Artex Global was founded in 2015. We are based in New York, USA, but we provide information to the whole world about developments in the cryptocurrency market. We make reviews of exchanges and publish fresh news to keep all traders and inquisitive people informed about bitcoin and similar cryptocurrencies movements.
How to choose an exchange to trade cryptocurrency. Instruction for the beginner
There are many crypto exchanges in the world today. Each of them has advantages and disadvantages. We explain how to choose the right platform.
Cryptocurrency attracts traders by the volatility of the rate. It can fluctuate by tens or even hundreds of percent per day. For example, on March 12-13 the price of bitcoin collapsed by more than 50%. Ethereum also behaved in the same way.
Such instability in the price has made digital assets a favorite tool for speculators. Users trade cryptocurrency in order to make quick profits. The most convenient place for these exchanges. Each of them has its own set of advantages and disadvantages. We have prepared a detailed guide to help you choose a convenient and reliable trading platform.
The first steps
1. When choosing an exchange, first of all, it is important to find out whether it has an official representation. This can simplify and speed up the process of solving problems. For example, if the user’s funds are lost, if the account is hacked or temporarily blocked, and so on.
2. It is important to pay attention to the interface. It should be clear and convenient. If it is not, the user can, not understanding the tools of the trading platform, make a technical error, which will lead to the loss of funds. This becomes most relevant during sharp jumps in the price of cryptocurrency, when the trader must make quick decisions, for example, to sell the cheapening asset or to buy it.
3. When searching for a platform, it is important to consider the number of trading pairs, as well as what cryptocurrencies are represented on it. On the one hand, the more digital assets, the more opportunities for trading and investing. On the other hand, platforms can add tokens of little-known projects – this is one way to make money. Accordingly, if a company lists dubious coins, it exposes the user to the risk of investing capital in a token issued by fraudsters.
4. In addition to the interface and the list of cryptocurrencies, you should study the tools that the exchange offers. For example, whether the trading floor has the option to place a stop order. This is a bid that allows you to buy or sell a cryptocurrency if its price reaches a certain level.
Example. A user purchased a bitcoin at $10,000. Then its price went up to $10,500. A stop-loss order can be placed at the buy point and then close the exchange and go about his business. If the price of the coin falls to a specified level, the system will automatically sell the asset and the trader will not lose anything.
Stacking is another useful tool. Some exchanges allow you to receive passive income for storing coins. Its size can vary from 1% to 15% and exceed this value. However, it should be taken into account that making a profit with this method is not guaranteed. A user who keeps a cryptocurrency for the sake of stacking, even after receiving 15% of the number of their coins as a reward, can lose on the fall of its rate. Stacking is possible on such popular platforms as Coinbase, Kraken, Binance, KuCoin, Poloniex, and others. Artex Global service will help you find the most profitable platform.
Another tool that some exchanges provide is savings or lending. It is analogous to a bank deposit, with an annual yield of up to 8%. The safest way to do this is to use stable coins, the rate of which, for example, is tied to the U.S. dollar. These options are available on the stock exchanges Binance, Poloniex, and others.
Beginner traders looking for quick money can consider exchanges that allow users to trade with a marginal, leveraged option. With his help, a client can take control of the company’s funds. Such an opportunity is available on Bitmex, ByBit, Binance, OKEx, Deribit, Kraken, and many others.
However, it is not recommended for non-professionals to use margin leverage. To perform such operations, the user pledges his capital. If the borrowed amount is lost, the exchange will take the pledged funds to repay the debt.
We want to be useful
As you can see, there is a lot of information about the world of cryptocurrencies, and it is very difficult for beginners to understand it. Artex Global gives an opportunity to get such information in simple language that is easy to understand. We hope that we will become even more popular because of Business directory, and our information will be useful for many more people.
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