Making the right choice when looking for a place to trade your cryptocurrency is very important if you want to make a profit.
Crypto trading platforms are the best places to buy & sell cryptocurrency in Nigeria today. Since the Central Bank of Nigeria has issued an order to ban crypto activities in financial institutions, peer-to-peer trading platforms have been the solution for crypto traders.
There are numerous crypto trading platforms out there. If you really need to know where to have a wonderful trading experience then you must lookout for the best.
There are factors to consider when choosing a trading platform for the buying & selling of your crypto assets. You’ll need to research the specific details of each platform and choose the one that best suits your needs.
We’ll look at these factors to consider before entrusting your money into a crypto trading platform in this post. Before then, let’s have a sneak peek into cryptocurrency.
What is Cryptocurrency?
Cryptocurrency is a digitally encrypted, decentralized currency that is not linked to or regulated by any government or central bank.
It is based on blockchain technology, which is a distributed ledger framework. Bitcoin is the first cryptocurrency created which has led to the creation of others alike known as altcoins.
Cryptos are categorized as virtual or digital currencies. They were originally developed to provide an alternative mode of payment for online transactions.
However, cryptocurrencies have not yet been generally adopted or legalized by many nations. They are actually too unreliable to be used as payment methods.
What is a Crypto Trading Platform?
A cryptocurrency trading platform is an exchange where you can trade digital assets. This means a place that allows you to buy and sell cryptocurrencies.
Some of them also allow you to exchange cryptocurrency with fiat currency. These platforms allow you to understand how the transactions are carried out for digital assets.
Some of these crypto trading platforms deal with multiple crypto assets.
Why You Have To Make a Research Before Choosing a Crypto Trading Platform
The buzz around cryptocurrency and its investment has given some people avenue to scam others. A trading platform is among these avenues to scam people.
Asides this, a legitimate company is not enough to have a wonderful trading experience as well as making. profits. You’ll need to know what you want and where you can get it.
It is therefore important you make a detail research on where to trade just as you study what cryptocurrency to trade.
5 Factors To Consider When Choosing a Crypto Trading Platform
Here are 5 important things to consider when you’ve decided to start your crypto trading experience on a trading platform. They are discussed below.
1. Ease of use
Every investor/trader starts in a particular day, so if you’re a beginner, a platform you can use easily should be an option.
A good platform who makes its customers/users its priority shouldn’t have a complicated-looking interface with lots of charts and other information. There should be a basic option even if there is another option for the veterans.
Since you are new to this endeavor of making money via digital asset, you need to look out for where your hard-earned money is safe.
Most of the trustworthy sites will offer information about their security practices somewhere on their websites. This, you need to look out for even though no trading platform/exchange is 100% secure.
3. Digital Asset Choices
As stated earlier, some crypto trading platforms have multiple cryptocurrencies. You’ll have to check if the crypto trading platform have the digital asset you want.
Some trading platforms deal with the popular cryptocurrencies such as Bitcoin and Ethereum. There are platforms that have on their list other altcoins from which you can make numerous choice.
In general, the higher market cap coins have a higher likelihood of being traded on popular platforms.
Understanding liquidity’s role in crypto is one of the first steps in investing in cryptocurrency. Traders need liquidity so they can make trades at any time without moving the market too much.
If you are choosing a crypto platform for your trading, you have a to look for a platform that has a high volume of orders flowing through its order books on any given day.
In order to get that volume, an exchange must have either a lot of users, or users who hold a large amount of assets on the exchange and trade them frequently.
Choosing a platform that is trusted and reliable is very important in making your choice. In doing this, you need to consider looking at its online reviews.
You can google search to see what people are saying about the platform as well as it’s presence.
Best Crypto Trading Platform in Nigeria
Prestmit, a digital exchange platform is on top among the crypto trading platforms in Nigeria today. The presence of the company in the crypto community has no doubt led to more competition in the Nigerian crypto market.
Prestmit has held its own as a company that deals with gift cards exchange, crypto trading, data services, etc. The company has been seen as a reliable p2p platform that is genuinely fond of its customers.
Since its launch in 2019, Prestmit has been well-known as a trusted and reliable site that has come to stay. It has also held its own as a company that deals with gift cards exchange, crypto trading, data services, etc.
Why You Need To Consider Prestmit for Crypto Trading
- Always Available-Prestmit is available whenever you want to trade. You can get your crypto deal as well as gift card exchange done anytime you want it done.
- Built with Love-This platform is designed with the users in mind. The rates here are true with the market rates. The aim is not only to make profit, but to ensure every user has an amazing experience while using the platform.
- Use Multiple Payment Options– You can make payment on this platform using fiat currencies and digital currencies. Nigerian Naira, Ghanaian Cedis, and Tether (USDT) are payment options on Prestmit.
- Fast Transactions– Users count Prestmit as one of the best digital exchange platforms for its speed of transaction. The payment facility is one of the best out there, you get your payment same minute (instant).
- Easy To Use- Prestmit is as easy as writing your name and email address. The platform offers an intuitive, beginner-friendly interface and 24/7 customer support for your trade. You can register your digital wallets in a minute on the platform.
- Trades Multiple Digital Assets- On this platform, you can trade cryptocurrencies such as Bitcoin, Dogecoin, Litecoin & USDT at market rates.
- Secured– Prestmit is equipped with modern security tools to help secure your account at all times. These include 2FA authentication and also a centralized security architecture that secures all components and layers within the platform.
If you have made up your mind to start trading cryptocurrencies or you need the best place for your trading, all you need to do is to Create an account with Prestmit. This is the beginning of your wonderful trading experience.