How to Choose your best Peer-to-Peer crypto exchange in Hong Kong
The growth in the popularity of users and service providers in the cryptocurrency world has given rise to a lot of potential in the market, particularly for entrepreneurs and crypto investors and general users. However, not all exchanges are created the same.
From security issues to fraud, participants in the crypto space face a lot of challenges which need to be made aware of as one bad experience can deter you from adopting one of the most revolutionary inventions in finance.
A novice crypto adopter would easily go with the exchanges with the most advertisements. However, it is important to note that consumers need to be aware of the local regulations which ultimately determine the degree of protection and security a crypto exchange can provide to you. The following are some crucial factors for you to take into account when choosing a peer-to-peer (P2P) crypto exchange.
When making a choice of which crypto exchange to put your trust in, it is crucial to consider the level of security offered by the exchange. Security features will protect not only your assets with the crypto exchange, but also your privacy such as your name, date of birth, address, contact details and passwords.
Some exchanges like Bitprive have adopted additional layers of security for the users such as adopting two-factor authentication (2FA), email and in-app confirmation and also HTTPS web security rather than the obsolete HTTP.
As with all industries, there are people online trying to scam people with all sorts of schemes and plans. With the abundance of exchanges that are available to us today, we would highly urge you to perform some background research before you sign up and put your hard-earned money into some other people’s hands.
To list a few, you should always start by researching whether the exchange is a lawfully incorporated entity. At Bitprive, we are headquartered in Delaware, USA. All our information can be found online on reputable government websites.
If you are a careful consumer, you would also want to try to get in touch with the platform before signing up. To make sure you are not talking to a bot, you may want to get in touch with the platform via email or phone.
Not all governments are crypto friendly and some just take a longer time to adopt new technologies. Therefore, you should always check the legality of crypto in where you are resided to make sure the laws can afford you the protection as a consumer.
Due to it’s decentralized nature, there isn’t a fixed fee for participating in crypto investments. Basically, platforms are free to charge what they see fit, that’s why it is important to understand all fees including the hidden fees before you deposit into a crypto exchange. Our fees are fully transparent and are updated periodically. Please visit our FAQ for more information.
About Bitprive (BPVE)
Bitprive is a Blockchain startup focusing on developing a regulated global cryptocurrency OTC marketplace with 180+ popular payment methods in the world.
Verified users can list buy and sell offers on the Bitprive platform for multi-cryptocurrency trading with a wide range of digital and physical payment methods. On top of providing the platform technology and matching services, we also provide the BitEscrow Network where crypto is held in our Bitprive hot wallet before the payment is confirmed. Once the seller confirms payment, Bitprive releases the crypto from the BitEscrow Network to the buyer’s Bitprive wallet.
At Bitprive, we value security and efficacy.