Cryptocurrency exchanges are websites are apps where you can buy, sell or exchange cryptocurrencies for other digital currency, fiat, or traditional currency like US dollars or Euro. There are fancy trading tools for those that want to trade professionally. One will likely need to use an exchange that requires you to verify your ID and open an account. If you just want to make the occasional, straightforward trade, there are also platforms that you can use that do not require an account.
Crypto Exchanges provides many characteristics. Having used and visited a lot of cyptocurrency exchanges, I have identified different features that separate the good from the bad:
1. Plenty of options for Payment methods. The exchange should have the ability to accept a range of choice for depositing and withdrawing fiat/crypto. Such as Bank transfer, Credit Card, Paypal, or even cash.
2. Cheap and transparent commissions and transaction fees. Everyone hates to get over-charged. Paying the cheapest fees is always important. Some exchanges are very transparent about how much you will pay to deposit, buy, sell, store, and withdraw. However, other places are more discreet about how they extract fees from your hard earned money.
3. User-friendly and easy to use interface and transaction process. Users should not be intimidated when using the exchange interface. It should be easy and very understandable to use that it could accomodate beginners and the more advanced users.
4. Secured Transactions. Exchanges should let customers feel confident in their transactions. The exchanges should provide proof of coins in cold storage, users must verify their identity and location before depositing, offers and encourages customers to use two-factor authentication, and the operators resist and reason with regulator demands on how the exchange should be run.
5. Supportive customer service. It is important for customers to know that they could run into someone when problems occur. Good exchanges provide really fast to respond to customer queries, while others may take days to get back to them.
6. Wide cryptocurrency community interaction. It is important for exchanges to grow with its community so that they would be able to identify features to provide that is relevant to their customers.
While checking out an exchange to fulfill all the needs I wanted, I happen to stumble upon to a new decentralized exchange, CREEDEXCHANGE. Creedexchange is a decentralized token market that lets you buy and sell Ether and Ethereum-based tokens directly with other users. Creedexchange currently interfaces with EtherDelta's original smart contract and Forkdelta's backend upgrades which allows Creedexchange users to trade utilizing EtherDelta's volume and Forkdelta's security and API upgrades. I happen to know also that Creedexchange is a fork of Forkdelta and currently acts as an open source, updated interface for EtherDelta's smart contract with an active and public development team and community support.
With a growing community, Creedexchange created a community/utility token, CreedexToken. CreedexToken Token will be the reward system for community members for providing valuable information, community service or any other kind of useful participation within the community. Partnership with one of the safest and fastest wallet systems will
allow for easy rewards with CreedexToken own exchange token and easy transfer between community members. Community members can use the community token to tip each other, pay for services or to reward a community member or moderator. CreedexToken token will also be the official currency within the CreedexToken ecosystem, it will be used as a utility token and a currency to purchase service, digital product/assets and/or tangible item within the community.
Looking at the interface and neat features integrated in its exchange, Creedexchange has some potential and could compete with other known Decentralized exchanges in the market. Indeed, maybe this new exchange in the block may be worth checking up.
Check out the exchange at https://creedexchange.tech
You can alos visit thier social media channel for more info at
Twitter - https://twitter.com/creedexchange
Telegam - https://t.me/joinchat/GdkGY1MjQD5WyHFdHD2SdA