Crypto Exchange Checklist: What to Verify Before You Trade

When you pick a crypto exchange, a platform where you buy, sell, or trade digital assets. Also known as a cryptocurrency trading platform, it’s the gateway to your portfolio—but not all are built the same. A bad choice can cost you everything. That’s why you need a crypto exchange checklist—not a vague list of features, but real, testable criteria that separate safe platforms from traps.

Start with security, how well the exchange protects your funds from hackers and insiders. Look for cold storage, two-factor authentication, and whether they’ve ever been hacked. BEPSwap vanished overnight. Bittrex got liquidated. Abelo.Finance? A full-blown scam. These weren’t glitches—they were red flags ignored. Then there’s custody, who controls your private keys. If the exchange holds them, you’re trusting them with your money. That’s fine if they’re huge and regulated. But if you’re trading on a lesser-known site, you need a non-custodial wallet, a wallet where only you hold the keys. It’s the only way to truly own your crypto, especially in places like Algeria or other high-risk countries where exchanges can be shut down without warning.

Fees matter, but not like you think. A low trading fee means nothing if withdrawal fees eat your profits. Check the fine print: are there hidden fees for deposits, withdrawals, or even inactive accounts? Compare real user experiences—not marketing claims. Biconomy and KoinBay got praised because their fees stayed fair over time. RuDEX and Bitfinex? Users flagged sudden changes. And liquidity? If you can’t sell your asset without moving the price, you’re stuck. That’s why exchanges like Huobi Korea and KoinBay stand out—they support dozens of coins with real trading volume.

Don’t forget the basics: is the platform available in your country? Coinbase blocks users in over 60 nations. Does it have customer support that actually answers? Or is it just a ticket system that disappears? And what’s their legal standing? Trump’s 2025 crypto policy changes didn’t magically fix everything—regulation still varies wildly. A platform that’s clean today could be banned tomorrow. That’s why your checklist must include ongoing research, not just a one-time sign-up.

What you’ll find below isn’t just reviews. It’s a collection of real, unfiltered deep dives into exchanges that have failed, survived, or thrived. From dead platforms like BEPSwap to current players like Biconomy and Bitfinex, each post breaks down what went right or wrong—using the same checklist you’re holding now. No fluff. No hype. Just what you need to know before you click ‘Buy’.