How I see Crypto Exchanges!!!!
Asshalamu alaykum, I'm @toufiq777
Every crypto user must have visited crypto exchange once in their lifetime. It is a very popular platform to buy and sell crypto easily with lower hassle and fees. Today I want to talk about crypto exchange and how I got myself a crypto account.
Crypto exchanges are also known as digital currency exchange. Exchange is a platform where digital currencies can be traded in terms of funds. Funds can be both digital currency and fiat. All exchanges allow users to top up fund using their credit card/bank transfers/any other forms of payment medium. Exchanges have their own policy or regulations to generate profit to run the business-like charging fees.
It works as like stock market. But here the stocks are digital currency ex- Btc, Eth, Ltc, USDT etc. The marketplace is also digital. People can connect with crypto exchange from their mobile, Laptop or desktop computers.
To my learnings there are three types of cryptocurrency exchanges. They are centralized, Decentralized and hybrid. Not only this there are also few other methods to trade I mean buy or sell crypto like various trading applications and peer to peer platforms.
In crypto wallet people cans store their assets securely. They can be a hardware or a software. Wallets are mainly used for holding capital for longer or mid-term. On the other hand, exchange is trade place where people can instantly buy or sell currencies if they have fund in their accounts.
Very beginning of my journey, I used to post on steemit. To increase my steem power once I realized I need to have more steems. So how can I get steem? Then I searched on YouTube to how to buy steem from any place. Then I got idea of exchange and opened my first account at bittrex. This was my story. Please comment your experience about crypto exchange.
Wishing well to all.
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@toufiq777
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