What is a Cryptocurrency Exchange?

Cryptocurrency exchanges are online platforms where you can buy and sell cryptocurrencies. They act as intermediary between buyers and sellers. That’s why you have to pay a conversion fee.

There are also decentralized exchanges which operates without a central authority that facilitate the transactions.

You can trade 24 hours a day every day of the year, crypto markets are usually always open. There are two kinds of executable operations: market order and limit order.

With the first one, the fastest, you can buy or sell at the best available price in the market. A limit order is a type of order to purchase or sell a certain amount of a crypto at a fixed price or better.

Click here for a list of top cryptocurrency exchanges (based on traffic, liquidity and trading volumes).

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