The Banking Executive Magazine - November 2022 Issue

How To Pick The Best Crypto Exchanges? HOW TO PICK THE BEST CRYPTO EXCHANGES? INTRODUCTION This article is a brief guide for in- vestors to choose the best crypto ex- changes. The article starts with a brief overview of the various ways to invest in crypto currency, and then focuses on investing using a crypto exchange. The guide covers the im- portant criteria to choose a crypto exchange, the various types of avail- able crypto exchanges, crypto ex- changes fees, the various approaches for ranking crypto exchanges, how crypto exchanges works, and the pros and cons of using crypto ex- changes. The article also covers al- ternative approaches to invest in crypto currencies without using a crypto currency exchange, and fo- cuses on the use of crypto wallets. The article establishes a comparison between investing using a crypto ex- change and the alternative approach of investing using a crypto wallet. The article concludes with road ahead for Arab banks and authorities to establish regional research centres for crypto exchange market intelli- gence. The centres will carry the tasks of gathering data about world crypto exchanges, developing vari- ous approaches and methodologies to rank crypto exchanges, making available more resources to educate investors on using crypto exchanges, and playing a key role at national and global levels to regulate the crypto exchange market and put standards for ranking and evaluation of crypto exchanges worldwide. INVESTING IN CRYPTOCURRENCY According to Investopedia, invest- ment in cryptocurrency can take many forms, ranging from buying cryptocurrency directly to investing in crypto funds and companies. For direct investing in crypto coins, in- vestors can buy cryptocurrency using a crypto exchange or through certain broker-dealers. Transaction fees for the BANKING EXECUTIVE 8 ISSUE 167 NOVEMBER 2022 BY DR SOHA MAAD