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How can you trade cryptocurrencies?
You can trade on special websites called cryptocurrency exchanges. There are literally hundreds of such exchanges on the Internet. We have collected the best cryptocurrency exchanges for your convenience and security.
A cryptocurrency exchange, or even a digital currency exchange (DCE), is a business which allows customers to trade cryptocurrencies or digital currencies for other assets, such as for example conventional fiat money (like US Dollars, Euros and so on) and other digital currencies. Exchanges accepts credit and debit card payments, wire transfers or other kinds of payment in trade for digital currencies or cryptocurrencies. A cryptocurrency exchange could be a market maker that typically takes the bid–ask spreads as a transaction commission for is service or, as a corresponding platform, simply charges fees.
What is cryptocurrency?
A few words if you don’t know yet. Cryptocurrency can be simply described as virtual currency. Which means the cryptocurrency doesn’t have physical form and is merely a digital record based on a specially developed algorithm. Virtual currency is now established as a means of payment that can be utilized to cover any goods and services where such means of payment is acceptable. Due to the growing popularity of this kind of solution and the worth of the cryptocurrency itself, virtual money can be purchased as part of the investment.
The crypto prefix in the case of cryptocurrencies is derived from cryptography, which is the digital method to encrypt money. The encrypted strings of data create the units of the cryptocurrency, giving it a particular value. The driving force behind the creation of the digital currency was the desire to offer an alternative method of creating online payments. The first currency to look in the marketplace was Bitcoin. The cryptocurrency entered circulation in January 2009. The creator of Bitcoin is Satoshi Nakamoto. It’s not sure, however, whether this really is anyone, or rather a small grouping of economists and programmers.