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At Coin Insider, we aim to provide readers with a platform that recommends products and services that we believe will assist them in making informed decisions regarding cryptocurrency investments and trading technology. To ensure that we are giving our readers sound advice, we believe it is our duty to screen, test, and review anything that we promote on Coin Insider.
Here is what we test for when reviewing a product:
What gets tested
To conduct a thorough investigation, we test a number of different aspects when reviewing cryptocurrency technology. Below are the generic aspects that we consider across the board when reviewing the products:
Sign-up process and getting started
We start right at the beginning with the sign-up process. Because signing up is the first contact people have with a crypto platform, it is an important aspect to consider. If the sign-up process is not efficient, it is likely that the product and user interface will match that experience. We report on what information the prospective user needs to provide, what KYC requirements they will need to fulfil, the verification process, and what kind of account they will be able to register for.
Deposits and withdrawals
Once a user has created an account, they need to deposit money into their account to begin trading. Here, we review how easy or complicated it is to deposit and withdraw money when using the product. To make a decision on the deposit and withdrawal process, we consider the number of available payment methods, whether there are deposit limits, deposit fees, and the ability to deposit a variety of currencies and crypto tokens.
Available assets and ways to trade
Our readers are spread across the world, so we like to ensure the product caters to different markets and fiat currencies. We inspect the assets that are available to trade as well as the number of different trading pairs.
We examine the various ways users can get exposure to the cryptocurrency market using each platform. This can vary depending on the reader’s jurisdiction, and we make it a priority to dispel any confusion that may arise from this. We look at whether a platform offers the following assets:
- Spot trading
- Margin trading
- Leveraged trading
All fees involved
There are a few different fees to consider for our readers when reviewing products. We consider all the possible fees involved when using the product. The following fees are reported:
Some products require the user to pay a sign-up fee.
Deposit and withdrawal fees
Because our readers will be looking to make multiple deposits and withdrawals, we investigate the fees that these actions will involve.
These may come in the form of a bid/ask spread, a flat rate trading fee, a percentage commission, or a combination of these.
Network transaction costs may be incurred when transferring cryptocurrency between wallets, trading accounts, or other addresses. We try to inform our readers of these because they can be unpredictable. We ensure that the overall anticipated costs are a comprehensive summary.
- Speed and user experience: The user interface is a major factor that we consider because the product needs to cater to both beginners and experienced traders. To assess this, we physically test the platforms to see how user-friendly they are and how smoothly they operate. This includes the speed and responsiveness of the platform, how easy it is to navigate, how seamless it is to place trades, and how well the platform caters to beginner and experienced traders.
- Guides and demo accounts: To cater to our readers who are new to crypto trading, we assess if the product is beginner-friendly with regards to guides and features like demo accounts to help ease the user into their trading experience.
- Cross-platform compatibility: We look at the several channels readers can use to access the product. This can be desktop software, a smartphone app, a web-based app, and so forth. It is crucial to be available to as many people as possible, thus we evaluate how simple it is for users to trade using the product.
- Additional features: Lastly, we look at the additional features presented by the product and how they are differentiated from other products on the market to help our readers make a good overall decision regarding the products we review.
- Customer support: Because we cater to readers that are new to crypto as well as experienced traders, we believe that a customer care department is a prerequisite when considering the various products on offer. We look at the type of support offered to users on the platform.
Regulation and security
We also review where the product is headquartered, and whether it is subject to national or international financial regulations. This can affect whether KYC/AML compliance is necessary, and can influence whether or not anonymous purchases are possible.
Regarding safety, we want to ensure the utmost safety for our readers, particularly those new to cryptocurrency. For this reason, we thoroughly investigate the security and safety assurances made by each platform to help assure our readers that they can invest rest assured.
We consider the presence of additional precautions like 2-factor authentication in various forms (physical, mobile, email, or others), anti-phishing measures, biometric password protection, as well as data protection and insurance measures involved when using the product. We assess whether the wallets are secure, check that there is no record of data breaches and if recovery is managed.
The review process
To produce unbiased, consistent reviews of all products, we use a standard procedure. There are five steps in this procedure, which start before the test is conducted and extend once the test is finished.
Step one: Research
The first stage involves assessing a product’s claims, offerings, and general reputation. This gives us an idea of what they do and how they are perceived. This includes reviewing forums, other reviews, trust aggregators, and online user reports.
Step two: Test
The next stage is to test the product by using the platform in question. We believe this is a crucial component when reviewing a product or service because it’s the only way to get a realistic experience of how the product functions.
Step three: Write
Once the testing stage has been completed, a full report is compiled with a comprehensive breakdown of the experience and the research conducted, following a structure that includes the important aspects our readers need to make informed decisions.
Step four: Edit
Once the review has been compiled, a full review of it is done to ensure the content provided on Coin Insider is put together in a coherent format for our readers. This also ensures accuracy in the information provided to readers. This step is important because it ensures easy reading for those who are new to the crypto space, while simultaneously providing detailed information to satisfy experienced traders’ needs as well.
Step five: Revisit
Finally, we make sure to revise and update our reviews on a regular basis to ensure that the information provided to our readers on Coin Insider is up-to-date and factual. Because technology and the crypto industry are evolving at such a rapid pace, we make sure to keep our readers in the loop with the latest news.