IMHO Reviews Has Launched A New Section Reviewing Cryptocurrency Exchanges

There are two articles on the site so far. The first one looks at the 8 best cryptocurrency exchanges for bitcoin and altcoins in 2021. This article begins by giving a short introduction to cryptocurrencies and warning investors about their fickle nature. It then details the 4 most important qualities that need to be considered when picking a cryptocurrency exchange for one’s own transactions.

A cryptocurrency exchange should be secure. In an age when hacks and digital intrusions are commonplace, there is no room for error for a system, that holds as much potential wealth as a crypto exchange, to be vulnerable to attackers. There have been many notorious hacks in the last few years, such as the Mt. Gox hack, that have shown just how susceptible to malicious intent these supposedly secure exchanges are. Since the markets are unregulated, the risk is even higher for newer investors. The minimum level of security that is expected in 2021 is two-factor authentication. Crypto exchanges should also store most of their assets offline or in “cold” storage. They should also allow users to withdraw crypto to their own private wallets as it is much secure than letting them remain on an exchange.

The next consideration is the fee that a crypto exchange charges. These fees can quickly add up and blindside a new user. Another important detail to check is the level of customer service that the crypto exchanges are providing. With a lot of money on the line, it is recommended to find an exchange that promptly answers all of the user’s questions and assists them whenever they get stuck. Crypto exchanges that charge lower fees are generally known to skip on providing good customer support. The final consideration is the selection of coins to trade.

The article then goes into a point-by-point comparison of some popular crypto exchanges such as Binance, eToro, Coinbase, KuCoin, Voyager, Gemini, Kraken, Changelly, and Cex.io. It also distinguishes them on other parameters such as the verification process, the withdrawal method, and the payment method. The article then concludes by picking the best crypto exchanges based on parameters such as size, safety, most offered currencies, and least fees.

On the list of crypto exchanges already reviewed by the website, one of the exchanges is Binance, the biggest cryptocurrency exchange in the world as of 2021. In addition to the standard buy, sell, send, receive, and exchange features, Binance also offers limit orders, market orders, stop-limit orders, trailing stop orders, post-only orders, peer-to-peer trading, margin trading, and one-cancels-the-other orders. Due to its robust set of features, ability to make deposits in fiat currencies, and the presence of the unique learning resource called Binance Academy, the crypto exchange is recommended as a good choice for beginners.

The article then presents an overview of Binance’s most important features. It goes on to say that the crypto exchange is safe and legit due to its high volume of daily trades and security features such as two-factor authentication, multi-signature functionality, PIN codes, and recovery methods. The crypto exchange serves over 180 countries, including the US. However, it is not available in 7 US states due to regulatory limits. It supports more than 500 cryptocurrencies for global users and more than 50 for US residents.

The article then talks about the times in the past that the crypto exchange was breached, though it reiterates that the money was recovered and is still one of the safer options. The article then discusses Binance’s verification methods, fees, supported payment methods, withdrawal methods, the Binance coin wallet, and the Trust Wallet. The article concludes with a list of Binance’s pros and cons.

Readers can expect more IMHO Reviews crypto exchanges reviews in the near future.