Altcoins Talks - Cryptocurrency Forum
Archive => Sorting Box => Topic started by: Dreamer on April 10, 2021, 09:15:38 PM
-
Cryptocurrency exchanges are online platforms in which you can exchange one kind of digital asset for another based on the market value of the given assets. The most popular exchanges are currently Binance and GDAX. It is important not to confuse cryptocurrency exchanges for cryptocurrency wallets or wallet brokerages. Cryptocurrency wallets and wallet brokerages generally allow you to buy and sell a small range of popular digital assets (Bitcoin and Ethereum), which you can then send to a different exchange to trade for other digital assets like altcoins. This statement is not entirely exclusive though; most cryptocurrency exchanges will usually limit their users to only trade digital assets for digital assets, but a few allow trades of fiat currencies such as U.S. Dollars for cryptocurrencies. An example of such an exchange is Kraken, which currently accepts funds in the form of USD, JPY, CAD, and GBP, and supports trades with Monero, Ripple, and Litecoin as well as Bitcoin and Ethereum.
Cryptocurrency Exchanges and Cryptocurrency Wallets
If the whole section above was confusing, do not worry–we will explain the whole process of buying, selling and trading cryptocurrencies using both exchanges and cryptocurrency wallets. If you wish to invest your fiat currency (such as US Dollars) into a cryptoasset, you will need to set up an online account. Currently, Coinbase is the most popular and among the safest methods one can use. On Coinbase, you can buy and hold the most popular, and useful, cryptocurrencies, chiefly Bitcoin and Ethereum. We will get to why these two are so useful later on. After you have set up this wallet, you can use your wallet’s address to receive coins and the ability to send coins to other wallets.
What if you don’t only want to invest in Bitcoin or Ethereum, but instead want to invest in some altcoins like Ripple and Stellar? If your wallet does not allow you to buy and sell these cryptocurrencies, then you would need to set up a cryptocurrency exchange account on a platform such as Binance. Once you have set up an account on a cryptocurrency exchange, you will need to send coins to this account to start trading. From your crypto wallet, you will need to send Bitcoin or Ethereum (or whatever medium of exchange the crypto exchange uses) to the corresponding cryptocurrency address on your trading account. Now that you have coins to trade, you can exchange them for coins such as Monero and Ethos. However, if you wish to cash out on these coins for a profit, the process is quite tricky. This is because there are no addresses or wallets publicly available yet that provide both storage and a fiat gateway (the process of exchanging international fiat currencies to cryptocurrencies) for most altcoins. Therefore, you will need to trade these altcoins back for basic coins such as Ethereum. Then you will send these basic coins from your cryptocurrency exchange account to the address on your wallet (we told you it would be useful!), where you can then cash out on these coins.
Processes like these may have extra layers of legal complications. Therefore, we remind our readers to please read and educate themselves on the cryptocurrency laws in their local jurisdiction before trading cryptocurrencies. Some countries, such as the United States of America, treat cryptocurrencies as property subject to capital gains taxes. Others make the buying and selling of such cryptocurrencies entirely illegal.
Learn more: What are Cryptocurrency Exchanges? (https://affiliatious.com/what-are-cryptocurrency-exchanges/)
-
Yup, that pretty much explains it...
-
great information but yet can be overwhelming for someone how is now to the crypto field and for someone who want to know more about exchanges and how they works and if his money are safe,so i believe trying to make things easier is the priority that we should set
-
You have provided very good information about cryptocurrency exchanges. I got your idea about cryptocurrency exchange from this post. Thank you so much for posting like this. Please let us know if you have any further updates.
-
Crypto currency is digital as well as virtual currency. It is not physical currency like US dollar. So we can not easily use it in many countries. there have some difficulties for using crypto coins. If we want to use it for money transection at first we need to know how to interchange crypto. For that purpose there have some Exchange by using that we can get physical money as far as I know.
-
Cryptocurrency exchanges is mainly used for converting the crypto coins into btc,eth,usd etc.There are many other crypto exchanges like binance,kucoin,uniswap,idex etc.By using this exchanges anyone can convert their crypto coins into btc,eth etc.
-
Cryptocurrency exchanges are online platforms in which you can exchange one kind of digital asset for another based on the market value of the given assets. The most popular exchanges are currently Binance and GDAX. It is important not to confuse cryptocurrency exchanges for cryptocurrency wallets or wallet brokerages. Cryptocurrency wallets and wallet brokerages generally allow you to buy and sell a small range of popular digital assets (Bitcoin and Ethereum), which you can then send to a different exchange to trade for other digital assets like altcoins. This statement is not entirely exclusive though; most cryptocurrency exchanges will usually limit their users to only trade digital assets for digital assets, but a few allow trades of fiat currencies such as U.S. Dollars for cryptocurrencies. An example of such an exchange is Kraken, which currently accepts funds in the form of USD, JPY, CAD, and GBP, and supports trades with Monero, Ripple, and Litecoin as well as Bitcoin and Ethereum.
