(Newswire.net — July 12, 2022) — The growing popularity of cryptocurrencies during the later stages of the past decade is notable with their increasing market capitalization. Some crypto platforms allow users to trade using crypto coins, fiat currency, or stablecoins such as dollar-backed tokens (USDT). KuCoin is among the most preferred trading partners offering the following features available on a good crypto trading platform:
High Trading Volume
A crypto platform with a large scale of Cryptocurrency exchange transactions reflects the numerous investors trading using the supported assets. Traders look for networks representing a substantial percentage of the total crypto market cap because it triggers confidence in potential returns. Finding a trading space that boasts many active investors is important before investing your money in the trades offered.
The platform’s trading volume indicates the amount of value in Cryptocurrency assets traded since it went live for public trading activities. The value indicates the successful exchanges on the network where traders reaped profits similar to what you desire to earn.
Low Trading Fees
The best thing about Crypto exchanges is that they are cheaper than traditional securities exchanges. The trades happen over blockchain networks, eliminating the expensive banking corporations requiring hefty payments. However, different crypto platforms attract varying trading fees that ultimately rely on the value of traded assets. Make sure to find a platform that charges the lowest percentage for every exchange you execute to ensure optimal earnings.
The exchange costs depend on unique traded assets and where you want to transact to or from using the platform. You will incur higher costs to transfer crypto-assets to or from wallets on different blockchains than those on the same network. For example, exchanging the Terra Luna Classic (LUNC) coin for Bitcoin requires blockchain bridges that increase transaction costs. However, a LUNC/USDT exchange over the same network is cheap since the assets switch wallets but remain on the same blockchain. The platform with the best rates is perfect for your investments.
Security
The authentication requirements for exchanges to execute should also determine the crypto platform you join for investing. Some platforms implement smart contracts between peer-to-peer wallet holders where each party meets terms before value transfer occurs. These platforms use protocols to define what your trading partner must accomplish before releasing your assets, thus assuring their security and maintaining anonymity.
However, others demand to Know Your Customer (KYC) keys where each trader provides details, including social security number and name, before executing transactions. Set up two-factor authentication (2FA) on platforms to enable the use of a passcode and then biometric verification. 2FA will secure your data from hackers who can use it to defraud you by initiating fraudulent value transfers from your wallet.
Accessibility
Crypto platforms avail different resources to facilitate crypto exchanges between individuals on the network. Make sure to find a platform with diverse resources that make their services easily accessible for efficient trading. Many providers have mobile applications, website pages, and browser extensions, depending on your preferences.
Remarks
Crypto exchanges are a new way of investing and earning value by buying or selling preferred assets using provided features. The price volatility of these assets should make you think twice about ensuring that you invest in a relatively stable Cryptocurrency.