When it comes to crypto investment and trading, people often ask the following questions:
• Is it safe to trade crypto?
• Is it safe to keep investments on an exchange?
• Is it possible to deposit fiat currency and buy cryptocurrency with it?
• What trading cryptocurrencies tools will I need?
• What is the safe platform for trading?
• What are fees?
We will try to answer these questions in this article.
Is It Safe to Trade Crypto?
It is safe to trade crypto if you pick a safe exchange for it. Large and reliable platforms like Binance, Coinbase, Huobi, and WhiteBIT take good care of clients’ funds’ safety and implement several layers of protection not to allow third parties and hackers to reach private information and wallets.
Also, it matters in what way crypto is stored. For instance, WhiteBIT stores 96% of funds offline on cold wallets.
Is it Safe to Store Investments on An Exchange?
It is worth keeping coins on a platform if you buy cryptocurrency for trading. That way, you will receive access to your trading account anytime. If you just want to buy coins and hold them long term, buy a Ledger – a device to store crypto offline.
Can I Deposit Fiat to a Platform?
If you want to buy cryptocurrency with fiat money, use one of the centralized platforms we have mentioned before. To buy crypto using your bank card, you need to pass the KYC verification. It takes some time. On WhiteBIT, it will take just a couple of days.
What are Trading Tools?
Again, depending on the platform, a different set of trading instruments are allowed. Taking the WhiteBIT platform as an example, here is the list of tools every large platform offers on average:
• p2p
• spot markets
• futures derivatives
• margin trading
• leverage.
Different platforms provide different sizes of leverage. WhiteBIT offers up to X20.
Fees
An average fee for transactions is 0,1%, but every platform charges different commissions, so be attentive. WhiteBIT has a 0,1% fee on all transactions regardless of the trade amount.
So it is safe to say that WhiteBIT is the safest crypto platform. In addition, it has a convenient interface even a novice user will handle.
