. We like keepabit.com’s approach to opening an account. You need to provide the necessary information of yours as documents to them. After you provide information to them, Keep A Bit reviews your info to check if they are authentic. After they are satisfied, you will receive a link via mail for opening an account. By opening an account this way, ensures that all their active users are genuine and not fakes. Next, you need a secured brokerage platform to do your trading without any worries.
2. The purchasing methods
There are many ways of purchasing cryptocurrency through a brokerage platform. Some exchanges need deposits by credit/debit cards, bank transfer, PayPal, etc. If you don’t have cryptocurrency but want to join the exchange, it is substantial to choose a platform that accepts fiat currency. You also need to make sure how long does it take for various payments to be processed. Knowing these things will help you judge brokers better and act upon the decisions. Keep A Bit is very flexible in terms of payments. It assures instant deposits and lets you use Credit Cards, Wire Transfer, and eWallet.
3. Fees and charges
Fees and transactions are different for different platforms, so don’t just pick and choose a broker. Take time and compare various brokers. For example, some broker charges $100 minimum account charge while others don’t charge a fee. Hence, it’s best to be calculative and see where you can save your money.
4. The platform
This might seem like a trivial matter, but this can be a big deal for most investors! One of the most important aspects for an online broker platform user is the platform’s functionalities and interface. Intuitive interface, great layouts, fast and efficient platforms always get a thumbs up from the investors as they help you deal with things faster and easier. Many keepabit reviews suggested that the website is responsive, which means you can trade on the platform using your phones. Keep A Bit has two parts of the trading platform – for buying and for selling cryptocurrencies. This gives users more flexibility to choose according to their priority without overloading a single page. The platform works exceptionally fast and takes less than ten minutes for payment procedure.
5. Customer support
Not all users of a cryptocurrency platform are seasoned traders, so by opening multiple communication methods, the platform should make it easy for the new or amateur traders to communicate with the service center to get help or a problem sorted. As a trader, you should choose a broker platform with more than one type of customer support. Keepabit.com shines in this aspect as they feature 3 profound ways of connecting with their users – by live chat, calls, and emails. We like live chat because you get to communicate with the support within a few minutes. The calling service is also fast but not as swift as live chats. If you don’t enjoy texting, then this method of conversation will help you more. Emailing comes as the third method because you can easily send an email to their company when you are not getting any support from the first two methods. A minor drawback is that they mostly respond to an email in 24 hours. So, email should not be your first priority if you are in a hurry and seek help.
6. Supported cryptocurrencies
Most exchange platforms support Bitcoin and Ethereum. While this is good as Bitcoins and Ethers are the most successful digital currencies in the market; however, platforms need to add in more digital money for the ease of the user. It’s high time platforms need to rethink this decision. They should understand that with each day, the cryptocurrency is slowly spreading everywhere in the world. Hence, while choosing a platform, make sure it incorporates as many tokens and currencies.
These are the 6 most important things you need to check before selecting a cryptocurrency broker. We prefer to Keep A Bit because we found some important aspects that they did right. We have covered those for you in this topic, such as the security it provides, excellent customer support, reasonable price charges, etc. If you are still unsure about it, then do some research on the internet, and you will find many Keep A Bit reviews yourself.