Your Crypto Exchange is a Business Partner - Choose it Like One

Crypto is now an essential part of finance in the tech startup world. Whether the founders of the company are developing a Web3 protocol or just venturing the company's treasury into cryptocurrencies, handling digital assets is a basic business skill.

Your first step is to find a cryptocurrency exchange you can trust.

But remember, where you live plays a huge role. You can't expect the regulations and their banking alternatives to be the same everywhere.

Think Beyond the Platform

When you pick an exchange, you aren't really only picking a tech platform; you are picking a key business partner. 

Can it grow as your company does? Does it allow team accounts, connect with other software, and provide records for audits? Exchanges change as your company does, with flexible limits, good data, and business-level reports. Think of your exchange as a financial buddy, and you'll build a stronger base for what you do.

Find features that support a real business, like:

• Team accounts.

• Connections to other company software (APIs).

• Easy access to records for taxes or audits.

By picking a true financial buddy, you build a stronger company from the start.

Three Things That Matter When Choosing a Crypto Exchange

Every entrepreneur must consider exchanges depending on three things before plunging into particular platforms:

1. Control and safety: This cannot be compromised. Find exchanges registered by some of the well-known financial authorities. For instance, in the US, this comes from FinCEN, and in the European Union, this is presently taking the form of MiCA (Markets in Crypto-Assets). You can utilize security measures such as two-factor authentication (2FA), cold storage, and proof-of-reserves to keep your funds safe.

2. Liquidity and asset variety: A new company deploying capital, or a DeFi project that must find liquid units, will have to seek exchanges with adequate trading liquidity. You also need an exchange with a good variety of coins. Being able to trade Bitcoin, Ethereum, and other altcoins is what lets you spread your investments and explore new opportunities.

3. Fiat on-ramps and user experience: The best exchanges provide seamless bank deposits, debit card purchases, minimal wire transfer rates, and most importantly, have a robust and usable website that allows you to execute what you want to expertly.

   
   

Your Location Matters

The best exchange is purely based on where you live and where the operations are. A Singapore-based founder will access different best platforms as compared to London or Sao Paulo-based founders.

For example, founders who work in or aim for the Oceania market should look at platforms that fit their money system. Searching for a reliable crypto exchange in New Zealand will lead you to platforms like Easy Crypto Australia (which serves NZ) and Independent Reserve, which has built a strong reputation, relative to complying with local legal requirements and having cross-border NZD deposit and withdrawal options.

Choosing an exchange for where you live not only keeps you compliant but may also save you money or provide you with improved support or peace of mind.

Think Multi-Chain, Think Institutional

For forward-thinking entrepreneurs, an exchange is about much more than just spot trading. The following innovation wave is:

• Decentralized exchanges (DEXs): These kinds of platforms, such as Uniswap and dYdX, provide non-custodial trade, which is consistent with the main principle of Web3, namely, “not your keys, not your coins”. It is essential for DeFi startups.

• Institutional-grade services: With startups, services become more needy as they expand. Top trade tools, special account help, and more insurance on assets (not just for small buyers), like Coinbase Prime and Kraken Pro, give special services to a business. 

Do Your Own Research

Now more than ever, you need to do your own homework. The cryptocurrency exchange will be a basic business ally. It holds your assets, it helps run your business, and it must comply with the rules and regulations of where you live.

Question security audits, learn the fee structure, and first test the user experience on a small scale. In the end, a little strategic thinking with this decision will turn signing up to an exchange into an actual advantage for your business. This forward thinking about your financial infrastructure lowers future problems.