How to choose a cryptocurrency broker

Written by Arthur

A brokerage is an intermediary in transactions and has custody of clients’ assets. The brokerage has custody of the clients’ assets, much like a bank. What you need to know about a broker (exchange).

  • Verify the existence of the company by searching for the CNPJ. Also, verify the location and corporate structure. You can check Linkedin to see if the company has employees and who her directors are. You should verify that they are competent professionals with relevant backgrounds.
  • You can find out how much liquidity you have and what volume it is. Sites like Cointrader Monitor monitor Brazilian brokers. These sites will help you to assess the relevancy of the broker as well as whether they are able and willing to provide your assets as quickly as possible.
  • It is important to be cautious when you are considering a company that promises income. Bitcoin is a volatile currency. It is impossible to predict how the currency will change. Profits can only be made from the trading strategy that you have defined.
  • Transaction deadlines: Find out the deadlines for withdrawals and deposits in reais or cryptocurrencies. They can take as little as 15 minutes here at Coinext during banking hours. You can also request withdrawals at any time.
  • Security: To ensure your trading is secure, make sure that the exchange offers protection against intrusion.

Run from the pyramids The company’s promise to pay is being kept even though new people come in and put in money. The company is able to pay its customers in any case because it has cash flow. It is not possible to sustain a market for more than a few years before the promises of gains stop being realized. New users pay an entrance fee to pay their old counterparts. However, at some point the new user’s entry is insufficient to pay the old one.

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