Thanks to crypto exchange platforms, we can now buy, sale and trade cryptocurrencies hassle-free. Without having access to a cryptocurrency exchange, you will not be able to buy or sell digital assets. But there are some alternatives that you can still rely upon whenever you want to perform a transaction.
Either way, you should always learn to exercise caution since some options might end up costing you big time in the long run. In this blog post, we are going to examine important tips on how to choose the right cryptocurrency exchange for you and change 1 Bitcoin to ZAR without feeling the heat.
Highly-Secured
There’s no denying that security is one of the most important factors to consider when looking for the ideal place to change 1 Bitcoin to Rand. At no time should you work with an insecure crypto exchange platform since you might end up losing your funds. This is a situation you do not want to find yourself in especially after working hard in order to raise the money.
When examining the security, you should keep a close eye on the technology relied upon by the website. To give you a slight insight, the exchange’s web address should start with HTTPS. Avoid using HTTP connections as it does not guarantee your security.
Check the Fees
Before choosing a crypto exchange platform to convert Bitcoin cash to Rand, it is important for you to compare all the fees. In most cases, the fees are usually less than 1% per transaction and might decrease even further especially when your trading volume increases.
Also, be sure to check the withdrawal fees since some companies might have a higher withdrawal fee for specific crypto. To be on the safe side, it would be better for you to examine as many sites as possible before choosing the most reputable.
Liquidity
Aside from security, you should look into the liquidity of the crypto exchange platform you want to leverage when converting Rand to Bitcoin. The lower the trading volume is the less liquid specific exchange is. With what liquidity offers, it will prove quite easy to complete transactions faster, more easily and without making do with price volatility.
Nevertheless, you should take it upon yourself to check whether a crypto exchange platform provides “locked-in” pricing as it guarantees you the price when carrying out a transaction. Keep in mind liquidity can be different for various trading pairs. For instance, it can be low for ZAR to Btc but high for BTC to GBP. Make sure you check these variations before doing anything else.
Rounding Up
The above are merely some of the factors you need to look into when searching for a crypto currency exchange platform. For those who are still finding it hard, then you can simply visit Remitano. Here, you can exchange your cryptocurrency in minutes as they have the best rates. Not to mention it allows you to buy and convert Bitcoin to Rands just using phone verification with zero fees.
