The principle of operation of a modern crypto exchange

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The principle of operation of a modern crypto exchange

Despite the fact that today more than three hundred cryptocurrency exchanges are actively working and functioning all over the world, which do not have fundamental differences, each individual of them puts forward its own conditions and rules.

After registering on a crypto-exchange, users immediately have the opportunity to exchange currencies. The main thing to remember is that conversion is possible ONLY if you have the required currency pair! This applies to both digital and fiat money (euros, dollars, gold, etc.). If you are fond of mining, then you cannot do without an exchange, because exchangers often offer extremely unfavorable exchange conditions (too high commissions).

In general, the principle of operation of a cryptocurrency exchange is very similar to standard exchanges - we buy as cheaply as possible, and sell - with the maximum benefit for a personal account.

A suitable bitcoin exchange is mainly chosen according to the following parameters:

percentage of commissions;
the volume of trading operations performed per day;
level of security and protection;
the size of the withdrawal limit;
number of currency pairs.

How to register on the exchange?
In order to fully use the capabilities of the cryptocurrency exchange, the user must complete the registration procedure (in other words, create a personal account). This procedure is standard, so it will not cause any difficulties for a more or less experienced Internet user. What is the procedure?

Choose one of the most popular exchanges at the moment and visit its official website. On the main page of the site, look for buttons with such inscriptions: "Register", "Create an account", "Register" or "Sign up".

Click on this button and fill in information about yourself (basically, this is your full name, country and city of residence, date of birth, login, password, email address and phone number).

Some exchanges will ask you to go through verification. This is a procedure that deprives the user of anonymity, but opens up an unlimited set of tools, and sometimes even lower commissions.

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