Easy access to the Internet has changed the way people buy products and services. From cryptocurrencies to mobile phones, people don’t make a purchase decision until they read a few online reviews. According to a 2019 survey, 90% of online shoppers read online reviews before visiting business websites.
According to experts, online reviews are personal experiences of people and also their recommendations. If you are planning to invest in crypto assets, you need to find the right cryptocurrency exchange. Before selecting any cryptocurrency exchange, read the online reviews. Here are few things you can learn about a cryptocurrency exchange from honest online reviews.
There are several reports of cryptocurrency assets stolen from digital wallets. Hackers are always on the lookout for security loopholes to exploit any online services. Several FTX review examples show that users have expressed satisfaction about the safety measures taken by a particular exchange to keep their digital wallets safe.
Cryptocurrencies are not accepted as legal tender in all countries. Every country has its law for crypto trading. For example, in the United States, crypto exchanges are regulated by state and federal laws. In most countries that allow crypto trading, crypto trading comes under the Securities and Exchange Commission regulation. Online reviews do mention the registration of the crypto exchanges, which clears doubt about its legality.
3. Product and Features
Crypto coins are not the only crypto asset traded on crypto exchange platforms. An honest online FTX review would share the details of different crypto assets traded on the platform. It will discuss all features of the crypto exchange that will help users make the right investment decisions. Here are some features that are generally discussed in online reviews.
Crypto futures refer to derivative products. It allows investors to bet on the future price of a particular crypto asset. People investing in crypto futures generally go for betting on a price increase or go short by predicting a price drop.
The future trading happens between short-sellers and long-time investors in crypto assets. The online review mentions the number of perpetual contracts generally offered on the cryptocurrency exchange for a given asset. It also gives you details of quarterly assets listed on the exchange.
5. Leveraged Tokens
The cryptocurrency exchanges allow traders to earn profit from the upward and downward price movement of cryptocurrencies. The online reviews present users with a chart history that shows the price of a particular crypto asset for a specific period.
The review also mentions the type of leveraged tokens offered by the platform. For example, some crypto exchanges offer BULL and BEAR tokens for trading. When the underlying price of the crypto asset goes up, BULL goes up. When the underlying prices of crypto-asset go down, BEAR goes down. The online review explains different ways to use leverage tokens without risking your collateral.
The review also explains the leveraged tokens’ price movement and the profit you can get from them. Some detailed online crypto exchange reviews also share a detailed leverage token walkthrough guide to help the new investor understand trading fundamentals.
6. MOVE Contracts
Many investors are unaware of MOVE contracts. They are one of the crypto products at the exchanges. The online review presents readers with information about all assets listed at the exchange. It explains the volatility of crypto assets and how to take advantage of price movement in every direction.
Most online guides do not focus on MOVE contracts though they present a significant potential of earning.
7. Over the Counter Trading
If you are new to crypto asset trading, you should know about counter trading in the market. The online reviewers explain the market swings and the profit earning opportunities to tap from the price movement. The reviews mention the OTC trading’s initial limits and give you information about the fees and liquidity whatsoever.
Not all crypto exchanges allow crypto options trading. If a particular crypto exchange allows options trading, the online review would mention it separately. According to online reviews, experienced traders generally go for Options trading because the option is available for every trader on the platform.
The online review mentions the critical aspects of Options trading on the platform that includes the expiration date.
Many users may not have heard of Trollbox, but online reviews have an explicit mention of it. Trollbox is a group chat option available to every trader on the platform. The online reviews explain the importance of the group chat and its features to be useful while participating in the trade.
To sum up, an honest online crypto exchange review gives you detailed information about the crypto exchange that is not available from other sources.