The cryptocurrency market is huge – it covers the entire globe. It is logical that periodically there is a need to change one digital currency to another or to real money. Internet exchangers are used for this.
It is logical to learn more about the broker on the https://wellcrypto.io/broker/gate.io/ before making a transaction, but this alone is not enough.
Rules
Fraud is a common thing among exchangers. You can lose your digital assets completely or run into exorbitantly huge hidden fees. It is useless to contact technical support and file lawsuits – most of the activities of exchangers are outside the legal field. Therefore, the user needs to be extremely careful.
There are cryptocurrency monitoring services. On this, you can see the broker on the https://wellcrypto.io/broker/kucoin/, find out his reliability. Usually they also show the available currency pairs and the current exchange rate. If you have read more about cryptocurrency on the https://wellcrypto.io/broker/crypto-com-exchange/, then you know how important it is to track this course.
Before a large transaction, it is necessary to conduct several small ones to test the site. Scammers keep the money for themselves or skip only the first transfer. This tactic takes time, but saves your wallet.
If possible, use P2P transfers. This is the safest option.
With transfers to bank cards, you need to be especially careful. Banks are often suspicious of cryptocurrency transactions – they are perceived as a way to launder income, evade taxes, and withdraw foreign assets. If there is a need to exchange the crypt for real money, it is better to transfer it immediately into cash.
Requirements
Most of the cryptocurrency transactions are not regulated by the state in any way. A project has been provided that provides for the legalization of the crypt and, accordingly, its full state control, but it is unknown when this will happen, and whether it will affect all existing exchangers and exchanges.
Currently, any purchase of goods and services for digital currency is legally prohibited. And off-bank transactions with foreign fiat currencies are also prohibited.
From these data and what is behind them, it is easy to calculate the only requirement for a cryptocurrency exchanger: it must be registered abroad. This move takes the organization out of the Russian legal field. The user can freely use the exchanger only if, from a legal point of view, he is abroad.
