Know How Bitcoins Are Purchased?

Online trading and currency trade online has attracted a lot of traders. The most common types on the online trading are the Bitcoin Exchange. But, if you do not know how to buy the Bitcoins, then let me tell you that you can pay with the wire transfer, credit cards, cash, PayPal, and more. You can use whatever works right for you and at your convenience. Also, ensure that you consider your privacy, for instance credit cards will not be the private way compared to the cash transaction.

bitcoin exchange

Exchange fees

You have to ensure that exchange fees are in reason and are not exorbitant when compared to the market. The fees will change with time and will differ from one bitcoin exchange to another. There are a few exchanges that will charge some extra fees on the top of the bitcoin transaction fees.

 Is exchange transparent?

The exchanges that are completely transparent may publish the cold storage addresses and audit info like how to verify the bitcoin reserves. The bitcoin audits are the good way for exchange to prove that they have got liquidity and will cover all the bitcoin exchange sales.

 Order book volume

Many exchanges with the decent customer base may publish the order book. This order book is just the list of buy & sell orders on an exchange offered. The higher volume book is the indicator that the people are using this exchange and exchange has got liquidity. Even though it is the important indicator, exchange that does not publish the order book does not mean it is not legit; it may not have such function yet and has the smaller volume than any other larger exchanges.