DEX, CEX, POPULAR EXCHANGES, And TRADING CRYPTOS - Steemit Crypto Academy S5 - Homework Post for Task

anyiglobal (63)Beginner[2,3,4,5]in SteemitCryptoAcademy • 3 years ago (edited)

Hello CryptoAcademy Family,

Good day everyone! How are you doing? Hope you're fine?, Alright!!

Before I proceed with the task, I will like to list all questions to this task below:

1-) Choose any of the following exchanges and develop a basic guide on how to use it, indicating whether it is decentralised or centralised.

Huobi
KuCoin
Waves Dex

2-) Can cryptocurrencies and exchanges be regulated? How do regulations affect the crypto world? Name some countries with regulations.

3-) Explain in your own words what an Exchange is. Differences between a Wallet and an Exchange. Mention the advantages and disadvantages of DEX and CEX. Have you used an Exchange before? tell us about your experience.

I will answer question 1 of the above questions!!

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1. BASIC GUIDE ON HOW TO USE KUCOIN

KuCoin is a Cryptocurrency Exchange which is used to buy, sell and store cryptocurrencies like btc, eth, ftm, doge, bnb, e.t.c., and also to convert fiat currencies to digital currencies. KuCoin is a secured Cryptocurrency Exchange!

KuCoin is a centralized Cryptocurrency Exchange! Which means it is controlled by a third party or intermediary!!

How to Sign up on KuCoin

Step 1: Open KuCoin and sign up on the digital platform as shown below... 👇

First of all click on the human icon at the top right corner of the screen and another page will open...

When the next page opens, click on login, and from there you will have access to Sign up button!

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How to Buy and Sell Cryptocurrencies on KuCoin

Step 2: If you want to buy any coin on KuCoin, follow these steps below and you will be successful.

First, click on "trade" at middle of the bottom tabs of the screen! Then choose a coin you want to buy with it's pair. In my case I chose SHIB/USDT pair! as shown below...👇

After Choosing the coin you want to buy, select whether you want to buy at "Market Order" or "Limit Order" and enter the amount you want to buy and Click on " Buy SHIB". I chose "Market Order" as shown below... 👇

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Step 3: If you want to sell any coin on KuCoin, follow these steps below and you will be successful.

First, click on "trade" at middle of the bottom tabs of the screen! Then choose a coin you want to sell with it's pair. In my case I chose SHIB/USDT pair! as shown below...👇

After Choosing the coin you want to buy, select whether you want to buy at "Market Order" or "Limit Order" and enter the amount you want to sell and click on "Sell SHIB". I chose "Market Order"!

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CONCLUSION

Using KuCoin to buy and sell your cryptocurrencies is very secured and reliable. KuCoin is a Centralized exchange which means that they have control over your coins in your wallet! Your coins are their custody and they're responsible for securing your coins for you, that's why it's more secured than decentralised exchanges!!

Thanks so much I appreciate!!

Cc: @imagen

#academys5-intro07 #cryptoacademy #steemexclusive #exchange