Steemkids Crypto academy Assignment S2W2 / Exchanges || 2-12-21

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I'm still grateful for @benton3 for creating this awareness. I also want to render my special thanks to @steemkidss for this community ❤️.
I'm here to write my assignment on Exchange. Follow and remain blessed.

Define and explain an Exchange

The word Exchange is widely used in marketing and business. It involves giving and taking in marketing system. It also involves buyers and sellers. It is primarily defined in economics. Exchange takes place in different forms and ways which most of the exchange arrive at business and marketing system.

Exchange is a business or market arena where financial instruments like cheques, shares, futures, stocks and bonds,commodities goods and services are traded. It is also a platform which enables governments, company holders and other users to give or sell virtual properties and securities in exchange for money and other digital currencies.

Exchange as I said occurs in different forms. We have exchange of gases, exchange in commerce and the rest. Exchange provides access to capital and profit. We have different terms in exchange one of which is Exchange market where prices of currencies are calculated based on increasing number of demand and supply and also Exchange rates which is the determination of one's currency in relation to another.

There are lots to be done in an exchange. Transactions are carried out in an exchange. Trading and marketing of currencies are also carried out. Out of these activities, two stands out from these which are buying and selling of cryptocurrencies.

Cryptocurrency is a type of currency in which goods and services are exchanged online. Buying cryptocurrencies involves the buyer buying via an exchange. He States or explicitize the price he wishes to buy and then order. A person can purchase new cryptos using a debit card or even a credit card buying. Cryptocurrencies requires a wallet to hold your currency and you will need an exchange account to purchase it.

Sellers sell cryptocurrencies by setting the price they want to sell their assets and then placing it for buyers. Once the prices reached, its asset is sold unlike in buying where assets are required. The seller in this case sells his crypto assets through peer-to-peer network and he's the one to choose which buyer he trades with. after confirmation that the buyer has deposited money into the seller's account then can the buyer receive coins from the seller.