What Is A Cryptocurrency Exchange?

Cryptocurrencies may be purely digital and have different dynamics of transactions and storage when compared to fiat. But there are trading principles that are in common between traditional and digital money. For one, they are traded by investors and buyers against each other.

Once, for fiat, there were traditional marketplaces, where people would physically go, cash in hand- and trade for a different type of currencies. As the technology has progressed, the marketplaces have digitized. Modern-day Forex is running on computers, with bidding and selling being done right from the screen.

Crypto Exchange

Cryptocurrencies, being digital in nature, cannot have traditional brick and mortar exchange places. These cryptocurrencies have their own digital exchanges, called crypto exchanges. These digital marketplaces are strictly online, exchanging cryptos online.

Many crypto exchanges maintain fiat-banking accounts in different countries, as people usually buy or sell cryptocurrencies in fiat and the bank accounts facilitate them. As such, crypto exchanges can accept payments from wired accounts, credit cards.

The complexity of trade varies from exchange to exchange. Some exchanges offer very simple and basic exchange for a few selected cryptocurrencies, or full-fledged exchanges with multiple, automated buying and selling options with hundreds of trading pairs. Exchange is an upcoming digital exchange that has eyes on being the world leader in crypto trading. Most digital exchanges that deal in decentralized digital currencies are, ironically, centralized in nature. bases itself on the Blockchain technology, making it as decentralized, secure and fast as cryptocurrencies.

The platform, in its initial phase, offers trading of cryptocurrencies. But, future plans include trading of physical assets such as gold, diamond and other precious metals. The team behind the platform has a vast experience in trading. The advisors are successfully running a brokerage firm, FXPRIMUS, that is nearly a decade old forex brokerage firm and a CFD trading platform with more than $180 billion worth of trade done on its platform every year.

Based on Blockchain, the platform offers much more to its users than traditional exchanges. Decentralization makes it secure, the transactions done are extremely fast, lower commissions and increased transparency means users can make more profits from trading on the platform when compared with others.

The platform also offers a liquidity pool, where users can invest money and make a passive profit on a daily basis.

The platform has recently concluded its ICO successfully and its internal token, the TIO is listed on major exchanges like HitBTC, Bancor, and IDEX.

Angela Scott-Briggs

Editor, | Interested in Innovations in Business, Finance, and Technology .

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Angela Scott-Briggs

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