Where is it Better to Exchange Coins: On the Stock Exchange or In the Exchanger?
The vast majority of all operations with the cryptocurrency is carried out on exchanges with multi-million turnover. And what are the exchangers offering promising conditions for buying / selling the cryptocurrency? How do they differ from exchanges? We will consider it in this material. Content: (please, click the topic to scroll down to it)
- What is the exchanger?
- How does the online exchange of cryptocurrency work?
- Principal differences between the stock exchange and the exchanger
- Where is it better to buy/sell cryptocurrency
- Advantages of online exchangers
- What should a safe exchanger look like?
1. What is the exchanger?The name gives the answer - it is the place where you can exchange the cryptocurrency for fiat or for other coins. There are two types of exchangers:
- Online. This is a site where a visitor can make a purchase / sale of a cryptocurrency at a fixed rate.
- Offline. Here, the currency can be exchanged for real money, having received a cache in the specified place - at the checkout or office.
2. How does the online exchange of cryptocurrency work?The main condition for someone who wants to buy a coin is the presence of a cryptowallet. If any, the procedure is simple:
- Simple and not always compulsory registration;
- In the menu, find the currency you want to buy or sell;
- Fill in the fields with the requisites;
- Agree with the exchange rules and click "Exchange".
- Manual mode assumes that each operation is processed by an operator. It's always long.
- In semi-automatic mode, Bitcoin exchange can last half an hour or more, depending on the exchanger.
- In the automatic mode, currency cranes operate with immediate withdrawal of funds.
3. Principal differences between the stock exchange and the exchangerAt the exchange there are traders who determine the price of coins. In the exchanger, trading is inappropriate, because the course is determined by the owner of the resource. Is it good or bad? On the one hand, there is no place for exchange speculation on the exchanger. On the other hand, there is always a real coin price on the stock exchange, which rarely coincides with the exchanger’s rate.
4. Where is it better to buy/sell cryptocurrencyIf it is a matter of profit, then on the exchange with its market rate. The owner of the exchanger, of course, is guided by stock quotes, but his rate is always higher. By the way, the commission in the online cryptocurrency exchanger can differ from the stock exchange in the tens, and even hundreds of times. In terms of convenience, the exchange also looks preferable, as it works around the clock without days off, which cannot be said about many exchangers. An important point is the amount of currency reserves. If there are no problems for an exchange with a multimillion-dollar daily turnover to make almost any transaction , then a poor exchanger can sometimes offer to wait an hour or two before the required amount of bitcoins or fiat appears. The security of the exchangers also raises doubts. If the top-level exchange is guaranteed to be protected against cyber attacks, then how this issue is decided by the owner of the exchanger is known only to him.
5. Advantages of online exchangersAll of the information mentioned above does not exclude the essential advantages of the cryptocurrency exchangers:
- User-friendly interface. Registration procedure is extremely simplified, and often completely absent.
- Any exchanger is fully integrated with all popular payment systems.
- For registered customers, there is a program that provides an incremental discount for each subsequent exchange.