For those who invest in bitcoin, an important step that requires caution is the choice of the broker, better known as exchanges. This care is necessary to avoid losses caused by irregular cryptoassets trading offers. For such reason, when choosing a broker, it is essential to analyze the history of security and incidents involving the company. In case this had happened, it is also worth checking how the exchange behaved during the event.
Two bitcoin exchanges to invest in Brazil
Given the big increase in the number of bitcoin exchanges in Brazil and considering it is a new market, how can a foreigner choose the best? In this case, it is worth researching what leading industry experts recommend. According to the article on the website His Money, two Brazilian exchanges are standing out: Mercado Bitcoin and BitcoinTrade.
The first is one of the oldest exchanges in the country and, consequently, one with the highest liquidity, especially for investors who usually carry out higher value operations. BitcoinTrade, on the other hand, has as its advantage the fees, which are lower than the ones offered by Mercado Bitcoin. In addition, the company offers a good experience for the user and promptness in the approval of deposits and withdrawals. Among the cryptocurrencies offered by the exchange are the bitcoin, ethereum, litecoin, bitcoin cash and ripple (XRP).
Both have attractive rates, plus a good safety record. Both companies also operate with accessible and intuitive platforms. Another issue is that the two are usually dynamic when approving account openings, deposits, transactions and withdrawals.
Another point in favor of the two exchanges are their reviews in Reclame Aqui. Mercado Bitcoin has received a score of 8.2 out of 10 in the last 12 months. In addition, 78.3% of the people questioned by the portal said they would do business again with the company.
BitcoinTrade, in turn, has received a 7.9, 10 out of 10 in the last 12 months in Reclame Aqui. Asked by the site, 71.6% of the users of their trading platform said they would do business again with the broker. In short, what usually differentiates the two brokers are the experience offered to the user and the fees.
Whether with one of the two above recommended, or with other exchanges, investors’attention should go beyond the fees charged. One of the points is the daily volume of trades. The higher the volume traded, the greater the chance of finding buyers and sellers, facilitating negotiations.
It is also necessary to look at the average spread charged by the broker. In this case, the difference between the cryptocurrency’s quote in reais in the exchange and its reference quotation on the market, expressed in dollars, should be observed. The market quotes of the digital currencies can be verified on the site bitValor.
Another point to be careful is with the fantastic offerings that promise thunderous gains with cryptocurrencies. Thus, if there is doubt, the best thing to do is to search for sites like Reclame Aqui to check if people are complaining about the exchange or seek lawsuits against the company in the service area of the Securities Commission (CVM)..