Cryptocurrency exchanges for beginners; 3 Popular exchanges to start with

hyabusa626 (25)in #exchange • 7 years ago

Cryptocurrencies like real-world assets are digital assets created to be used as a form of exchange of value using cryptography technology to make transactions secure, trustless and transparent (except for a few privacy currencies). The question “why do we need cryptocurrencies”? as simple as it may sound, isn’t easy to explain. Let’s take real-world paper money for instance. Why do governments print money? An oversimplified answer is to exchange value and maintain control of the population through banks. Cryptocurrencies work in a similar way except there are no governments and central banks controlling the production and distribution of the value of a particular digital asset. I remember when I use to play games and earn reward in “game money”, I always thought, what if I could change this for real money after all the hours and hours spent playing to accumulate all this game wealth. I see cryptocurrencies as that reality where things are tokenized and can be exchanged for real money. Now, this is where the exchanges come in.

Cryptocurrencies exchanges are sites developed by software engineers together with a team of financial and legal experts to help users be able to change the digital asset they hold into real-world money. The most popular exchange is coinbase which provides services for mainly American citizens. There others such as bittrex and binance which cater for a larger audience. These are just a few of the dozens of the exchanges out there. You can research more on google.

Always make sure any exchange you visit is the secured exchange with “secure https://” or risk you assets being stolen. Please see photos below.

Official Links:
https://www.coinbase.com/
https://bittrex.com/
https://www.binance.com/?ref=11905189