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If you have ever exchanged cryptocurrency, you know that most cryptocurrency exchanges require you to register an account and further, verify it. Some exchanges impose limits on withdrawals, and you can be raising them by adding different verification levels (e.g., you might start with the verification of your residence address, then, they will need your ID scan, and similar).
These procedures are time-demanding but this is even not the biggest drawback. The main disadvantage of all these procedures is the need to expose your personal and financial information online. It might attract hackers, especially if you trade with significant sums.
Exchanges That Don`t Require Registration Exist
How can you avoid exposing your information and putting you and your funds under a risk?
The most evident solution is to look for an exchange that has given up in all these procedures. Along with this benefit, a good instant cryptocurrency exchange online service will offer a top safety level. Even though you don’t need to provide your data to register, you still need to have your coins protected. An advanced SSL certificate and other safety measures are a guarantee that you can swap your cryptocurrency safely.
Check Other Benefits Your Exchange Offers
Along with the needed safety level, your preferred exchange might offer a lot of other benefits. You might have your priorities and requirements when choosing an exchange but still, we would like to offer you some hints on what to look for:
- Validated coins: it means that the exchange guarantees you that all the coins on the platform are of legit origin. Thus, you cannot buy coins that have been involved in any fraudulent activity.
- A choice between a fixed and a floating rate: this choice will allow you to make decisions based on your needs, experience, and knowledge.
- No transaction fees: you might believe this feature isn’t so crucial if you exchange small amounts of coins. However, once you start trading with big sums, you will see how much you can save if even the smallest fee is absent.
- User-friendly interface: many people think this is a benefit that new users shall be looking for. However, an easy-to-use interface means effortless trading which is crucial for experienced traders, too.
- The most beneficial exchange rates: now, any exchanges develop their own tools to look for the most convenient rates available in the market. you don’t need to compare conditions manually. Everything is done by a tool.
- Finally, transparency: some exchanges will provide you with all the details on the performed transaction, including a receipt. This option isn’t available on any platform, thus, look for a platform, such as LetsExchange, if it is crucial for you.
This is not a complete list of all the benefits you might get if you trade cryptocurrency on one of the best platforms. There are many more options to benefit from. All you need to do is to make a list of the features you want to see on the platform where you trade and find your preferred cryptocurrency exchange.