So you have a brand spanking new Bitcoin you’re waiting to trade...but searching for a good crypto exchanges is a little bit like looking for a needle in a haystack? Fear no longer - Let’s look at it in a manner that you can now more easily navigate the vast ocean of crypto platforms (swim, yo swim).
Imagine for a moment, exchanges as different pizzerias. Each has its own special sauce, selling proposition, maybe a quirky waiter or two. Binance is huge like a big city pizza joint with endless different topping choices. They’ll have almost every coin you could dream of. But if you're just in for a slice.. can be a bit overwhelming right?
That’s when your Coinbase style exchange enters: Like Apple in the digital world, smooth user interface, friendly, simple. This would be your corner restaurant where everybody knows your name but at a high price. Good if you’re getting your feet all wet in the digital world.
Kraken, on the other hand, is that family run Italian restaurant which is all cozy and packed with value for the serious trader. Their charting tools are intuitive and very helpful when you’re making those fast trading decisions so it's like they've been around…..forever. What’s that drawing you to the kitchen Kapoot?
Now if you think a bit of that decentralized pizzaz is for you - Uniswap is the way to go for you, just as much you have a pizza oven. Create your version but you’re in full command. No bouncer here. Just plain old good eater trust. It’s a ride, that's a little risky but sometimes can turn out to be the best slice you ever had.
Security, another can of worms. Don’t just trust any old place, do some homework - Get user insights, read up on them like Yelp, share experiences. Do not empty your wallet before looking through the licenses a couple times. A platform that locks their doors like Fort Knox. People dont leave their wallet on the park bench, do they?
Then you have the fees that can be that sneaky shower spider... Some exchanges bait you with apparent low fees shower spider.. but have the real cost tissues lower than buy. Just be like clean transparent glass.