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A Complete Guide to Choosing a Bitcoin Exchange!

Bitcoin is the most valuable cryptocurrency, and everyone wants to invest in it. It is an excellent investment, but you need to find a reliable and trusted bitcoin exchange where you can purchase bitcoins easily before buying bitcoins.

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You can use bitqh login if you want to invest in bitcoins. There are several bitcoin exchanges over the Internet, but it is quite challenging to choose the best one out of them. Some essential factors that you need to focus on while selecting a bitcoin exchange are mentioned below.

Privacy level 

One of the most crucial factors to consider while choosing a bitcoin exchange to buy bitcoins is privacy. Most of the online bitcoin exchanges ask for ID proof before you buy bitcoins, which is why you need to ensure that it keeps your information secure and respects your privacy.

There are several users who don’t want to reveal that they are buying bitcoins, and for them, it becomes more important to find an exchange that offers maximum privacy. 

So, you must check the exchange’s privacy policy before submitting any ID proof or revealing any of your personal or financial information. Privacy is highly important nowadays as anyone can use your personal information or data for unlawful purposes, so you must ensure that the exchange you have picked is to keep your personal information secure.

Buying limits 

Most bitcoin buyers are not aware of this feature, but some bitcoin exchange has a specific buying limit. If you wish to invest a lot of money into bitcoins, you must check the limits of the exchange so that you won’t have to face any inconvenience at the last moment.

Each Bitcoin exchange has a varying buying limit, and some of them allow the users to increase the limit by providing any ID proof or following other instructions.

Different bitcoin exchanges have varying buying limits, and the limit also varies according to the payment method that you are using. For instance, the buying limit with credit cards is low, whereas if you make a bank transfer, you can get higher buying limits.

So, before you choose a bitcoin exchange to purchase bitcoins, you must have a look at the buying limit and pick the one that offers a maximum limit with minimum terms and conditions.

Transaction speed

The price of bitcoin fluctuates a lot, so you need to be immensely quick while buying bitcoins so that you purchase it at the minimum price possible. The buying process sometimes takes a lot of time, which makes you miss an excellent opportunity to make some profits.

So, while choosing a bitcoin exchange, you must check the transaction speed offered by it so that you can complete the purchase as soon as possible. Usually, the first transaction takes some time as once you have made the initial purchase, the next purchases are quiet and convenient.

If we talk about the fastest ways to buy bitcoins, the bitcoin ATM will surely top the list. But currently, there are limited bitcoin ATMs, and if you don’t have one in your area, you must choose an online exchange that allows you to buy bitcoin instantly so that you can make a purchase at the best price possible.

Reputation and reviews 

The reputation and image of a bitcoin exchange tell a lot about it. So, if you are confused between a few bitcoin exchanges, you can simply check their reputation as it will give you a clear idea about which one is the best.

One of the simplest ways to check the reputation of any bitcoin exchange is by reading some reviews about it. There are several online platforms where users post reviews about different bitcoin exchanges, and you can read them to check the reputation of the other exchanges.

It will make it easier to compare different exchanges and learn about all the features and drawbacks which help you to choose the one that suits that to your needs and requirements.

Charges and fees

Bitcoin exchanges are not free platforms as they charge a specific fee for the services that they offer. You must check the fees before you choose any exchange as it varies according to the payment method used by you. So, you must choose a bitcoin exchange that charges a reasonable fee and offers the best features and services.

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Guest Author

Crypto Journalist and Editor of guest articles in CoinPedia. Also, Outreach & Partnerships Manager. Contact me: Partner@coinpedia.org

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