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    thomas
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    Cryptocurrencies Exchanges
    As in the case of shares or goods, the vast majority of trading on the crypto-currency market takes place through stock exchanges. However, they do not have a physical trading place – they are virtual and completely decentralised (similar to the Forex market). They provide access to a number of key market information – the value of individual virtual coins, valuations, trends, volumes and so on.

    Exchanges are extremely important for any trader of virtual currencies, regardless of their level of sophistication. They are designed to meet the needs of the unique, dual industry characteristics. They are tailored both to the expectations of traders with experience and knowledge of traditional markets and to the expectations of beginner investors who have never traded on a traditional stock exchange before.

    An alternative are cryptocurrencies brokers, i.e. companies enabling individual and private clients to increase their capital through trading in instruments on the crypto market , e.g. XTB, XM, Admiral Markets, HotForex or Tickmill. The most popular currency among brokers offering cryptocurrencies remains bitcoin.

    Sale and purchase of cryptocurrencies on the stock exchange

    There are two basic ways to buy and sell coins on the cryptocurrencies exchanges. The first one is a direct buyout from the exchange itself – in this case no other investor is involved in the transaction. The whole thing works on a very simple principle – the physical currency is transferred from your bank account and exchanged into virtual currencies according to their current price. Please note, however, that if you purchase digital coins directly from stock exchange owners, the transaction will be subject to additional handling fees.
    The second method is the one in which the exchange only plays the role of an intermediary. It becomes a platform for meeting buyers and sellers and for executing exchange transactions between them. Bids can be placed in the form of an auction or a direct order – we inform how many coins we want to buy/sell and at what price. Many investors prefer this solution because the role of the stock exchange is limited and additional fees are either non-existent or very small.

    How to choose the crypto exchange ?

    The choice of a specific one depends on our expectations. Exchanges differ in their offer of services.
    If you want to trade a wide range of cryptocurrencies (altcoins) you should look for an exchange that allows you to do so. One of such exchanges is undoubtedly Cryptopia, where you can trade on more than 400 cryptovalutes.

    Some difficulty for the users of this exchange may be that the deposit is made in New Zealand dollars (NZD). So if you are not going to trade many different crypto currencies, it is worth to look at the exchanges where the currency of the deposit is $$. We are talking about BitBay or Coinbe for example.
    What else should you pay attention to?
    In addition to the above mentioned, there are a few other things that are worth paying attention to when choosing the stock exchange to trade:
    -Account maintenance fee – every additional fee connected with trading reduces our profit, so it is worth to choose an exchange where the fee is very low or the best, there is no such fee at all.
    -Transaction costs (commissions) – similarly to the above, the lower the transaction costs, the better.
    -Reliability – before depositing funds, we should carefully examine whether the stock exchange on which we want to make transactions is reliable and, consequently, whether our money is safe.
    -Investment platforms – a good stock exchange should provide an equally good trading platform. For those who rather use smartphones more often, the mobile version will probably be important.
    -Deposits – the basic form of depositing a deposit into a stock exchange account is a bank transfer. However, other methods are also available on the stock exchanges. For example, Coinbe via Dotpay, Homepay and Hotpay payment processors.
    -Withdrawals – here also a standard way is to transfer money to a bank account. Using the example of the BitBay exchange again, you can also receive a payment card that allows you to withdraw at an ATM and also allows you to pay for goods and services. An interesting solution in the case of this exchange is also a withdrawal via SMS from an ATM.
    Security
    Security, although mentioned at the end, is one of the most important issues concerning the choice of stock exchange. It is worth noting the reputation of a given brand, the country in which it has its registered office, when it was established and what security measures it implemented.
    Safeguards implemented by the stock exchanges include
    -Two-factor logging – requires an additional factor, thanks to which access to a third party account will be much more difficult.
    -Confirmation of shares on the account – the action is similar to two-factor logging
    -Security of funds – using the example of BitBay: funds in cryptocurrencies are kept on so-called cold wallets. This means that they are not directly connected to the exchange servers. This ensures that they are not accessible to third parties. In addition, the wallets are encrypted.
    -Encryption – all important data from databases to user accounts is encrypted. Additionally, the connection with the exchange can also be encrypted with SSL.
    -Transfer authorization – authorization of incoming and outgoing transfers by exchange employees.

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