A cryptocurrency exchange is a platform where one digital currency is traded and exchanged for another or for different world currencies, including dollars, euros, rubles and yuan. In addition to mining, the original way to create cryptocurrencies, exchanges are considered one of the ways to get them.
Cryptocurrency exchanges is a kind of analogue of trading ones, such as, for example, Forex. Each participant, investing real money, has the right to perform operations related to the analysis of rates, receive signals, engage in the sale and exchange of bitcoins and other popular types of currencies for real money.
Analyzing the activity of a cryptocurrency exchange, two areas can be distinguished - trading and exchange. For example, you want to get crypto money at a favorable rate, and exchanges are just perfect for this. There are users who even store their “hard money” on such resources, using them as a kind of wallet. However, seasoned experts do not advise doing this, since exchanges, although rarely, go to scam. The most important function of the exchange is the sale of currency pairs, which brings enormous income to traders.