Financialcentre Broker Presents The Cryptocurrencies That Should Be On Your Radar
London, UK, 2nd Oct 2021, ZEXPRWIRE – Cryptocurrency investing is volatile and risky. The best way to invest in cryptocurrency long-term, we believe, is by finding a reputable exchange that has taken security measures such as insurance or self-regulation seriously enough to list them on their page–and then only using those exchanges for your trades!
Financialcentre broker Dave Goldman says the key thing about an exchange: you should beware of anyone who doesn’t tell you what kind of precautions exist before sending any money into this market—it may well end up being too late once something goes wrong because there’s no regulation like with stocks…
Best Cryptocurrency Exchanges:
One of the most important steps you can take to protect your investment is choosing a cryptocurrency exchange that has an excellent track record and security measures. Lots of exchanges have been hacked, causing customers to lose millions in customer funds! Here are some examples below of why it’s best to stick with reputable exchanges for your investing.
Competition Among Exchanges
You might ask, “Why should I use Binance instead of going on EtherDelta?” The number one reason is user experience. It’s not a good idea to go onto a decentralized exchange if you’ve never used one before… it will be confusing and rather annoying! Instead, we recommend using a centralized exchange until you feel comfortable enough with cryptocurrencies as a new investment.
As more exchanges begin offering similar services (with lower trading fees) it will become harder and harder to stay at the top of the game. Binance has relentlessly committed itself to provide some of the lowest trading fees in order to attract customers, but KuCoin is currently one of the cheapest options out there.
Another important factor keeping investors from flocking to a given exchange is trustworthiness–and this goes triple for cryptocurrency exchanges since they’re not regulated. In 2017 alone, over 100 cryptocurrency exchanges were hacked! The vast majority of these hacks took place because an exchange did not have sufficient security measures in place.
Don’t forget that even well-known exchanges have been hacked—like MtGox , which was once the largest cryptocurrency exchange in the world.
All exchanges will have fees attached to them, but some are significantly higher than others—which makes it even more important for you to do your research on each different option before deciding which one is right for you! Cryptocurrency investing is still very young and there are so many new cryptocurrency exchanges popping up all over the place–and they’re not regulated like stock markets, which means that if anything goes wrong, they may simply disappear overnight. This also means that most of them won’t last long enough to pay out their users who’ve lost money!
The Binance team has taken security measures seriously since its inception by implementing a variety of measures designed to ensure your investment remains safe :
-Binance has never been hacked.
-All of their available funds are stored in cold wallets.
-Your account is secured with two-factor authentication (2FA).
-Binance provides a multisig option to protect you against potential losses due to external attacks or employee embezzlement. No other crypto exchange offers this alternative besides BitFinex, but Binance requires no additional keys beyond the initial deposit address (this means they won’t charge you any extra fees for using it!)
-You can disable automated withdrawals on your account if desired, which will ensure that even if an attacker does gain entry to your account, they will not be able to withdraw your funds.
Security measures at Coinbase are also very secure! Here are some of their most important security measures:
-Coinbase never holds your cryptocurrency for you on any of its wallets–it’s always held by Coinbase. All withdrawal requests are sent directly to the wallet address that is provided by the customer. No one in Coinbase can access or control your cryptocurrency funds.
-They use bank-level security to store all digital currency in cold storage. This means that even if someone does manage to gain entry, they will not be able to access your funds without having access to both your login credentials and also the physical/digital wallet in which you store your private key. You will need both in order to withdraw funds from Coinbase!
-All traffic between Coinbase web servers and their data centers is encrypted.
-Your account is secured with 2FA.
-Coinbase has a history of providing excellent customer service and has never been hacked.
Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.
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