There are many crypto exchanges in the wild. In fact, the market is oversaturated with them, which drives the existing companies into the wild competition. They always try to exceed one another and bring something new to the table. That’s why there are so many exchanges with small, unique special features.
Many of them are interesting but ultimately useless. There are, however, several factors that let you know you’re dealing with a good bitcoin exchange. And by ‘good’, people usually mean one that gives them enough resources to benefit from crypto trading – be that information, tools, or other things.
Clear Learning Materials
Most crypto exchanges have an educational part nowadays, it just seems mandatory. However, not all companies actually understand what these learning materials are supposed to achieve. For many, they exist solely to attract a passive inflow of visitors. It may not be very useful to actual customers.
If this part of the website includes a blog with a mishmash of different articles without a common system (or at least a separation into subjects), it’s probably there just for show. The articles won’t help you if they are: ‘interesting’ facts, news, general advice, or very niche unhelpful tips.
Good learning materials are supposed to do two things:
- Gradually let you understand how the stuff works on this exchange, from basics to advanced topics;
- Teach you how to understand the analytical data.
Useful Analytical Data
The analytical data should include a financial calendar of cryptocurrencies that you can access easily, as well as regular (daily, weekly & monthly) numerical reports about the market. Text digests that explain these reports may be welcome, but only if they are concise and comprehensive.
Like with the learning materials, ‘more’ doesn’t equal ‘better’. A handful of well-compiled, well-designed reports will help you understand how the market behaves at the moment. Such information is important, even if you can do without it. That’s how you earn your additional crypto, however.
If your crypto provider has a mobile app in addition to their usual browser-based exchange, you’ll be able to switch between the two of them without having to create an additional account for a mobile app. You will need a mobile app if you want to be efficient in Bitcoin trading. It’s just a matter of where to get one.
Mobile apps are extremely helpful because they allow you to make trades away from home and do it with a comfortable, handy solution. And if this app isn’t just a remodeled and mobile-adjusted version of the browser-based exchange, it’s even better. Means they spent some time developing it.
Simple, Comprehensive Design
You probably think that design might be one of the less important parts of picking a crypto exchange. But it’s not completely true. Of course, you can sacrifice looks for functionality, but in this field, design is often intertwined with the platform’s navigation, layout, and architecture.
For most of these exchanges, a simple, minimalistic and colorful design is a clear giveaway of a comprehensive structure. And the comprehensive structure is a serious advantage. Even simple exchanges are usually sprawling, and it’s always a hassle to find what you need in them. A simpler structure helps.