Knowing how to purchase Bitcoin is the first step in this digital currency world. After that, the most important question comes– how to select the best Bitcoin exchange? There are many questions that have to get answered before the newbie trader is sure he made the good choice. That depends on needs, trading volume, country, security as well as other factors that user may choose the exchange that will suit their requirements. Thus, what precisely the trader has to know to make a best possible choice? You can check the list:
Information about Exchange
The basic information like location of an exchange, name of founder and market that they focus on will be a first step in selecting the Bitcoin exchange.
Still bitcoin is the unregulated currency in a lot of countries; however, things are now changing. In some years, situation may look better than today. Since utilization of the Bitcoin increases, governments are looking to get the degree of control on digital currency transactions. Illegal drug smuggling, money laundering as well as terrorism are some reasons why the authorities are getting some control & monitor Bitcoin network.
Due to these things, it is very important to know geographic location of the BTC exchange before you make your decision. Location of an exchange dictates laws it may need to comply with. Most of these countries do not have any kind of laws linked to the digital currency; however, if they start doing it, it can significantly affect the user’s capability of using & trading the Bitcoin.