It is currently tricky to differentiate a fraud crypto trading platform from a legit one. And this is the reason why many clients still find themselves hiring fraud companies. There are some ways you can use to distinguish between a genuine crypto trading platform and a fraught one. These ways are discussed in this article as follows.
License and other credentials. The first way you can distinguish a real and legit crypto trading platform from a fraud one is by checking the credentials possess. It is in the law of every state that before a crypto trading platform is allowed to operate in the market, it must be scrutinized by the state authorities and only those that are found qualified to be licensed. Therefore, if you want to partner with a crypto trading platform that is qualified and licensed by the state authorities, you must check its work permit. But some fraud crypto trading platforms have fake license and other credentials that they are using to dupe clients in the field. For that reason, as a client you need to be keen to verify if the document that the crypto trading platform possess is valid or not. Therefore, you should ask for license number to concrypto trading platform if the crypto trading platform is indeed legit or not.
History and reputation of the crypto trading platform. You can also know if a crypto trading platform is legit if not by checking its history and reputation. Most crypto trading platforms that have good history and reputation are those that have been in the field for a long time. And for a crypto trading platform to be in the field for a long time, it must be one that is known by the state authorities, and other stake-holders. For that reason, no crypto trading platform can be in the field for many years if it is a fraud service provider. Therefore, if you want to identify a legit crypto trading platform in the field, go for one that has a good history and reputation.
Therefore, if you want to know if a crypto trading platform is legit or not make sure you check its license and other credentials. Also check if the crypto trading platform has a good reputation and history in the field, and not forget to check its ranking positing in the market and search engine.
