What Are Cryptocurrency Exchanges
Cryptocurrency exchanges are platforms that facilitate the trading of cryptocurrencies for other assets, including digital and fiat currencies. In effect, cryptocurrency exchanges act as an intermediary between a buyer and a seller and make money through commissions and transaction fees.
On common cryptocurrency exchanges, $100 can be exchanged for bitcoin of equivalent value, and vice-versa. Similarly, bitcoin worth $100 can be exchanged for Ethereum of equivalent value. The same concept can be applied to different assets based on what is offered by the exchange.
Centralized vs. Decentralized Cryptocurrency Exchanges
Centralized cryptocurrency exchanges act as a third-party between a buyer and a seller. Since they are operated and controlled by a company, centralized exchanges offer more reliability. Approximately 99% of all crypto transactions go through centralized exchanges. Examples of centralized cryptocurrency exchanges include:
Coinbase is the number one cryptocurrency exchange in the U.S. Click the link here to get an acoount with Coinbase!
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Binance is the largest cryptocurrency exchange in the world. Due to it not being regulated, it had to create a version that abides by United States regulatory statutes. Click here to sign up for Binance as a U.S. citizen.
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Kucoin is a great alternative to Binance. It has low trading fees and a very strong user base. It has more options than Coinbase and is geared for intermediate crytocurrency traders. Click here to sign up for Kucoin.
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Bitmart is an exchange that offers low trading fees and supports various digital assets that may not be on other exchanges. Click here to sign up to Bitmart.
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Crypto.com is the fastest growing cryptocurrency exchange in the U.S. Just recently the Staples Center located in Los Angeles, California was renamed the Crypto.com Center! Click here to sign up for an account on Crypto.com.
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