There have been numerous cryptocurrencies that have been introduced. But as the pioneer, bitcoin still holds a special place among the crypto traders. This is one of the coins that has seen a substantial amount of growth in the past. Given the steady track record and the ease of finding it this coin continues to be popular among the first time cryptocurrency investors. There are ready to use trading bots like Bitcoin Code which save a lot of time for the investors. The investors could choose from a variety of membership plans based on the features required. Bitcoins can be used not just for trading but also to make online purchases. Given the convenience of cryptocurrency based payments, there are many businesses that now accept payments via cryptocurrencies. So if you plan to buy bitcoins in a bulk so that you could use them for trading and for transactions then here are a few tips to find the right source:
- Transparency of the exchange
Choose an exchange that is clear of hidden terms and conditions. Look for what the actual users have to talk about the exchange. Choose one that is equipped with a good customer support as well.
- The reputation of the exchange
Look for the reputation of the exchange. The fame and name it has earned would be based on the order book volume, the rates imposed and the processing times involved. The country where the exchange is situated is another factor to consider. This would determine the rules to abide by and the regulations based on the details that the investor has to furnish to make the trade happen.
- Security of the chosen exchange
Look for the security measures imposed. Is the exchange based on a secure server? Are there stringent authentication processes involved to access your accounts? The security of the exchange would determine how safe your bitcoins are. No matter how secure the exchange is, it is a good idea to invest in a bitcoin wallet.
After weighing all of the above factors it would be a good idea to look for scams involving bitcoins. There have been scams based on bitcoin exchanges, those based on trading bots and lots more. Besides the common types of scams, there have been technical glitches that have resulted in losses as well. The more you expand your knowledge about the limitations in crypto trading the better would you be at overcoming them?