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How To Choose The Best Cryptocurrency Exchange

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Topit is the best cryptocurrency exchange to buy and sell bitcoin and other cryptocurrencies in Africa. it is safe, fast and secure.

   

Cryptocurrency is a pretty complex system - several cryptocurrencies have emerged, and more are still on the way. You’ve probably heard about Bitcoin, Tether, Litecoin, and the more recent DogeCoin that started as a joke. Or how Ethereum solves more problems than as a cryptocurrency.   


The truth is, understanding cryptocurrencies can be tricky, especially for beginners. And if you are hoping to start buying and selling crypto, finding the best crypto exchange can be confusing.   


Thankfully, we’ve compiled tips on how to choose the best crypto exchange in Africa to make things easier for you. But first of all, let’s find out a little about crypto exchanges.  

What Is A Crypto Exchange?  

A crypto exchange (Cryptocurrency exchange) is a digital marketplace that allows users to buy, sell, and store cryptocurrency online. A  cryptocurrency exchange functions as an online brokerage where users can exchange cryptocurrencies with fiat currencies like Euros, USD, Yen, Kes, etc.   


A crypto exchange could be a centralized, decentralized, or peer-to-peer platform. However, the goal is to make crypto trading seamless, fast and efficient.   

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There are hundreds of cryptocurrency exchanges across the globe with similar or slightly different offerings. However, before you start buying and selling crypto on any crypto exchange, you should ensure that the platform has the following features:  

Features of A Good Crypto Exchange  

The following features will help you determine a good crypto exchange, and they include:  

Supported Cryptocurrencies   

Before choosing a crypto exchange to trade with, you must ensure that your preferred coin is enabled on the platform and also available in your country. There are thousands of crypto coins on blockchain technology. However, not all currencies have market value.   


Crypto exchanges like  Topit offer Bitcoin, Tether, Ethereum, Litecoin, Dash, Tron, etc. On the other hand, investing in lesser coins could be an advantage, but beware of crypto exchanges that encourage you to buy  shitcoins at giveaway prices.   

Crypto Security  

Your crypto’s security is as important as your money. Therefore, you should make sure that any cryptocurrency exchange you trade on prioritizes security. For  Topit , security is a watchword and we have taken all the necessary steps to ensure that your assets are highly secure and safe from theft or data breach. Topit stores your crypto in “deep freeze” multi-signature wallets, which are secured by several layers of encryption.  

Legally Registered   

Since cryptocurrency became popular, several platforms have emerged to provide trading services to users. However, you should verify that your preferred exchange is legally registered and accepted in your resident country. If possible, ensure that they have a verifiable address. This will help you stay away from scam platforms in the guise of crypto exchanges.  

KYC Protocols   

The reason for adhering to KYC protocols is to verify the users’ identities and clamp down impersonation and scams on crypto exchange platforms. However, some crypto exchange platforms do not follow this protocol which causes infiltration by criminal individuals. You may want to perform due diligence on any crypto exchange you want to trade on to prevent avoidable losses.    

Ease of Use  

A good cryptocurrency exchange should be super easy to use without cumbersome features that may be hard for an average user. Topit provides an intuitive dashboard that points you to any of the features you may want to use at any time. Whether you are a pro or a beginner, you can conveniently buy and sell crypto without hassles on the Topit platform.   

Bill Payment   

Some crypto platforms offer other bill payment services like utility, cable, flight tickets, local and international airtimes, etc. And they allow you to pay these bills with either crypto or fiat currency. You may want to look out for platforms that make such payments and other services more than just buying and selling.   

Competitive Fees  

Most platforms charge for deposits and withdrawals. Topit is known for its low charges and competitive pricing. Also, the variation in prices is caused by a change in market demand and risks. However, exchanges with high profits usually charge an extra commission fee, aside from the regular trading fee.   

Wallets   

The wallet acts as storage for your crypto and fiat assets. However, not all crypto exchanges provide wallets for their users. In such cases, you would have to juggle between your crypto exchange and crypto wallet during transactions. But that is not the case with Topit.   The platform offers a wallet that allows you to withdraw and deposit instantly to any mobile wallet or bank account of your choice. It is also secure with hi-tech security and multi-factor authentication.   

Customer Support  

Several Cryptocurrency exchanges have a loophole in the area of customer service. So you should look out for crypto platforms with options for customer support and swift responses, should you need their assistance.   

Transaction Speed  

One downside of cryptocurrency is its volatility. Hence, the need for you to use an exchange platform that offers instantaneous transactions for their users. You don't want to experience transaction lags during the exchange. With Topit, your transactions are processed in a near-instantaneous manner   

Wrapping Up  

It's the age of digital currencies and many investors and traders are joining the bandwagon to buy and sell cryptocurrencies. However, becoming successful in the crypto trade requires a whole lot of studying and tricks which are usually complex for beginners. On top of that, the crypto exchange platform you trade on can also play a role in the success or downfall of your crypto journey.   

Therefore, it is best to choose a tested and trusted crypto exchange that has met most, if not all the criteria listed above, with emphasis on hi-tech security.   


 

Topit is one of the best crypto exchanges that you can trust when you want to buy and sell cryptocurrencies. The platform is not only highly secured with end-to-end encryptions. It also makes it easy for users to securely buy and sell cryptocurrencies using their local African fiat currencies.  


 

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