Today, crypto traders have a huge selection of platforms for making money – some projects are aimed at working with a limited market segment, others are huge financial ecosystems. But there is one general requirement for all sites – safety.
Cryptocurrencies are now very popular, not only among traders and investors but also among hackers. Many cryptocurrency exchanges are subject to hacker attacks. Since many sites have to keep a significant amount of assets in hot wallets to ensure fast trades, successful hacker attacks result in huge losses. To the extent that sometimes the exchange can no longer recover from the hack.
We recommend choosing sites that are protected against DDOS attacks, protected by modern encryption algorithms, and storing traders’ assets in cold wallets. It’s good if the user can also connect two-factor authentication in the personal account of the service. Online crypto exchange Alligat0r is one of them.
Which exchange is better to trade cryptocurrency?
Each exchange has its own approach to organizing trading, which forms a variety of choices in the market. Some platforms are more focused on security and licensed activities, taking into account all the requirements of regulators, therefore they have a complex multi-stage user verification system. Others seek to support the core mission of cryptocurrencies and keep their customers anonymous. Some are focusing on working with directives or margin trading.
So, each site has its own advantages and disadvantages, depending on the preferences of the trader:
- If you are a novice trader, choose platforms with an easy interface, the ability to open a demo account, and training materials.
- When confidentiality is paramount, choose exchanges without mandatory verification.
- Professional traders should pay attention to exchanges with a large selection of trading instruments.
- If you prefer to trade with leverage, carefully study the terms of margin trading on various platforms.
- Each trading platform also has its own set of currency pairs. In case you are interested in investing in startups, choose platforms that have a large assortment of trading pairs and regularly add new coins to the listing. If your trading strategy is focused on top cryptocurrencies, then any exchange that meets all your other preferences will do.
How to start trading?
Successful trading begins with training in technical and fundamental market analysis, study of specialized literature and the basics of trading. When starting a trade, we recommend that you adhere to the following tips:
- Remember that trading cryptocurrencies like Godex cryptocurrency is a high-risk activity. Allocate only free money for trading that you can afford to risk.
- Assets should be bought when they fall, and sold when they grow. Fluctuations in value are the norm, so when the rate drops, you should not succumb to the panic of the crowd.
- Don’t let greed drive you. It can be difficult for novice traders to take profits, as it always seems that more can be earned, until the moment when the market does not start bearish. It is better to fix a small profit, and then make a new call.
- Make buying and selling decisions based only on facts and analysis. Do not believe everything that is written in the exchange chat, and do not trust dubious signals.
- Be sure to write down all your strategies and orders. This will help to work on mistakes, calculate the average purchase price and build a competent trading strategy.