The economic situation in which the world finds itself seems to be the best investment option, says the most famous economists who make their analyzes on a monthly basis for the situation with Covid-19 economic crisis caused by the global pandemic. For this reason, many entrepreneurs have decided to take their savings out of the banks and direct them to a business, and there are those who have decided to direct their savings to shares in large corporations. However, the best decision is the decision of those from the third group of enthusiasts who decided to invest their money in cryptocurrencies and ride the crypto roller coaster, which day by day has a positive change in the situation and some good news about the successes they record.
The world of cryptocurrencies is a success story that has been going on for 10 years. During that period, a large number of traders appeared but also left that market, and the profits they had were enormously satisfactory. The good thing about this type of virtual money is that it is regularly developed, upgraded and offers great opportunities for everyone who is part of that sphere. A number of platforms have been developed that facilitate trading with them, a number of electronic wallets that provide safe and reliable storage of digital coins, and a large number of manuals, tips for all new people in the market. But there is one small problem that all owners face, it is the failure to exchange cryptocurrencies.
Impossibility to make a crypto exchange or uncertainty to make the exchange – these are the two most common sentences spoken or written by online traders. Anyway, it is uncertainty in making a change from crypto to one of the real factual currencies that traders face, but also a big headache that creates stress. However, it does not matter if you have a large number of digital coins and fail to convert them. It’s a big headache for which a solution must be found, and until then it remains to know how to recognize such precarious actions and precarious exchanges. Wondering how? In addition, we provide you with how to recognize the signs of an insecure exchange.
Table of Contents
1. You get less than you should get
When you decide to convert crypto to the actual currency you need to specify the currency in which you want the conversion to be made. Check for yourself before making any conversion because each exchange page makes changes according to their different conditions, but also different values. Check for yourself how much you should get, and then change the coins. But know that many sites do not give the amount they need to pay for a given unit of crypto, say from crypto-genisus.com. It is common knowledge on the internet, comments are everywhere and you can read them yourself. That’s why you need to be careful and watch out for who you trust.
2. You do not receive any confirmation of the action performed
It is very important when making a conversion to receive some confirmation. Wondering why? We will now give you an example. Let’s say you want to change some of the total amounts of crypto you have in your e-wallet. You decide on a service that you have found but have not tried yet. You enter as much as you want to try and even though they do not give you an overview to see for the number of coins how much real money you get you to click on ENVELOPE. According to your calculation, you should get a larger amount of money, and according to what you received it is not so. You need to have the confirmation with you in such cases when there is a misunderstanding and you must contact the competent institution where you will report the irregularity or submit proof to the contact center of the website (if any).
3. Have a bad website design
Bad design often publishes those internet services that are fake or that have a bad and unreliable service. This is also the case with this service, which digital money owners often need. So if you decide to convert your digital money into real money then make sure you find a page that will be satisfactorily good and that will offer good service. If the site has a bad design and poor hosting then it is just one more reason not to use the services because in the end you can easily end up with a small amount of money or end up without your money.
4. They do not have a site security badge
When an Internet user is looking for a page that would be satisfactory, but above all safe and accurate, then the user needs to look for a security and safety badge. That badge is usually located at the bottom of the web page. It is usually issued by the officers of the cyber protection departments or a special organization that deals with such certifications. If the page you have chosen does not have these badges then it would be better to think and decide if it is worth doing your conversion there or you will wait to find a safe place where you can easily complete your conversion task.
5. They have a bad rating on the internet
Before you decide to make any change to cryptocurrencies we recommend you research the internet. Research and check which page has what rating and what are the comments of previous users. You can do the same on the forums where there are special topics for all work with cryptocurrencies. Read carefully and see where it is good and where it is not good to exchange crypto for money. Be careful and do not be in a situation to believe in someone’s professionalism and lies, read regularly and inform yourself before taking any step.
Be very careful, do not succumb to everything you see, and always be informed about all products and services on time. Pay attention to your internet security when it comes to cryptography. Think, review, calculate and only then change them, just right?