3 Tips for Choosing a Crypto Exchange

You acquired some crypto assets, but you feel it’s time to transfer them to another currency. For example, some Monero tokens are in your digital wallet, and you’d like to convert them to Bitcoin. Experienced investors would first use the XMR to BTC converter, and then proceed to selecting a reliable crypto exchange.

This guide will help you pick the best platform to trade your digital assets. We’ll begin with major tips on how to select an exchange and then proceed to the top services currently available.

How to Choose an Exchange: 3 Tips

The important thing is not to rush your decision. And remember, nobody forces you to use a single exchange at all times. Give multiple platforms a chance and pick your favorite based on the assets traded. Here’s what to consider to confirm that an exchange is a good call.

1. Security

Your top priority should be security, which means the platform should provide a safe haven for all your trades. The best exchanges use the latest security protocols to ensure there aren’t server breaches. That ensures your funds and data remain safe at all times, and there’s no danger of cyberattacks.

Always look for a reputable platform, and avoid those that appeared recently as they can be potential scams. Data encryption should be applied by exchanges since it ensures that user communication remains secure and confidential. Monitoring systems and tools that detect potential intrusions could also be helpful to promote a platform’s safety.

2. Real Anonymity

Crypto exchanges often promise anonymity without actually offering it. The maximum level of privacy is the one you’ll find on truly anonymous platforms. Those are exchanges that don’t require any personal data or registration. It means that the exchange doesn’t even ask for your name or email address. It provides maximum privacy while also contributing to transfer speed since you don’t waste time logging in or registering.

3. Range of Available Crypto

The exchange you use should have the coins you plan to trade and acquire. Most exchanges will offer major currencies, such as BTC, ETH, and XMR. Many will add hundreds of other trading pairs of less-known assets to attract experienced traders. Apart from having your preferred currencies, the general rule is the more trading assets supported, the better.

Top 3 Crypto Exchanges

Our expert team analyzed the market and discovered the top three crypto exchanges to try. Here are the suggestions.

1. Godex

Godex.io has been around for years, and it has established a strong reputation among traders. It’s a non-custodial platform, so you keep control of the assets at all times. The lack of a registration process or any data provision ensures true anonymity. Security is at the top level since Godex applies all the latest protocols on its platform.

The exchange supports over 300 coins and a vast number of trading pairs. After entering the amount to send, you immediately see the estimated amount to receive. Godex has a fixed rate system. It means the promised rate will remain locked to ensure you get the promised profit despite the potential market volatility. Apart from being perfectly incognito, you don’t have to worry about trading limits on Godex since you can swap as many coins as necessary.

2. SimpleSwap

SimpleSwap is another non-custodial platform. You don’t have to sign up to conduct trades, but there’s a registration option. If you go through with it, you can expect bonuses in terms of SWAP coins. 

Apart from hundreds of cryptocurrencies, the platform supports buying or selling digital assets for fiat money. SimpleSwap has a diligent support team ready to help with all issues related to the site. The platform allows choosing between fixed or floating rates for trades, depending on your preference.

3. 1inch

1inch is a decentralized app that provides access to different DeFi services. Users have over 12 million wallets on this network, and over 76 million trades have been executed so far. 

The platform supports hundreds of different currencies, and all major players are there. 1inch works with major security experts, such as Blowfish and TRM Labs, to ensure their services remain secure. The swapping process is simple, and users will appreciate the modern layout.

Start With a Reliable Exchange

Although there’s a restricted number of trustworthy crypto exchanges, you can still find platforms that’ll meet your expectations. Always go with an anonymous platform that doesn’t collect your personal data. The exchange should also be secure and support the currencies you need while offering swift and simple trades via a user-friendly interface. Once you find an exchange that fits your preferences, don’t hesitate to use it whenever necessary.