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CryptoVantage, a leading cryptocurrency news platform, has recently published a revised list of safe and secure cryptocurrency exchanges.
Evan Jones, a contributing author at CryptoVantage, has written a highly informative article on how to select the most secure crypto exchange for both beginners and experienced investors.
“There were two big motivators to update this list,” says Jones. “Firstly, there’s been a massive surge in the price of crypto-currencies over the last 12 months, which has renewed the interest in people investing in the Crypto-Market. Secondly there have been some spectacular collapses of well-established exchanges, which have left investors without a cent.”
A cryptocurrency exchange acts like a gateway into the world of digital assets. This is where investors swap their cash for cryptocurrency, perform trades, hold, and eventually sell back into cash. Choosing the right exchange is important for the investor: to ensure that the investment is safe, and the exchange is stable.
“Whether the user is a beginner or an experienced trader, it’s important to regularly evaluate whether the exchange you use is fit for purpose,” Jones adds.
Some exchanges work very well for beginners who only which to buy-and-hold their currency, effectively betting on the long-term growth of the investors. More experienced traders are looking for added functionality to allow for inter-currency trades, as well as to take advantage of arbitrage between exchanges. Arbitrage is the simultaneous purchase and sale of a cryptocurrency on different exchanges to exploit price differences for a risk-free profit.
“But with exchanges comes inherent risk,” says Jones. Market volatility, cyber-security threats, hacking, and fraud, have recently made people wary of cryptocurrency and exchanges. Considering these threats, choosing the right exchange becomes even more important.
“You don’t have to stick with one exchange for life,” says Jones. “Think of it like a bank account. When you join college, you may choose a bank account that suits those needs, but as you grow up your banking needs change, and you may need to switch banks to find one that fulfils the new needs.
“Exchanges are the same. The exchange you were using 5 years ago may no longer be fit for purpose. It may not provide proper security, encryption, or fail safes that can protect your investment. It’s really important to take stock of your current exchange, and move to a new one, if necessary,” he concludes.
Readers can find the best exchange for their needs by reading Jones’ article on the safest crypto exchange and open up a free account immediately.
About CryptoVantage:
CryptoVantage is a premier cryptocurrency publishing platform dedicated to educating users through unbiased product reviews, comprehensive how-to guides and daily news articles, ensuring users have the knowledge needed to navigate the crypto market safely and effectively. Serving as an educational and informational resource, CryptoVantage.com caters to both beginners and experienced investors.
Contact Info:
Name: Evelyn Harris
Email: Send Email
Organization: CryptoVantage
Website: https://www.cryptovantage.com/
Disclaimer:
This press release is for informational purposes only. Information verification has been done to the best of our ability. Still, due to the speculative nature of the blockchain (cryptocurrency, NFT, mining, etc.) sector as a whole, complete accuracy cannot always be guaranteed.
You are advised to conduct your own research and exercise caution. Investments in these fields are inherently risky and should be approached with due diligence.
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