In the past few years, cryptocurrencies such as Bitcoin, Ethereum, Litecoin and Ripple have taken the world by storm. Early investors made millions of dollars on what seemed like a dubious premise, and now some economists are starting to call crypto the future of money. One tech journalist went so far as to suggest that Bitcoin looks like money’s dream of itself.
There are basically two types of crypto users: those who are interested in using it (consumers), and those who are interested in getting rich off of it (investors). Between the two is the crypto user who has a small stash of coins set aside in case it skyrockets overnight – as all popular coins have done in the past year.
While the majority of the population is still confused and perplexed by the idea of crypto, there is a growing contingent of folks who want in on the action and see the benefit. In the past few years, with digital coins gaining an air of reliability, user-friendly fiat gateways have started popping up to service crypto adopters. This is a marked move away from the silk road, dark web type of transactions that Bitcoin was initially associated with. Folks using crypto can now find a sense of security in their journey by enlisting a gateway that provides comprehensive customer service, a guide for you to learn about investing in Bitcoin and ease-of-use so you can make quick transactions.
For some, however, it is still anxiety-inducing to convert a paycheck into Bitcoin, even if they are fired up about crypto. For those anxious folks out there, here’s what you want to look for when you’re shopping around for a safe, reliable crypto gateway:
First of all, you should see if the company lists who they are and where they are located. If there are pictures and bios, all the better. Part of taking crypto use mainstream involves showing the public that real, relatable people work in the industry.
Additionally, here are three features to look for in a top-tier crypto exchange platform:
- Liquidity and Express Option – Some crypto exchanges require 14 to process a transaction. That amount of time is completely unacceptable – a good platform should be able to process a transaction in 24 hours. Great platforms also offer a 2-hour express option for a small service fee. Deep liquidity, in general, is another great quality to look for.
- Exchange Calculator – Sorting out your crypto to fiat exchange rate can be tricky, and not all of us have a head for numbers. A built-in exchange calculator shows you exactly how much you’re buying or selling so you can be confident that your cash is accounted for to the decimal.
- Ability to Download Transactions – While all crypto transactions are permanently etched into the almighty blockchain, you may sleep better at night with a record of your transactions downloaded onto your hard drive. These may be useful to review when planning a budget or filing taxes.
If you’re interested in buying some crypto but thought there was no safe way to do it, we hope this post has changed your mind. Find yourself a reliable platform, and buy a piece of the zeitgeist!