Business

Cryptocurrency vs Fiat: What Is Better ?

The fallen kings of crypto
Source: Pixabay

Crypto assets have become one of the best options for trading and investments. There are many reasons why people choose digital assets over fiat. Here are some of the most important:

● When you send money abroad using bank services, it always takes several days to deliver funds to a recipient and high commissions to make it happen. With crypto, this process is much more simplified. For example, you need to send dollars to your mom abroad. So you buy stablecoins (equal to dollars rate) and conduct the transaction to your mom’s wallet. In a few minutes, she receives money and can quickly cash them out using a crypto converter to spend on her needs further. It is a fast and cheap option compared with all the stages of banks’ bureaucracy you would have to go through if you sent dollars. Crypto is the quickest and cheapest option when it comes to money delivery.

● Transactions with digital assets are unlimited, especially when you work with a regulated cryptocurrency exchange – you can deposit and withdraw unlimited amounts daily. Limits are a widespread problem in fiat transactions.

● There are no intermediaries when you work with crypto. All the processes are encrypted and cannot be changed by any third party.

● Bank regulations are not applied to crypto.

● You can see all the transactions in the blockchain; they are usually open and transparent. No one can delete or change them.

● With crypto, it is possible to make enormous money in the shortest possible period. You only need to know how the market works and where it moves.

How to Buy and Trade Cryptocurrency?

Cryptocurrency trading takes place on crypto exchanges. Such services provide all necessary financial instruments for investors, such as margin, leverage, p2p, and other tools. To buy crypto, you can use a crypto converter, for example, on the WhiteBIT exchange. Converters work as follows: you select coins you want to sell and assets you want to buy. Then enter the number of coins you would like to give and pay the fee. Converters work instantly – you receive assets in a few minutes. For beginner traders, a crypto converter is a best and easiest option. Try it on the WhiteBIT exchange, and if you have any questions, write to the WhiteBIT crypto exchange support chat.

Why Is It Crucial To Select The Right Crypto Exchange?

Selecting the right crypto exchange is a crucial step for any trader. With so many different platforms available, each with their own unique selection of assets, commissions, and features, it can be difficult to know where to start. Here are some factors to consider when choosing a crypto exchange as a novice user:

1. Advanced trading tools: Does the platform offer advanced trading tools, such as leverage, margin trading, and futures trading?
2. Safety and security: How secure is the platform, and what measures does it have in place to protect its users’ accounts? Does it offer two-factor authentication?
3. Customer support: Is there quality customer support available to assist you with any issues or questions?
4. Trade volume: What is the daily trade volume of the exchange?
5. Crypto asset selection: How many different cryptocurrencies does the exchange support?
6. Real money purchases: Can you buy digital coins using real money by attaching your bank card? Are there any purchase limits?
7. Commission policy: What is the exchange’s commission policy, and are the fees fixed?
8. User interface: Is the platform easy to navigate and use?

By considering all of these factors, you can select a crypto exchange that is best suited to your needs and preferences as a trader.

About the author

Saman Iqbal

Saman is a law student. She enjoys writing about tech, politics and the world in general. She's an avid reader and writes fictional prose in her free time.







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