Crypto exchanges are an essential part of the cryptocurrency world. They allow users to buy and sell cryptocurrencies and digital assets. There are a few things to note when diving into crypto exchanges. Dan Schatt and Domenic Carosa of Earnity want people to see the benefits of crypto exchanges.
Accessibility. Not all countries are ready to embrace cryptocurrencies. It’s critical to choose a crypto exchange that can be accessed in one’s country. An exchange must also offer coins approved by the state where the users reside.
Security. Unlike holdings like traditional purchases with centralized financial institutions, crypto exchanges don’t always come with insurance, according to Earnity experts Dan Schatt and Domenic Carosa. However, some exchanges offer insurance policies to secure digital currencies from fraudulent acts.
Liquidity. Users seeking to buy, sell, and trade coins must find an exchange with sufficient trade volume. An exchange with enough volume can help ensure one’s holdings enjoy liquidity. A user has a better chance of buying and selling the crypto they hold at the most favorable price when many trades happen within the exchange.
Education. Earnity operates with the objective of educating individuals new to the world of cryptocurrency. The best exchanges offer educational tools to help global users understand how digital currencies work and how best to buy, sell, and exchange their coins.
Storage. An exchange that permits them to keep their cryptocurrencies within their online account would be the best option for beginners. Once a user becomes savvier, only then should they try to move their coins elsewhere.
Executives of Earnity Dan Schatt and Domenic Carosa look to educate people through their platform. Other factors to consider when choosing crypto exchanges are tax information and fees. These can be tricky to understand and manage for beginners. However, learning about them instead of later would be the best course of action.