What Are The Key Criteria For Choosing The Best Platform To Trade Crypto

FinanceFeeds Editorial Team

If you are new to cryptocurrencies, chances are that you are probably caught off guard by the immensity of information and new concepts that you are being bombarded with. If you’ve already been part of the crypto trading world for a while now, you are probably wondering if there’s anything you could be doing better or smarter to fully thrive in your investments.

crypto derivatives

In general terms, trading cryptocurrencies is an individual game. As a trader, you get to choose the strategy and investment that best works for your profit ambitions and life schedule, and successfully cash in on the craze. As the crypto market keeps expanding, there is an abundance of crypto platforms, exchanges and apps that let you buy and sell your digital assets with ease and security.

But, what are the key criteria that you should be looking for before choosing the best platform for crypto trading?

Security

The security aspect may be the most important factor to consider before deciding to get involved with a crypto exchange. Since the crypto markets operate on a decentralized network, there is no way to reverse or undo a cryptocurrency transaction. Therefore, having a fully secured platform that gives you a peace of mind in terms of handling your investments, it’s of the utmost importance.

NAGAX conforms to strict security regulations to ensure the traders of the platform are fully protected. It complies with established mandates and provisions, such as KYC (know your customer) and AML (anti-money laundering), which require a complete authorization of the customers by collecting a range of important information. Additionally, NAGAX has numerous in-build security features, such as two-factor authentication, regular data backups, filtered firewalls, MPC cryptography protection of users’ wallets, encryption of sensitive information, private keys and many others, to ensure the safety of their customers’ assets. 

Supported Tokens

By now, pretty much most exchanges support Bitcoin and Ethereum, which remain the most popular and well-known cryptocurrencies in the market. It is important, however, that a platform diversifies with its supported cryptocurrencies, giving traders a variation of options that will enable them to balance out their bets.

NAGAX supports more than 100 of the most popular cryptocurrencies, including Bitcoin and Ethereum, as well as Polygon (MATIC), Dogecoin (DOGE), Solana (SOL), and others.

Fee Structure

Additional fees on transactions and other services are a crucial component when choosing the appropriate crypto exchange. It’s best to be informed about most of their added fees in advance and make your choice accordingly.

When you trade with NAGAX, any added fees depend on the various levels the exchange offers, from base to crystal and everything in between. Similarly, withdrawal fees would still depend on the type of cryptocurrency that you will be trading. As NAGAX also has available its own cryptocurrency, NAGA Coin (NGC), any buying and selling fees will also depend on whether you have staked, and how many you have staked, their native asset.

User-Friendly Interface

A platform for crypto trading is more attractive to users when it has a user-friendly and simple interface. It needs to be easily accessible, welcoming and effortlessly navigated. NAGAX’s clean, intuitive and functional interface is another significant aspect that can attract a number of traders to the platform. It allows new users to easily and seamlessly find what they are looking for and quickly understand how to go about their crypto trading.

As one of the newest and most promising exchanges around, NAGAX offers the best that beginners and expert traders require from their crypto trading platform. With the availability of a fully secured wallet, a user-friendly interface, limited and varied fees and its large magnitude of cryptocurrencies available, NAGAX is slowly but surely becoming one of the go-to platforms for crypto trading.

Risk Warning: Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds. Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you cannot afford to lose.

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