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3 Factors To Consider While Selecting A Bitcoin Exchange

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Buying and selling Bitcoin is getting easier by the day to those that know the basics of it. Before buying Bitcoin, there are several things that must be in place. They include: a secure connection to the internet, a mthod of payment, some documents and so on. The most important thing you need as a Bitcoin investor is a Bitcoin exchange account.

What are Bitcoin exchanges?

A Bitcoin exchange is an online platform where you can buy and sell your Bitcoins. It is a market place, a digital one of course, where traders can buy and sell Bitcoins or any form of cryptocurrency. It acts as a middle man or intermediary between Bitcoin buyers and sellers. An example of a Bitcoin exchange is Binance, which we should be familiar with. Another example is Prestmit, which once again, you should be familiar with.

Note that a Bitcoin exchange is different from a Bitcoin wallet. A Bitcoin exchange is a platform that allows buyers and sellers while a Bitcoin wallet is a digital bank that allows users to store their coins.

To buy or sell Bitcoin on an exchange, a user has to register with the exchange and go through a series of verification process to authenticate their identity. Once authentication is successful, an account is opened for the user. As a user, you need to transfer funds into your account before you can buy coins.

Like Binance, there are lots of exchanges. Lots of them! This is why you should be careful when selecting your exchange. In this article, we will be discussing 3 factors you need to consider before you choose a Bitcoin exchange and start trading. These are the top items in our checklist that we consider important before selecting an exchange. Note that these are just suggestions so we suggest you do your homework as well.

  1. Security

This is one very important factor that shouldn’t be overlooked and that is why it comes first. Your money is important and you should make choices that will not affect your money negatively. Is the exchange site well secured and cannot be hacked? Does the exchange offer secure logins along with two-factor authentication? These are some of the questions to ask. Your answers would help you select an exchange.

 

  1. Speed of payment

How quickly will you get paid? Getting paid is one thing while getting paid fast is another thing. Speed of payment is very important. How fast do they pay you after a transaction? Do you have to wait for hours to get your coins or to get paid?

 

  1. Reputation

How reputable is this exchange? The answer to this question will only be gotten when you discuss it with people. Ask around! Search for feedback about the exchange. Check customer reviews and make sure it is rated well. A well reputable exchange platform will be of great benefit to you.

An example of a Bitcoin exchange that checks all of the above is Prestmit. Prestmit is a crypytocurrency exchange platform based in Nigeria that specializes in trading, buying ansd selling all kinds of digital assets including gift cards, airtime and data top up. Bitcoin, Ethereum, Litecoin, DOgecoin, all coins, Prestmit trades them.

Why should you choose Prestmit?

Selecting an exchange is one of the most tedious yet necessary tasks ever. Getting the best exchange is one of the best things that can ever happen to a trader. Prestmit is one of such exchange. Not to brag but:

  1. We have over 40,000 active users and counting, who trust us with their assets and we never failed.
  2. We have completed over 92,000 trades with over 98% positive review.
  3. Swift payment. You get paid within 5-15 minutes after a successful transaction.
  4. We operate 24/7

That being said, please download our mobile app to get started or click here to visit our website.

NEED HELP?

If you are ready to trade or you need help, please click here to contact PRESTMIT on our official WhatsApp line at 07026290389

You can also make use of the live chat on our website at any time. We are always ready to help you with anything.

You can also send us a mail at [email protected]

Happy trading!