If you are just beginning your investment journey with cryptocurrency, there are a few things you should keep in mind. There are a few basic rules of investment when it comes to crypto and read through this crypto blog to get to know the important ones of them.
- Invest how much you can afford to lose in crypto. At the same time, ensure that your crypto investment is not more than 5% of your total investment.
- Choose the trading app wisely as it makes a big difference.
- Get a wallet to store your crypto as soon as you are done investing.
- Cryptocurrency is highly volatile so if you are looking for long-term gains, look at the cryptocurrencies with the highest market cap.
- Don’t follow the trends blindly and take a look at the facts before you invest.
- Take a look at the history of the cryptocurrency and notice any lawsuits, unpleasant news articles, or anything negative.
If you look at the things to follow, then almost everything revolves around having a good trading app. If you are looking for one, what are things to remember? Here is a list you can follow.
Take a look at the history
If you are going to trust an app or a website with your sensitive information and hand over money, it is only fair you find out everything you can about the background. Verify the existence and services offered by the app by talking to friends and family and by reading about client feedback online. The history of the app will tell you how long it has been in business, how many clients it has, which cryptocurrencies are listed on the platform, and any unpleasant news or fraudulent claims by previous clients. While looking at the history, it is also important to look for the efficiency of the trading app. For example, in case of sudden high-volume transactions, the app should not fail you and crash.
Simple and convenient to use
If you are looking for a trading platform, it means either you wish to change yours or you are a budding investor. If you are just beginning your investment journey, then you need a trading app that is simple to use and encourages transparency. Use all the tools available in the trading app to learn more about the market and make informed decisions every time you make an investment.
Robust customer support system
If you are looking to change your trading app, then one of the major reasons would be customer service. There are many trading apps available but the ones that catch the eye of experts are the ones that provide exceptional customer support. In case of a query or problem, customer support should be available to you 24/7. This is especially important for a crypto investor as the crypto market is open at all times of the day and all days of the week. A few seconds of delay can cause immense losses.
Another prominent reason for a switch from your trading app would be the trading fees. If you are someone who trades a small amount of crypto or believes in day trading, then it is extremely essential to know the trading charges. If the fees are exorbitant, then your profit margins reduce considerably. At the same time, if you are looking at crypto as an investment, high trading fees can take a big chunk out of your investment.
Trading apps are not only responsible for facilitating the exchange. They are also responsible for educating regarding the market trends, techniques, various strategies, expert opinions, forecasts, and scams. This means the trading app is also responsible for warning you regarding any pump and dump schemes that are suspected in the market.
Keeping up with the trends
Since the crypto market is constantly evolving, your trading app should keep up with the trends and make those available to you as well. For example, the latest feature of trading apps is the crypto SIP. Take a look at all the trading apps in the market and consider the one that is offering the most services at the best price.
Speed of the trading app
This is one of the most important aspects of any trading app. If the app is slow, you can lose a large part of your investment within a few seconds. If you wish to keep up with the competition, then a fast trading app is a necessity.
Since you are looking for the best crypto trading app in India, you should take a look at CoinSwitch. The excellent customer service, simple interface, and ease of trading make this one of the best apps available in the country.