Buying in Cryptocurrency Exchanges

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Buying in Cryptocurrency Exchanges
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Index

• Buying In Cryptocurrency
• What is a Cryptocurrency Exchange?
• Types of Exchanges
• Cryptocurrency Exchanges

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Buying In Cryptocurrency

• When you buy or sell the cryptocurrencies, you
  purchase the asset itself.
• As with any investment, you need to buy and sell
  via an exchange, which requires you to create an
  exchange account and store the cryptocurrency in
  your wallet.
• You also need to put up the full value of the
  asset to open a position.

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What is a Cryptocurrency Exchange?

• Cryptocurrency exchanges are the website where
  you can buy, sell or exchange cryptocurrencies
  for other digital currency like Euro and US
  dollars.
• For those that what to trade professionally and
  have access to fancy trading tools, you need to
  use an exchange that requires you to verify ID
  and open an account.
• If you want to make the straightforward trade,
  there are platforms you can use that do not
  require an account.

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Types of Exchanges

• 1. Trading Platforms
• A website that connects buyers and sellers and
  takes a fee for each transaction.
• 2. Direct Trading
• Platform that offers direct person to person
  trading where individuals from the different
  countries can exchange currency
• Direct trading exchanges dont have the fixed
  market price. Instead, each seller sets their
  exchange rate.

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• 3. Brokers
• Websites where anyone can visit to buy
  cryptocurrencies at a price set by the broker.
  Brokers are similar to foreign exchange dealers.

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Cryptocurrency Exchanges

• To buy and sell the cryptocurrencies, you will
  need direct access to an exchange.
• If you are unfamiliar with how they work, this
  brings its own steep learning curve you need to
  get to grips with the technology involved, as
  well as learn how to make sense of the data.

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• You will also need your own account to trade
  on an exchange. These exchange accounts can be
• 1. Slow to Acquire getting an account takes a
  few days, as you will join a queue of people
  waiting for manual approval.
• 2. Restrictive to Use As a new account-holder,
  you will likely be limited to a deposit of a few
  hundred pounds a week.

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• 3. Expensive to Maintain funding and withdrawals
  generally incur fees, while some large exchanges
  also only accept bank transfers which can take
  days to go through.

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Thank You