A cryptocurrency exchange is an Internet resource designed for online trading like cryptocurrencies. A cryptocurrency exchange is a place where you can instantly exchange one cryptocurrency for another, or exchange fiat money for cryptocurrency and vice versa. Trading on trading platforms is carried out without interruption and weekends, since blockchain technology is at the heart of cryptocurrencies. Volatility is quite high, daily fluctuations (+, -) 15% are in the order of things. Some altcoins can grow in value several times per day. For most traders, cryptocurrency trading becomes the main place of work.
To get a profit, there is no need to be an expert in exchanges or cryptocurrencies: it is very easy and quick to make a fortune on speculation. Many who started with a couple of hundred dollars have already earned their million and not even one!
Watch how the rate of cryptocurrencies changes online, and you will understand that you are one step away from a big profit.
WHICH EXCHANGE IS BETTER TO TRADE
Cryptocurrency exchanges are creating a completely new economic environment. Thanks to them, the user can easily carry out various transactions with electronic money, similar to how it is done with traditional assets. However, it should not be forgotten that digital currency is a decentralized platform. If you deposit funds for an unscrupulous resource, you will not be able to return them. Therefore, you should always be vigilant and choose only reliable services.
The list of cryptocurrency exchanges is replenished with new platforms almost every day. Today there are over 300 digital money trading resources. The conditions that all platforms provide are generally similar. But there are some nuances that are important to pay attention to when choosing an exchange.
When choosing a cryptocurrency exchange for independent trading or through brokers, I advise you to work on several at once, taking into account not only the daily turnover indicators, but also the territorial location. First of all, you need to pay attention to the main categories: working hours on the market, place of registration of the exchange, tariffs and commissions, the security of your assets on the exchange, the number of pairs for trading and, of course, methods of replenishing and withdrawing funds.
Almost all exchanges are similar in their functionality, having figured out one, you can easily orient yourself to others.
EXCHANGE TRADING PRINCIPLES
In fact, cryptocurrency trading comes down, like any other trade for the purpose of making a profit, to elementary speculation. That is, your task is to buy at a lower price and sell at a higher price - the difference between these operations is your profit. But, of course, not everything is so simple, you need to know when to buy and when to sell, otherwise a thoughtless purchase can lead to a deep drawdown. To analyze the market situation and the actual buying / selling process itself, each exchange has its own tools:
Charts - a graphical display of the cryptocurrency rate for a certain time period. Most often, charts are presented in the form of Japanese candlesticks, and this is the most informative form, since it allows the trader to objectively analyze the price dynamics.
Buy and Sell Orders - a list that lists the participants' requests. As soon as the order is triggered and a transaction is made, it disappears from this table. You can analyze the future movement of the rate of a particular coin: if large sell orders are placed, then it is very likely that the price will fall and, conversely, a large buy order indicates an imminent rise in the rate.
The history of transactions - gives an idea of whether traders are showing interest in a particular currency and how actively.
MANDATORY SAFETY RULES WHEN OPERATING ON THE EXCHANGE
When working with the exchange, be sure to enable two-factor authorization !!!
- This can be done via SMS to your phone.
Use a strong password and a secure mailbox when registering.
- I do not recommend using the mail service.
Use special programs to store passwords and generate them.
Everyone who gets into the world of digital currencies sooner or later faces the need to choose an exchange. There are a huge variety of cryptocurrency exchanges, and each has its own pros and cons. So, some exchanges are distinguished by a large selection of currency pairs, others - a user-friendly interface, others - with advanced functionality and a variety of technical and graphical analysis tools, fourth ones add new tokens faster than others immediately after the ICO, fifth offer advanced security settings, etc.
The problem is that each of the existing exchanges claims a complete guarantee of the safety of user investments, but it is clear that not all of them can provide it equally. You need to understand that even the most reliable and serious sites, with the most thought out and debugged system of work, cannot guarantee 100% safety of your money. Below I will present the exchanges that interest me and have a high level of trust.
EXCHANGE OF CRYPTOCURRENCY FOR BEGINNERS
BINANCE - Binance is a Swiss-based decentralized exchange owned by Shanghai-based Beiji Technology and managed by a team of professionals with solid Wall Street experience in cryptocurrency technology. At the head of the company is Changpeng Zhao, who previously led the Blockchain development department and was also the co-founder and CTO of OKCoin.
Binance users also note the reliable level of security of the exchange and highly praise the technical support service, which 24 hours a day guards the smooth operation of the service, promptly eliminates errors and problems that can slow down the operation of the system.
Binance is considered the fastest growing trading platform today. In January 2018, a record number of registrations on the exchange was recorded - 250,000 per hour.
Today, there are more than 6 million registered users on the site, which most clearly confirms the fact of the rapid success and incredible popularity of Binance.
At the beginning of 2018, it was even necessary to close the registration of new accounts for some time, since the service technically could not cope with the huge flow of new customers. Now the situation has stabilized.
BINANCE - Binance is a Swiss-based decentralized exchange owned by Shanghai-based Beiji Technology and managed by a team of professionals with solid Wall Street experience in cryptocurrency technology. At the head of the company is Changpeng Zhao, who previously led the Blockchain development department and was also the co-founder and CTO of OKCoin.
Binance users also note the reliable level of security of the exchange and highly praise the technical support service, which 24 hours a day guards the smooth operation of the service, promptly eliminates errors and problems that can slow down the operation of the system.
Binance is considered the fastest growing trading platform today. In January 2018, a record number of registrations on the exchange was recorded - 250,000 per hour.
Today, there are more than 6 million registered users on the site, which most clearly confirms the fact of the rapid success and incredible popularity of Binance.
At the beginning of 2018, it was even necessary to close the registration of new accounts for some time, since the service technically could not cope with the huge flow of new customers. Now the situation has stabilized.