Hi It's Unicorn

 

 Before entering the crypto market, the most important thing to do is to choose an exchange. If the transaction speed is faster, you will get a better performance. If the exchange provides a safe trading environment, traders can get better security verification.  

 

 

Here are seven principles to you. The following is the seven important factors for choosing an exchange, which are for reference only when you are choosing an exchange.

 

 

1. Is there a KYC recognition function and anti-money laundering (AML) mechanism?

 

 

2. Is an authentication mechanism of 2FA (Two Factor Authentication) provided to ensure investor’s security?

 

 

3. Is its reputation and trading volume sufficient? (Insufficient trading volume means low liquidity; it’s unfavorable to market circulation)

 

 

4. Does the exchange provide multiple fiat currency transactions to increase the liquidity between cryptocurrencies?

 

 

5. Does the exchange provide leverage operation to increase the flexibility of funds?

 

 

6. Compare with other exchanges, is the price of its crypto assets normal?

 

 

7. Is its handling fee lower than other exchanges?

 

 

What is KYC（Know Your Customer）?

 

 

 

Generally, real-name authentication is requested when applying for a cryptocurrency exchange account. You need ID card and related information to apply for approval. This is the process for the exchange to obtain customer-related identification information. Without these authentications, its anonymity may be used by criminal to money laundering, fundraising, and drug trafficking via cryptocurrency. 

 

 

Source: coinmarketcap