When you are looking for an exchange service to swap your cryptocurrency, you want to do it on the best platform. Do you know though what are the criteria of a reliable cryptocurrency exchange? Well, there are some mandatory features that any exchange has to have, and there are some complimentary benefits that you might want to get. We would start with the mandatory characteristics without which an exchange cannot be considered a reliable service.
Mandatory Features a Cryptocurrency Exchange Shall Have
First of all, the needed safety level is a must. If your funds and information are not safe, you cannot use the service. Thus, before you register, deposit funds, or perform any other actions on a platform, make sure the instant cryptocurrency exchange – LetsExchange.io or any other you might choose, uses:
- An SSL certificate: it is a guarantee that all the information you provide online is safe. If the platform doesn’t use an SSL certificate, any your data can be stolen and misused.
- Two-factor authentication if you need to register an account. It adds a security layer and prevents unauthorized access to your account.
- DDoS protection: it ensures that the cryptocurrency exchange will be available when you need it, and all your funds and information will stay safe.
- Efficient customer support: when you deal with money, it is always needed to have someone who can help in the case of an emergency.
Other Benefits a Crypto-Exchange Can Provide
Along with the mandatory features, you might want to get a lot of benefits that are crucial personally to you when you are looking for an exchange to swap ETH to LTC. Some of them to consider are the following:
The availability of the needed coins: in your case, ETH and LTC are traded on almost all exchanges.
- Beneficial cryptocurrency exchange rates: for example, LetsExchange applies a proprietary tool to look for the most beneficial rates on the available exchanges.
- A possibility to choose between a fixed or a floating rate based on your needs and knowledge.
- Validated coins: if an exchange offers this guarantee, it means that you might not worry about the origin of the coins you are going to purchase. All of them are legal and haven’t been involved in any fraudulent activities.
- Speedy transactions: the best exchanges perform transactions instantly, only the time needed to validate the transfer in the coin network is applied.
Some exchanges offer such an additional benefit which is great indeed as the absence of registration and verification. These procedures are time demanding and bothering. Moreover, during any registration procedure, you expose your sensitive data online. Thus, the risks that it can be stolen increases. On some exchanges, you will be able to swap coins immediately, without providing any personal information.
Now, you know what to look for in a cryptocurrency exchange. Find the most suitable service, and start buying, selling, or exchanging coins.