What Is A Cryptocurrency Exchange?

What Is A Cryptocurrency Exchange?

Cryptocurrency has become internet’s buzzword nowadays. We come across words like Bitcoin ethereum many times during a day. these are all cryptocurrencies which is the fastest way to make money nowadays. Cryptocurrency aren’t purchased from your bank or investingfirm. To step into the world of cryptocurrency trade you need to create an account on Digital Cryptocurrency Exchange.

 

WHAT IS A CRYPTO EXCHANGE

 

A Cryptocurrency Exchange is an online marketplace where users can buy and sell cryptocurrencies for Fiat currencies and also can exchange cryptocurrencies for other cryptocurrencies. Cryptocurrency Exchanges are decentralized which means they are not backed by a central authority like government.

They are similar to an online stock exchange where users can buy sell and trade any cryptocurrencies and all their holdings will be stored in their wallet.

 

ADVANTAGES OF A CRYPTO EXCHANGE

 

User friendly:-

 

Crypto exchanges are user friendly which allows beginners to start trading at an ease.

 

Also Read: How To Fix Kraken Exchange Issue

 

Prevent market manipulation:-

 

Due to their nature of allowing peer to peer exchange of crypto currencies, exchanges prevent market manipulation, protecting users from fake trading and wash trading.

 

Flexibility in currencies:-

 

Cryptocurrency Exchanges offer trade of different cryptocurrencies. they support all kind of Fiat currencies and digital currencies as well which makes it easy for the users as they can trade cryptocurrencies with their respective Fiat currencies such as dollars euros sterlings etc.

 

 

Earning from Cryptocurrency:-

 

there are also some exchanges which allows you to earn from your purchased cryptocurrencies. they offer interest on your purchases which is similar to a bank’s interest on your savings account.

FAMOUS CRYPTO EXCHANGES

 

Although there are a lot of Crypto Exchanges available now a days but there are some Crypto Exchanges which are are which are there mediating the trade of cryptocurrencies. Coinbase, kraken, Coinmama are some of the the oldest and safest crypto exchanges. They facilitate trading between millions of customers around the globe and offers hundreds of cryptocurrencies to choose from.