Cryptocurrency Exchanges and Cryptocurrency Wallets
If the whole section above was confusing, do not worry–we will explain the whole process of buying, selling and trading cryptocurrencies using both exchanges and cryptocurrency wallets. If you wish to invest your fiat currency (such as US Dollars) into a cryptoasset, you will need to set up an online account. Currently, Coinbase is the most popular and among the safest methods one can use. On Coinbase, you can buy and hold the most popular, and useful, cryptocurrencies, chiefly Bitcoin and Ethereum. We will get to why these two are so useful later on. After you have set up this wallet, you can use your wallet’s address to receive coins and the ability to send coins to other wallets.
What if you don’t only want to invest in Bitcoin or Ethereum, but instead want to invest in some altcoins like Ripple and Stellar? If your wallet does not allow you to buy and sell these cryptocurrencies, then you would need to set up a cryptocurrency exchange account on a platform such as Binance. Once you have set up an account on a cryptocurrency exchange, you will need to send coins to this account to start trading. From your crypto wallet, you will need to send Bitcoin or Ethereum (or whatever medium of exchange the crypto exchange uses) to the corresponding cryptocurrency address on your trading account. Now that you have coins to trade, you can exchange them for coins such as Monero and Ethos. However, if you wish to cash out on these coins for a profit, the process is quite tricky. This is because there are no addresses or wallets publicly available yet that provide both storage and a fiat gateway (the process of exchanging international fiat currencies to cryptocurrencies) for most altcoins. Therefore, you will need to trade these altcoins back for basic coins such as Ethereum. Then you will send these basic coins from your cryptocurrency exchange account to the address on your wallet (we told you it would be useful!), where you can then cash out on these coins.
Processes like these may have extra layers of legal complications. Therefore, we remind our readers to please read and educate themselves on the cryptocurrency laws in their local jurisdiction before trading cryptocurrencies. Some countries, such as the United States of America, treat cryptocurrencies as property subject to capital gains taxes. Others make the buying and selling of such cryptocurrencies entirely illegal.
Learn more: What are Cryptocurrency Exchanges? (https://affiliatious.com/what-are-cryptocurrency-exchanges/)
Yes, a great explaination of crypto exchanges and i would like to to add some value to it by further describing the difference between centralized and decentralized crypto exchanges (https://www.shiftal.com/blog/decentralized-vs-centralized-exchanges/).
-
Cryptocurrency exchanges are online platforms in which you can exchange one kind of digital asset for another based on the market value of the given assets. The most popular exchanges are currently Binance and GDAX. It is important not to confuse cryptocurrency exchanges for cryptocurrency wallets or wallet brokerages. Cryptocurrency wallets and wallet brokerages generally allow you to buy and sell a small range of popular digital assets (Bitcoin and Ethereum), which you can then send to a different exchange to trade for other digital assets like altcoins. This statement is not entirely exclusive though; most cryptocurrency exchanges will usually limit their users to only trade digital assets for digital assets, but a few allow trades of fiat currencies such as U.S. Dollars for cryptocurrencies. An example of such an exchange is Kraken, which currently accepts funds in the form of USD, JPY, CAD, and GBP, and supports trades with Monero, Ripple, and Litecoin as well as Bitcoin and Ethereum.
Cryptocurrency Exchanges and Cryptocurrency Wallets
If the whole section above was confusing, do not worry–we will explain the whole process of buying, selling and trading cryptocurrencies using both exchanges and cryptocurrency wallets. If you wish to invest your fiat currency (such as US Dollars) into a cryptoasset, you will need to set up an online account. Currently, Coinbase is the most popular and among the safest methods one can use. On Coinbase, you can buy and hold the most popular, and useful, cryptocurrencies, chiefly Bitcoin and Ethereum. We will get to why these two are so useful later on. After you have set up this wallet, you can use your wallet’s address to receive coins and the ability to send coins to other wallets.
What if you don’t only want to invest in Bitcoin or Ethereum, but instead want to invest in some altcoins like Ripple and Stellar? If your wallet does not allow you to buy and sell these cryptocurrencies, then you would need to set up a cryptocurrency exchange account on a platform such as Binance. Once you have set up an account on a cryptocurrency exchange, you will need to send coins to this account to start trading. From your crypto wallet, you will need to send Bitcoin or Ethereum (or whatever medium of exchange the crypto exchange uses) to the corresponding cryptocurrency address on your trading account. Now that you have coins to trade, you can exchange them for coins such as Monero and Ethos. However, if you wish to cash out on these coins for a profit, the process is quite tricky. This is because there are no addresses or wallets publicly available yet that provide both storage and a fiat gateway (the process of exchanging international fiat currencies to cryptocurrencies) for most altcoins. Therefore, you will need to trade these altcoins back for basic coins such as Ethereum. Then you will send these basic coins from your cryptocurrency exchange account to the address on your wallet (we told you it would be useful!), where you can then cash out on these coins.
