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Cryptocurrency exchanges a.k.a. digital currency exchanges (DCE) come in all shapes and sizes. Additionally, each one has its own reputation, which we completely review here on our website. Each exchange offers its own payment system, tools to monitor cryptocurrency fluctuations as well as other features that include:
Some exchanges permit you to exchange fiat currencies to the purchase of cryptocurrencies; while, others will only accept payment in cryptocurrency. Your cryptocurrency can then be exchanged for another cryptocurrency using the DCE. In the latter case whereby, the exchange does not accept fiat currency, you will need to fund your account via a cryptocurrency wallet and transfer money from this exchange to your wallet. .
Exchanges can either derive from the creators of digital currencies. On the other hand, the vast majority of all Cryptocurrency Exchanges are independent of the creators that simply allow those involved in the buying, selling, and exchanging of cryptocurrency to utilize the exchange to facilitate these activities.
We use several deciding factors to rate a DEC.. We break down every cryptocurrency exchange that we examine into sections, and then we examine and review each area. This helps us reach an eventual overall rating of this DVE in question.
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You may notice that no one size fits all in our reviews. We try to cover each section using the same subsection on each review, which means that you can easily navigate each review and get to the exact point of information that most interests you. Nonetheless, you will notice some reviews have unique or different sections offered to this review only because what they have to offer is exclusive to their exchange. .
Take Binance for example and check out their exchange tools. They offer their own BNB coins, and this will be something not many exchanges provide, and so when we review websites such as these, we add new sections in to give you all the information you need to know about this uniquely designed DCEs BNB offering. .
There are also companies such as Poloniex that provide trading, exchange services and a special lending feature. We would then add in a section about the Poloniex lending facility, which will be a read review feature you seldom see on any DCE, not to mention the fact that not many exchanges offer both margin trading as well as cryptocurrency exchanges all under one roof. .
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Just like any online marketplace, there are bound to be positive and negative testimonials and comments about each DCE. Some are only reviews, and of course, several are unjust reviews. We aim to expose the rouge digital currency exchanges; such as Bitconnect in which their Ponzi scheme crashed the value of their currency because they utilized an unsustainable business model. .
On the contrary, the large bulk of exchanges are honest companies which use risk management, higher tech technology and supervisors that are experts within the financial industry. They understand how to diversify their own portfolio as well as supply a user-friendly interface that helps their members trade and exchange cryptocurrencies effortlessly. .
To gain an overall trust rating we now the following important variables that help us give you an in-depth investigation of exactly what each DCE Offers by testing:
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The summary just tells you about the company or DCE that you will be dealing with. Most of the information in this section will be a historic summary of this DCE, where it's established, if the company has registered with any financial regulatory boards. Additional information will be based on the way the DCE was formed and how many years they have been active. .
We might also provide some additional information which could be of interest. Maybe you want to know more about the owners or the owners remain anonymous. How hot the exchange is in regard to visitors to the site and out of which countries the visitors comes from.
In addition, we may mention any bad or good media that the company may have picked up since the DCEs inauguration into the digital world of cryptocurrencies in addition to how they dealt with problems in the past and the way in which they plan to or have continuously improved.
Obviously, the one reason people come to opt for a digital currency exchange (DCE) is that they want to exchange currencies. That means that you may own Bitcoin, however you believe that this cryptocurrency is now losing its long-lasting equilibrium, but you see that Ethereum is potentially going to hike in value.