How to Identify a Scam Crypto Exchange?

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Most of the time, the choice of a crypto exchange makes the trading experience either a breeze or a nightmare for novices. But with so many options (since there are hundreds of crypto exchanges out there), there’s a slight chance you’ll come across a scammy one.

Yet, how do you separate the wheat from the chaff? To make sure you don’t happen to deposit your funds to an exchange that’s only going to get away with the money and to help you separate the wheat from the chaff, we’ve elaborated on the key factors to pay attention to.

In the world of digital assets, prices tend to change in a split second. You, as a trader, might want to make moves during these price fluctuations and buy coins that have the potential of going to the moon or sell the ones that are likely to flop without waiting for too long.

To be able to get the most out of every moment in crypto, the exchange you have deposited your money into should fulfill your buy and sell orders promptly, at a price as close to the one you previously set, without making you pay a big markup.

That’s exactly why crypto exchanges have to be liquid, and the ones who are typically have a continuously high daily trading volume. It’s safe to say that crypto exchanges are more or less liquid depending on the number of users they have.

It also goes without saying that scam crypto exchanges don’t have large bases of users, or users trade their assets infrequently and the number of orders is quite low. When no one is willing to buy or sell cryptocurrencies, you have no other choice but to sell at a dramatically lower price or buy at an outrageously high price.

No matter if you are a