Processes like these may have extra layers of legal complications. Therefore, we remind our readers to please read and educate themselves on the cryptocurrency laws in their local jurisdiction before trading cryptocurrencies. Some countries, such as the United States of America, treat cryptocurrencies as property subject to capital gains taxes. Others make the buying and selling of such cryptocurrencies entirely illegal.
Learn more: What are Cryptocurrency Exchanges? (https://affiliatious.com/what-are-cryptocurrency-exchanges/)
Thank you. The great information. You discussed in detail about cryptocurrency exchangers and cryptocurrency wallets. There are many junior brothers who do not know much about this cryptocurrency exchanger and cryptocurrency wallet. Hopefully they can get a full idea about this from your post.
-
Cryptocurrency Exchange are platform which endorse patron to swap crypto currencies and also allow users to buy crypto currencies with fiat Currency using their bank cards or wire transfers, and you can trade your cryptocurrencies with pairs given by the exchange for example BTC/ USDT
-
Very great and nice write up I believe this will be very useful to newbie or people that are planning to go into cryptocurrency. Exchange is a place where by you can buy and sell different coins and you can also store coins there but is advisable you don't leave large amount of money on a exchange for a long period of time.
-
Cryptocurrency exchanges refers to a platform that allow cryptocurrency users to access the token and exchange the to token into various currencies of interest so as to utilize the token, also the exchange give an overview of how to trade crypto coin and the recent market conditions.
-
This is really helpful for people who are new to this world. Basically is like a marketplace, for crypto. You can trade them into different assets or monetary
-
Thanks for this information and I am also exchanging my bitcoin and other coins into other currency and I like to exchange bitcoin because it is having low gees the main problem is that many coins are having high withdraw fees.
-
A cryptocurrency exchange is a platform where you may buy and sell digital currencies.You may use exchanges to swap one cryptocurrency for another — for example, changing Bitcoin to Litecoin — or to buy cryptocurrency with fiat currency, such as the US dollar.There are currently many centralized or decentralized exchanges that allow us to do these transactions.I am using Bitay which is CEX.Everyone's preference is different, of course, but in general, the places where you can perform these transactions are exchanges.
-
A cryptocurrency exchange is a platform where you may buy and sell digital currencies.You may use exchanges to swap one cryptocurrency for another — for example, changing Bitcoin to Litecoin — or to buy cryptocurrency with fiat currency, such as the US dollar.There are currently many centralized or decentralized exchanges that allow us to do these transactions.I am using Bitay which is CEX.Everyone's preference is different, of course, but in general, the places where you can perform these transactions are exchanges.
Bitay? ??? I'am pretty sure that i have never heard about Bitay.Can you give some more information?
-
Thanks for your brief explanation about the crypto currency exchange. I have also information about these exchanges i want to tell you that there work is only to provide you the exchange you can exchange any coins from this exchange site. Just be careful of the fake exchabge sites.
-
A cryptocurrency exchange is a platform where you may buy and sell digital currencies.You may use exchanges to swap one cryptocurrency for another — for example, changing Bitcoin to Litecoin — or to buy cryptocurrency with fiat currency, such as the US dollar.There are currently many centralized or decentralized exchanges that allow us to do these transactions.I am using Bitay which is CEX.Everyone's preference is different, of course, but in general, the places where you can perform these transactions are exchanges.
Bitay is a brand-new exchange for digital money.They'll build their own #NFT exchanges and coins.They've already begun to receive accolades. The crew appears to be putting in a lot of effort. They create excellent bargains. They also retain all of their crypto assets in cold wallets.
-
Crypto currency is a platform where buyer buying some coin at a low price and selling it at a higher price for that transaction there need to exchanger that may dex means decentralized exchange or cex means centralized exchange both are essential for buying or selling coin. One the other hand there are many wallet available in the market like trust wallet for binance smart chain or myether wallet for ethereum network. Few example for dex is pancakeswap for binance and uniswap for ethereum network one the other hand few example of cex number one binance and gate.io etc.
-
I think you make a good lesson for all the users especially those who are new in the crypto space. Your lesson give the proper idea to understand what is trading and how does it work or how can you trade in the crypto currency and what are the exchanges. I just say again that crypto currency exchange is the platform where you can buy and sell listed currency. If you earn crypt by bounty campaign you have use exchange to liquid you assets money. If any one directly use this exchange then they will understand clearly.
