Trade Expert Leonardo Gonzalez Dellan Outlines Ways To Choose Legitimate Cryptocurrency Exchange Platform
Cryptocurrency is an emerging medium in many transactions online. Many prefer it because of how fast it is, as well as the security that comes with it. However, Leonardo Gonzalez Dellan explains that although cryptocurrency is an exciting way to go about trading without relying on cash—something that he has extensively written about— users should still be weary in using it.
Identify where the entity is registered
For the user’s protection, Leonardo Gonzalez Dellan explains that it is important to find out where the entity is registered. This gives the user the idea what to do should anything go awry, and how he or she can protect his or her investments in cryptocurrency. Mr. Dellan advices choosing one that is under the jurisdiction of the European Union, which has one of the most well-established policies in cryptocurrency so far.
Sign up process for investors
Another thing to consider is how rigorous the process for investors is. What documents does the entity require, and how strict are they in following the procedure? This would give the user the assurance that the entity screens its investors properly, and makes sure that the users are legitimate, and credible enough to be part of a highly volatile industry.
Policies in place
Would-be investors need to take a look at the entity’s anti-money laundering (AML) policies as well as Enhanced Due Diligence (EDD) policies. This reflects how seriously the entity treats suspicious activities in the system, and how keen they are in maintaining a legitimate and credible market for their investors. This is especially necessary for investors looking for long-term commitments in the platform.
Traditional trading and cryptocurrency both have their risks, but the important thing is that investors know how to discern legitimate ones that are worth investing in. Cryptocurrency is relatively newer, and with the use of internet in going about deals compared to papers and phone calls, some may think that it could be riskier as well. How the entity ensures the legality and credibility of its system and investors speak true of how committed they are in making the market a long term trading system for its investors.