As cryptocurrency is a relatively new phenomenon, investing and trading in these currencies is overwhelming. Investors fear to trade and invest as there has been news about frequent scams. Undeniably there have been scams in the cryptocurrency market, and the possibility is not fully eradicated. But at present, the safety in investing and trading in cryptocurrency has never been before. The trading platform is user friendly; comfortable for both beginners and professionals as there are many tools basic and advanced. Safety and security is the foremost concern for investors who want to trade and purchase cryptocurrency for long term.
Exchanges are safe, easy to use
Coinbase is the most extensively used cryptocurrency exchange in the US. This exchange was established in 2012, following the launch of Bitcoin code in 2009. Other new innovative, transparent, investor-friendly trading platforms are coming up. Global crypto community trade and communicate and shares their views. These exchanges are safe, easy to use and have no or negligible barrier to enter the cryptocurrency market.
These licensed, regulated exchanges provide insured custodial accounts to traders and investors to store their digital assets. If there is a fraudulent activity from your end, the insurance gets nullified. These custodial accounts are easy to use for new investors, but access is privileged to exchange, not traders.
The advanced features on the exchange allow you to evaluate your trades to horn up your skill and performance. In social trading, you have the option of following other professional traders. The social trading platform for cryptocurrency has transformed the live trading experience. It is quite convenient to learn trading strategies from professionals by watching live trading or auto trading with them. The veterans also enjoy the appreciation from novice traders while they showcase their expertise in trading. Furthermore, the fee structure is economical; more tools and indicators can be applied on charts for an extensive technical study.
Centralized and Decentralized exchange
Centralized Crypto Exchange acts as a third-party guarantor between the buyer and the seller. A company operates and manages the transaction, thereby making it more reliable and transparent. Almost 99% of crypto trades happen through a centralized exchange. Decentralized exchange (DEX) facilitates peer to peer transaction without an intermediary. Some traders prefer DEX over a centralized exchange. But you cannot trade fiat currencies for cryptocurrency in decentralized exchange. If you want to open an account with DEX, you need not fill the KYC form giving you complete anonymity and privacy. As there is no interference by a third party in DEX, the possibility of market manipulation is the least.