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What is Cryptocurrency Exchange?

admin,March 13, 2018


What is a cryptocurrency exchange?

A cryptocurrency exchange is a service that can be used to trade currency into digital assets of good old fashioned flat currency.

An exchange is a business that offers the pax options to trade for goods and assets using cryptocurrencies instead of flat currency. The business will usually take a commision for their services or may also have a flat rate system.

Digital currency exchanges may be real time businesses trading from an address, or strictly online businesses, where the aim is only to trade the currency electronically with the least amount of effort.

How to choose the best cryptocurrency exchange?

Considering the billion dollar market the industry is still only lightly regulated, so as the exchanges are growing world wide it is imperative that investors properly research and check for red flags when deciding on an exchange. As there are many concerns that exchanges are possibly at risk for cyber attacks.

Investors need to evaluate the pros and cons of different companies, and exchanges as you would do with any institution that you would trust to access your funds.

Here are a few current exchanges that can be included as consideration:

  1. Finance : Fast growing exchange that has a mobile app .
  2. Bitmex : Used predominantly for margin trading.
  3. Bitfinex : Mobile app compatible and extra interest earning potential to lend out your currency.
  4. Bibox :  Has one of the best mobile apps that are updated often.
  5. Gate.io : Trading with many of the new cryptocurrencies that are appearing on the market.
  6. Changelly : Perfect for beginners and user friendly.
  7. Cryptopia : Undervalued currency can be located here.