How To Recognize Good Crypto Platforms Such As Bitcoin Loophole

Choosing a crypto platform to trust should not happen by accident. Whether you make it on the digital currency market or fail miserably by losing all your investments depends enormously on the stability and security of the system you choose for your cryptocurrency transactions. The collapse of some popular platforms has definitely left behind huge bitcoin market lessons to learn.

Even though different factors can make or break the stability of bitcoin exchange platforms, there are certainly signs that can help you decide for or against using the services of a particular exchange.

Watch Out For Excessive Charges

Does a website have killer fees and commissions they require you to pay for services? This should raise a red flag. Of course, nobody likes to be over-charged, but paying a reasonable fee is very important. It quickly becomes obvious when somebody is trying to make a fortune out of you.

While some online exchange platforms are pretty transparent about how much it will cost you to buy, sell, deposit, withdraw or store digital money with them, others are quite unwilling to give away this information in advance. There are some really sneaky ways in which untrustworthy websites make you part with your money, sometimes without you even realizing it.

One such fee is the monthly “wallet” charge for storing and managing your cryptocurrency. Since the system does not accrue any cost for storing the bitcoin, regardless of the amount, this fee was just made up as an excuse to take your money. Check whether the exchange you are considering will charge you for just keeping your money with them. If yes, move along. Who knows what other tricks up their sleeve they might have, right?

Excessive deposit and withdrawal fees. They might try to pass them off as memory pool overload and the like. Another thing to beware of and check prior to creating an account.

Another no-no is if they require you to pay for ID verification. This is a step all exchanges are obliged to perform since you can’t trade anonymously. They are supposed to cover this as part of the registration process, for free.

Most sites will generate their income by leveraging a small margin on the buy and sell rate. Whatever that margin is, make sure you find that out before you deposit your money.

Look For MoreThan One Payment Method

Now, how does that relate to trustworthiness? Well, since users usually become loyal to a particular currency exchange, having to stick to only one way of depositing and withdrawing funds on a regular basis can turn into a real pet peeve if that payment method is not a preferred one and creates inconvenience.

Most sites, unfortunately, have just one or two payment methods at best. It would be a complete miracle to see credit card, bank wire, PayPal and cash all in one place. If a virtual currency platform has two, it is definitely a better option. Credit card payment and bank transfer are usually the most supported ones.

Ease Of Access

It is unbelievable that, in 2018, some sites are still so user-unfriendly. It might even seem that creators actually put their heads together in order to figure out a way how to make users’ lives more miserable. It is really important to start simple and then try more and more tricks as you become an expert on bitcoin trading.

When you are choosing a platform, make sure you have found one that takes beginners into consideration (And if you are one, you might find this guide on bitcoin investing useful.). Avoid websites with considerable downtime where you basically can’t access your account most of the time. The same goes for user interfaces that are not intuitive and you need to contact support for issues with each trade. Withdrawal processes that are not automated are also unappealing, since nobody likes having to request authorization to withdraw their own money every single time.

The best bitcoin trading sites are very accessible and user-friendly, but at the same time offer awesome advanced features for experts in the trade. One such platform is Bitcoin loophole.

Bitcoin Loophole

Bitcoin loophole is a free online trading robot, created by Steve McKay and his software development team. Even though it has a set of very advanced features that only experts would be able to take advantage of, it was designed with a thought about the beginning trader, who has no previous crypto trading experience and is still just finding their way around the system.

You can obtain a free license by completing the registration form on bitcoin loophole’s official page. This will create an empty account for you. Then you make an initial deposit in order to be able to start investing. This deposit is entirely yours to keep, trade or withdraw. With the deposit in place, you can start the trading process either manually or automatically, based on your preferences and level of expertise. As simple as that. Bitcoin loophole is definitely one of the best crypto platforms in terms of accessibility and user-friendliness.

Security Features

If you are relatively new to the world of cryptocurrency, you might be set off by mainstream media reports about bitcoin being hacked and the like. What actually happens is that certain exchange platforms who have security vulnerabilities happen to get hacked. The currency itself is incredibly secure and has not yet been successfully compromised since its creation. You can read more about how to prevent security issues for yourself at https://www.thebalance.com/prevent-bitcoin-fraud-by-securing-your-identity-4160685.

Security best practices which tell you an exchange is trustworthy are the requirement for user location and verification prior to being allowed to deposit funds and start trading. Prompting users for the implementation of a two-step authentication is an even better sign.

On the other hand, if users have to wait for days before their withdrawals are processed, if the quoted bitcoin price differs vastly from quotes on other exchange platforms, and especially if the media leak theft reports that operators fail to explain or stop responding to, this is a definite red flag that the exchange in question is highly unstable and unreliable. One solution to this concern is to withdraw your bitcoins to an offline wallet as soon as you purchase them. In this way you can rest assured that your digital currency is safe, whatever may happen to the online exchange website you are using to conduct your transactions.

Customer Service

Customer service quality is another aspect to research before picking your exchange platform. Some websites respond to customer tickets in a swift manner, whereas others might take days or up to a week to acknowledge an issue. Bear in mind that you will need to communicate with support at one point or another, so make sure you sign up with a website which employs enough staff to deal with support requests fast enough. One example would be the ID verification step which everybody is implementing right now in order to follow regulator rules. As this will require several e-mails between you and support, just imagine having to wait for days to get each one answered!

One of Bitcoin Loophole’s best features is its outstanding customer support system. Its software development team take pride in providing timely and competent assistance with all issues that might come up for its users at all stages of the trading process.

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