How to Know If an Exchange is Safe?
The exchanges or brokers enable the purchase and sale of Bitcoin. However, the segment has developed a lot in recent years. Therefore, the platforms differentiate themselves in the offer of services, in addition to terms, fees, and, above all, risk.
First, the cryptocurrency market is not just Bitcoin. In addition to the well-known Ethereum, Litecoin, and Bitcoin Cash, stablecoins (backed) and utility tokens (utility) also emerged, in addition to digital assets, real assets represented in digital format.
Similarities Between Stock brokerages and Stock Exchange
In fact, there are some similarities with stock brokerages linked to the stock exchange. However, each cryptocurrency exchange has its own asset offering, control rules, as well as its own customer base. Thus, the risks are very different, especially when it comes to foreign entities operating in the country.
Buying Bitcoin on different exchanges may even appear similar, however, transaction security varies greatly. At the Bitcoin Marketplace, we do work to ensure that bad actors are not involved in transactions.
Our dedication and commitment to security is proven through more than 7 years of operation without complications, hacks, or leaks.
Do you want to understand why the Bitcoin Market is the best exchange, or broker, for cryptocurrencies? Follow with us!
How to Know if an Exchange is Safe?
First, you need to research the company’s reputation, in addition to the history of operation. The Bitcoin Market is proud to be the only Latin American among the 25 most trusted exchanges in the world, according to a study conducted by the Blockchain Transparency Institute (BTI).
Then check for a record of customer data leakage, or periods when customers were unable to redeem amounts. Similarly, the exchange must have an experienced board of directors, including the areas of compliance, legal and information technology.
Another excellent indicator is its willingness to proactively collaborate in the professionalization of the sector.