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Cryptocurrency exchanges a.k.a. digital currency exchanges (DCE) come in all shapes and sizes. Plus, every one has its own reputation, which we fully review on our site. Each exchange offers its own payment system, tools to monitor cryptocurrency fluctuations as well as other attributes that include:
Some exchanges allow you to exchange fiat currencies for purchasing cryptocurrencies; while, others will only accept payment in cryptocurrency. Your cryptocurrency can then be exchanged for another cryptocurrency using the DCE. In the latter case whereby, the exchange does not accept fiat currency, you will need to fund your account via a cryptocurrency wallet and transfer money out of this exchange to your wallet. .
Exchanges can derive from the founders of electronic currencies. On the other hand, the vast majority of all Cryptocurrency Exchanges are independent of those creators that just allow those involved in the buying, selling, and exchanging of cryptocurrency to utilize the exchange to facilitate these activities.
We utilize several deciding factors to rate a DEC.. We break down each cryptocurrency exchange that we review into sections, and then we test and review each area. This helps us reach an eventual overall rating of this DVE in question.
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You will notice that no one size fits all in our reviews. We attempt to cover each section using the exact same subsection on each review, so you can easily browse each review and reach the exact point of information that most interests you. Nonetheless, you may see some reviews have unique or different sections offered to the review only because what they must offer is exclusive to their exchange. .
Take Binance for instance and take a look at their exchange tools. They offer their own BNB coins, which is something not many exchanges offer, and so when we review websites like these, we include new sections in to give you all the information that you need to know about this uniquely designed DCEs BNB offering. .
Additionally, there are companies like Poloniex that provide trading, exchange solutions and a special lending attribute. We would then add in a section about the Poloniex lending centre, 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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Just like any online marketplace, there are bound to be positive and negative testimonials and comments about every DCE. Some are only reviews, and naturally, some are unjust inspections. We plan to expose the rouge digital currency exchanges; such as Bitconnect in which their Ponzi scheme crashed the value of the currency because they utilized an unsustainable business model. .
On the contrary, the huge majority of exchanges are honest companies which use hazard management, higher technology technology and directors that are experts within the financial industry. They understand how to diversify their own portfolio in addition to provide a user-friendly interface which helps their members trade and exchange cryptocurrencies smoothly. .
To gain an overall trust rating we now the following important factors that help us give you an in-depth investigation of exactly what every DCE has you can try this out to offer by testing:
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The overview just lets you know about the company or DCE that you will be dealing with. The majority of the information in this section will be a historic summary of this DCE, where it is established, if the company has registered with any financial regulatory boards. Additional information will be based on how the DCE was formed and how many years they have been active. .
We might also provide some additional information that could be of interest. Maybe you would like to know more about the owners or the owners remain anonymous. How hot that the exchange is in terms of visitors to the website and from which countries the visitors comes from.
In addition, we might mention any good or bad press that the company might have picked up since the DCEs inauguration into the electronic world of cryptocurrencies as well as how they dealt with issues in the past and the way in which they plan to or have continuously improved.
Obviously, the one reason people come to choose a digital currency exchange (DCE) is that they want to swap currencies. This means that you might own Bitcoin, however you feel that this cryptocurrency is now losing its long-lasting stability, but you notice that Ethereum is potentially going to increase in value.