What is cryptoccurency exchange

A cryptocurrency exchange is a place where you can both trade cryptocurrency for another, and sell them on an open-ended base to create earnings. Among the most famous cryptocurrency exchanges that simultaneously support fiat money transfers are Mt.Gox, BTC-E, OKCoin, Huobi, BTC China, Cryptsy, BitStamp, and Vircurex. At the same time, in addition to Bitcoin, other currencies almost did not spread. Litecoin and Namecoin are more or less known, and the rest are most often used for some speculation and earnings on exchange rate differences, and apart from these purposes they are almost never used.

Cryptocurrency exchanges

Cryptocurrency exchanges are not officially recognized as full-fledged exchanges, and have not received licenses. In fact, they function as large online settings where you may buy or sell cryptocurrency, making money on the exchange rate difference between pairs. At the same time, the most famous services are already acquiring features characteristic of exchanges – for example, they allow conducting margin transactions. Users point to several points:

• the technical support of such “exchanges” does not fully protect the participants from fraud,
• in addition to the technical side, the situation with the legal support of transactions is rather complicated,
• some of the services are projects with a short lifespan, from which it is important to have time to withdraw funds on time – before they are closed.

How to sell on the cryptocurrency exchange

To make btc to xmr exchange on the cryptocurrency exchange, analyze the contemporary and earlier movements of different cryptocurrencies and fiat currencies, and carry supplies into the plan that satisfies you. The services provide fairly complete information and an excellent set of tools – they perform charting, keep records of completed transactions, their volume, and provide detailed trading data. When trading, consider:

• volume of cryptocurrency in circulation;
• the dynamics of changes in this volume to the limits of the total volume of emission (for bitcoin – 21 million units, for litecoin – 84 million units);
• the volume of transactions made on a specific exchange and “neighboring” ones (often indicated not only in bitcoins, but also in USD).

Major international exchanges

Among international trading platforms, clients are in demand not only for Bitstam and BTC China. For example, the American Cryptsy allows you to trade more than a hundred cryptocurrencies of various types. Here the interest on the account balance is calculated in the currency of the BTC.

Kraken and the Bitcoin exchange of the same name were launched in San Francisco more than five years ago. The exchange has a high level of security.

Another American international cryptocurrency exchange, Poloniex, was launched just a year ago, but it may be of interest to traders in view of the low interest rates and the availability of p2p loans.

Important rules for a cryptocurrency exchange

Any trade must be conducted confidently and calmly. Greed on the cryptocurrency exchange will become your enemy. Sometimes it is simply not worth expecting that an already grown currency will gain in value again. Especially when forecasts indicate that prices will start to fall. It is important for a trader to have time to sell bitcoins before they fall.

You must be patient enough to wait for signals to sell or buy currencies. Impulsiveness in such a risky trading in essence will play a cruel joke with the trader.

The list of quotes must be constantly monitored – for the exchange it is the main source of information.

The mood of the players on the exchange largely depends on the capitalization and volume for the cryptocurrency markets. Using this data, you can predict how the quotes will behave.

Support Ukraine against russian fascists! Defend Europe from horde! Glory to Ukraine! 🇺🇦

George Brown

George Brown is a main editor in Bitgraph Network Team.