Welp MagazineBy cryptocurrency, we mean the main unit of account – bitcoin and alternative coins – altcoins. You can buy and exchange cryptocurrency for rubles, dollars, euros, hryvnia and any other official currencies.
The advantage of cryptocurrencies is in their decentralization, anonymity, security and a steadily increasing rate. The variability (volatility) of the exchange rate is a unique opportunity to make money on trading and investing in crypto money.
For the purchase, exchange, sale of cryptocurrency, 3 options are used:
- Special exchanges (Poloniex, BitFinex, Bitstamp, Bittrex, Exmo, YoBit);
- High-speed online exchangers (points and services of currency exchange on the Internet);
- Negotiated exchanges (usually in specialized forums through private intermediaries).
An important role in the purchase, sale and exchange of cryptocurrencies is played by the speed of transactions. If the exchange of coins through special online services takes 10-30 minutes, then the sale of bitcoins / altcoins on exchanges can take 1-3 days or longer.
If you don’t want to wait, use high-speed exchangers, but pay the mandatory fees. On the other hand, the advantage of exchanges is that you can play with the rates, get better exchange rates by sacrificing waiting time.
Before exchanging coins, it will be useful to visit several services at once and compare their rates / commissions. It is for this reason that in the second part of the article we examined not one, but four exchangers, thereby providing you with a choice.
In most services, when buying, selling, exchanging cryptocurrencies, limits and restrictions on the maximum and minimum amount are set. These are the limits within which the system is able to process applications in the shortest possible time.
Cryptocurrency exchanges
A cryptocurrency exchange is a web site within which some cryptocurrencies are traded in relation to other or world national currencies (UDS, RUR, EUR, CNY). On the exchange, you can buy, sell, exchange crypto coins and even profit from this by playing on the volatility of rates.
All cryptocurrency exchanges can be divided into 2 groups:
- exchanges where Bitcoin and its forks are traded in relation to the world’s fiat money
- exchanges where Bitcoin and its forks are traded in relation to each other, to other cryptocurrencies
Fork is a derivative of the cryptocurrency from the base – BTC, in fact, the same altcoin (offshoot). Among the popular world exchanges are:
- LiveCoin
- YoBit
- Bitfinex
- HitBTC and others.
When choosing between different exchanges, preference is given to the one with more volumes and trading activity. You can also focus on your own experience and preferences, user-friendliness of the interface, ease of use.
Exchange services
In the list of reliable exchangers that work honestly and around the clock, participate in independent ratings and have thousands of positive reviews, it should be noted:
- changelly;
- alfacashier;
- 24paybank;
- Shapeshift.
Exchangers work according to the general principle – you give one currency and receive another, so you can make Bitcoin to Energi exchange.
Specialized forums
In fact, this is an exchange, purchase, sale of cryptocurrency on a contractual basis. Within the framework of specialized forums, their members or administrators often offer the redemption / sale of coins at their own private rates.
The exchange is carried out through an intermediary. You give the user one currency, and he transfers another to you.
Everything rests on mutual trust and honesty of members of the forum or administrators, but this method of exchange has obvious risks. Do not trust random users who have only recently entered the forum and do not have an obvious positive reputation.
