If you’re watching the Super Bowl this Sunday, don’t be surprised to see celebs acting as cryptocurrency spokespeople in commercials for crypto exchanges. Aka where you go to buy and sell crypto. Think: Coinbase, Crypto.com, or Binance. But you'll need to see more than just an ad (or Matt Damon) to know which one is right for you. If you’re ready to invest in crypto, compare your options, and consider how each exchange stacks up when it comes to…
Fees
Many crypto exchanges charge a transaction fee based on the value of your investments.
Security
Two types of crypto exchanges — centralized and decentralized — offer different levels of security.
Centralized exchanges (hint: the platforms you’ll see ads for on Sunday) often run on private servers. Meaning hackers only have to hit one target to compromise your info. (Reminder: Enable two-factor authentication at every opportunity.)
Decentralized exchanges spread control across servers worldwide. Which often means less regulation and a little more individual security. But also no help if you lose your private key or want to cancel a pending transaction.
Coin Availability
There are thousands of cryptocurrencies available (think: Dogecoin, Ethereum, and Litecoin), but each exchange might host just a few different types. Make sure the coin you're looking for is on the exchange of your choice.
theSkimm
Crypto exchanges are going the extra yard to score new investors during the Super Bowl. And all the celeb-studded commercials might make you feel a little FOMO. But before you decide to buy, be sure you understand basic crypto concepts first. Then, compare crypto exchange options to find the right one for your money goals.
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