Introduction

All of us use a particular stock exchange for trading purposes. We use the Bombay Stock Exchange (BSE) or National Stock Exchange (NSE) in India. Similarly, we use crypto stock exchanges for trading and investing purposes. Since the crypto-verse is decentralized, there is no centralized authority for crypto exchange entities; instead, we have multiple crypto exchanges in every country. There are approximately 600 crypto exchanges worldwide, narrowing it down to India; there are approximately 15-16 crypto exchanges in India. Now the problem arises which crypto exchange an investor or trader should use? Which one is the best crypto exchange of all? Well, the solution to this problem is a complicated and arduous task. It requires detailed market research and analysis of all the crypto exchanges in the crypto-verse.

Let us overview all the fundamentals an individual needs while dealing with any crypto exchange. These fundamentals will help you choose the most suitable crypto exchange for yourself. These fundamentals are just the starting point of the journey. Traders and investors will need to do their research in such a framework while dealing with crypto exchanges.

Parameters for best crypto exchange

• The total number of Listed Coins at the crypto exchange- Although the crypto exchange is the best platform for a beginner and an expert in the crypto-verse. Every individual, whether a beginner or an expert, must make a checklist and verify whether their concerned coins are listed at the exchange.
  
  
• The scale of the liquidity- The amount of liquidity is also a significant factor in considering a crypto exchange. Here liquidity means the ability to convert crypto into fiat money or vice versa. The crypto market is highly volatile and dynamic. The prices of cryptocurrencies change within minutes. So the top priority of any trader/investor would be to sell or buy any crypto at their specific targeted price. For swiftly conducting any transaction, the crypto exchange should have some stipulated cash flow so that its users will incur no loss while transacting. Higher the liquidity, the higher the speed of transaction. The liquidity depends upon the volume of trade happening on the platform.

• Transaction fees- Every crypto exchange has a different transaction fee and mark-up fee for a transaction. The individual should do his/her proper research by comparing all the crypto exchanges in the crypto-verse and then decide which one suits him/her best.
  
  
• Security Compliance-Since it is an online platform without a hierarchical authority or regulatory body. It can become the target of hackers. So we should always opt for an exchange that has complied with all the mandatory security compliance issues in the IT industry, making it a hack-free platform. Furthermore, each exchange needs to provide a crypto wallet; hence security is of utmost priority to prevent any cyber attack.

• Insurance Coverage- Although security is the primary factor in evaluating a good crypto exchange. Still, for protection from any mishap, like online fraud, online theft, or any cybercrime associated with crypto trade or transaction that happened through a crypto exchange, many crypto exchanges have started to include commercial crime insurance for the safety of their users. The individual should check whether their exchange provides insurance. 
  
  
• Deposit & withdrawal limit-There is no limit on deposit of cryptocurrency; however, there is a limit on withdrawal of crypto. The limit varies from exchange to exchange. The individual should compare the withdrawal limits of all the crypto exchanges and decide accordingly.

• Credit Limit-Many crypto Exchanges provide the facility of margin money and leverage money. Traders/investors who want to trade or invest beyond their capacity can avail credit limit. Every exchange has a different set of rules regarding credit limits. Individuals who are interested in availing of this facility and ready to take such a risk can do their research on which exchange is suitable for them.

• Market Reputation – The marketing and branding of a crypto exchange also matter a lot. Testimonials of user experience and how much popularity it holds in the crypto market should also be kept in mind while choosing your suitable crypto exchange. It is the easiest and quickest way to assess any exchange because we consider the commentary of experts and users of cryptocurrency. However, it should be kept in mind that this does not mean the neglection of other parameters.

For individuals who cannot do personal research or find it difficult for themselves. They can use this market reputation parameter. As of now, in the Indian crypto market, COINLORD is one of the most reputed crypto exchanges in India. It holds the best and most fantastic user experience. COINLORD has stood out on all the parameters used to evaluate a crypto exchange, whether its security compliance rules, insurance policy, and 100% credit limit with all the prominent crypto coins listed.  

Through this above study and incorporating all factors mentioned above in our market research methodology with qualitative/subjective analysis. We can determine which exchange is best for us. Our research on crypto exchanges should be accurate if we want to experience gains from the crypto-verse.