How to Select an Exchange to Swap Your Coins
If you have opted for an exchange that doesn't require KYC, check carefully everything about the website. There are some requirements that cannot be skipped if an exchange provides safe and reliable services:
- Your safety shall be the top priority. The exchange website shall encrypt all the information that you are providing. It is easy to check whether it is done by checking the website URL. If it starts with htpps like here, https://letsexchange.io/, everything is ok. It means that the website is SSL-certificate protected. If the URL starts with htpp, it is better to stay away from it.
- Another thing to check is whether the platform supports the coins that you need. Select them in the exchange widget or ask customer support.
- Make sure the platform`s customer support works properly. They shall reply asap, and they shall be professional enough. If you are going to entrust the exchange your money, you have to be sure that you will have someone to help if a problem occurs.
- Finally, never hesitate to check feedback online that the selected platform has. If there are negative, check what the issues are. If you are ready to face them, you can move on with the exchange. If you don't want to deal with similar problems, you need to look for a different service.
Once you have found an exchange of your preference, you can swap your coins.
Before You Exchange Your Coins, Make Sure You Understand the Situation on the Market
Cryptocurrency is highly volatile. That's why don't rely on the information you have once received. Before exchanging any coins, check what you are going to get when the exchange operation is completed.
Almost every exchange offers a special live calculator to check the result of a transaction. You need to provide the needed information in respective fields, and the tool will display the number of coins that will be credited to your account when you swap your cryptocurrency on that platform. If you exchange a small number of coins, the differences in exchange rates might be very small but if you are going to swap a good sum of money, you might save even on a small price difference.
Also, always check the live chart which also shall be available. There, you can check not only the current prices but also the price movement during a specific period. It is of great help if you want to exchange your coins not randomly but based on knowledge.
Once you have decided that the situation in the market is favorable, you can move on with the transaction.