-
Cryptocurrency exchange is a website where you can buy, sell or exchange cryptocurrencies for other digital currencies or traditional currencies such as US dollars or Euros. For those who want to trade professionally and have access to fancy trading tools, you may need to use an exchange that requires you to verify your ID and open an account. If you only want to make occasional, live trades, there are also platforms you can use that don't require an account. There are currently a number of platforms to choose from, but not all exchanges are created equal.
-
You have explained well about crypto exchange mate. In fact, when i was just newbie in crypto world, i only knew about Bitcoin and heard that it could be traded for my own country money . But i was confused how to do so . Later i come to know about crypto exchange where we can do P2P exchange and we can get cash via bitcoin . What a pretty way right ? Hope newbie will learn new thing from your this topic.
-
Choosing an exchange for yourself is a huge process, which is very important, now we are offered at least 20 exchanges that everyone knows, but everyone decides for himself with the choice. After all, the very first question that comes to mind is decentralized or centralized?
-
Choosing an exchange for yourself is a huge process, which is very important, now we are offered at least 20 exchanges that everyone knows, but everyone decides for himself with the choice. After all, the very first question that comes to mind is decentralized or centralized?
For exchange, I prefer use binance, it's my favourite exchange.
Binance has hug market volume and many features there.
I always use binance every day for my daily trading.
I enjoyed it.
-
Friends who commented beautifully explained what the exchange is.As for the stock market I use, its name is Bitay. :)
-
For exchange, I prefer use binance, it's my favourite exchange.
Binance has hug market volume and many features there.
I always use binance every day for my daily trading.
I enjoyed it.
Binance is the number one cryptocurrency exchange in the world. I like this exchange very much because the trading volume of any coin is high and the trading pair is maximum. I have recently completed kyc to trade here.
-
Your post is so educative. In cryptocurrency exchange, I prefer finance exchange because it has all the features I needed for all my transactions. With Binance I can easily convert my assets to my local fiat currency.
-
Cryptocurrency exchanges is mainly used for converting the crypto coins into btc,eth,usd etc.There are many other crypto exchanges like binance,kucoin,uniswap,idex etc.By using this exchanges anyone can convert their crypto coins into btc,eth etc.
Really? Exchange only used for converting our coin? Its seems you have less idea about trading because most of the time, we used exchange to trading. Trading kinda like sport trading, future trading and marging trading. And to do this kind of trading, you must need to have an exchange account but if you think exchange is for converting only? I suggest you to learn more about trading. Cheers mate!
-
A stock exchange is a venue where you can trade stocks, commodities, derivatives, and other financial products.You can follow your transactions such as buying and selling on an exchange of your choice.There are CEX and DEX exchanges, I generally prefer DEX exchanges such as Pdex. Preferences vary from person to person, so you need to know your own wishes when choosing
-
thanks that was alot of information you posted but i'm still having doubts of newly launched exchanges because someone need to keep an eye on these exchange brokers like in stock exchanges, but it should be monitored by a legit decentralised organization.
-
A stock exchange is a venue where you can trade stocks, commodities, derivatives, and other financial products.You can follow your transactions such as buying and selling on an exchange of your choice.There are CEX and DEX exchanges, I generally prefer DEX exchanges such as Pdex. Preferences vary from person to person, so you need to know your own wishes when choosing
Do you know Polkadex has both Cex and Dex features?
-
But I still got a question man. What if so many users want to sell there coins at any exchange and want to convert there coins into USDT, and exchange don't have as much USDT as the user are converting, then what happen ???
-
A cryptocurrency exchange, or a digital currency exchange (DCE), is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. Examples are binance, kucoin, etc..
-
Thanks for this information and I am also exchanging my bitcoin and other coins into other currency and I like to exchange bitcoin because it is having low gees the main problem is that many coins are having high withdraw fees.
Bitcoin is not for small trader of course and Bitcoin is not a shitcoin that you need to withdraw it from one exchange to another exchange to do arbitrage trading . But most of the time People withdraw it for long term holding . Especially , if you are a holder and want hold bitcoin years , the fee of withdraw of bitcoin of any exchange does not matter at all . This is the point .
-
Thank you for sharing informative knowledge I hope like me many users don't know much about exchanges, please share more informative posts which are beneficial for all user..
-
You provide a large number of info which is very much clear what is crypto currency exchange. Thanks for your good writing.
-
Cryptocurrencies let you buy goods and services, or you can trade them for profit. Here's more about what cryptocurrency is, how to buy it and how to protect yourself.