Cryptocurrency exchanges

Good morning 🌄

Greetings to all of you!
Topics that I have chosen for discussion today is all about cryptocurrency exchanges so I would like to discuss definition of cryptocurrency exchange, types of cryptocurrency exchange as well as I would like to share some of the advantages that we obtain from cryptocurrency exchange so I don't want to be late anymore in my explanation!

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What are cryptocurrency exchanges?

Cryptocurrency exchanges are those type of platforms where you could trade your cryptocurrencies which include buying and selling of them. This is a great way of giving a facilitation to buyers and sellers in trading of their assets. One thing which is very unique about cryptocurrency exchange is that they allow users to convert flat currency like US dollars or other into any type of cryptocurrency while having a trade.

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If you want to do trading at any cryptocurrency exchange than it is mandatory that you should create your account by creation and verification of your personal account which are the first methods. After creation and verification of your account you can keep your assets in your wallet and then you could think that now you are ready for trading.

Types of cryptocurrency exchanges

There different type of cryptocurrency exchanges.

1) Exchanges operate as centralized platform

-	Exchanges that operate as centralized platforms utilize centralized authority for processing any kind of transaction.This type of cryptocurrency exchange use an interface which is user friendly like it gives facilitation in providing additional services also like custodial wallets etc

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2) Exchanges operate as decentralized platform

-	Exchanges in which there is no need of Central authority for processing transactions are called decentralized exchanges. Small contracts are used among users for direct trading with each other for making sure more transparent transactions.

Advantages of using cryptocurrency exchanges

There are a list of advantages of using cryptocurrency exchanges but let me discuss some of the most important advantages and benefits that we get by using cryptocurrency exchange.

• Security is one of the most important advantage and benefit that we can get from cryptocurrency exchanges. Two factors authentication, encryption are some of the important security measures that are utilized for making any transaction. It doesn't mean that cryptocurrency exchanges are free of risks there are still many of the security risks at cryptocurrency exchange is also so there is a need to address everything in proper and careful manner.

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• Liquidity is another one of most important thing which is beneficial about cryptocurrency exchange is and there are no too much fluctuations we see while trading due to high level of liquidity at cryptocurrency exchange. It permits for more faster and secure transactions.

Have a nice day 😊