While the cryptocurrency market keeps growing rapidly and remains high-profile, more and more people interested in it encounter difficulties trying to get started. Where to get bitcoins? What are crypto exchanges created for? What kind of service do they provide? Whether you are a new-to-crypto user or an experienced one, this article will help you put all the pieces together. Before you jump into the cryptocurrency market, we decided to clarify some information and bring some awareness about current cryptocurrency exchanges, their core features, and the ways revenue is generated.
If you decide to get involved in the crypto market, you’d better get familiar with how it works. However, it is not as complicated as it may seem. A cryptocurrency exchange is a platform, where people can purchase, sell or exchange cryptocurrency for other digital currency or fiat money (national legal tender established by a government), e.g. the US dollar or the euro. A website matches buyers with sellers and helps to meet their interests.
The list of features below will help you get a better understanding of what cryptocurrency exchanges have to offer and on what conditions. Moreover, you can use this information as comparison criteria when selecting a cryptocurrency exchange in the future.
It is one of the most crucial features for customers. It is also why crypto is so popular because the decentralized nature of it makes it quite difficult to hack or break the system.
It comes as no surprise that intuitive interfaces are in constant demand. Particularly for those who are new to the market and can face difficulties trying to figure it all out. Keeping it plain and simple is a vital feature for cryptocurrency exchanges.
There are thousands of cryptocurrencies in existence, therefore, exchanges differ in coins supported on their platforms. They tend to offer a variety of them, so you will always find such popular coins as Bitcoin or Ethereum. With reference to newer altcoins, you will probably spend more time shopping around, though it’s important to take the time to consider all your options carefully.
Payment options might be different as well. For instance, some may offer bank wire transfers or cryptocurrency only, others will accept Visa or Mastercard.
We assume this feature does not require an explanation as it is an essential part of any customer-oriented business. If you encounter any difficulties while using cryptocurrency exchanges, there will always be someone to help you solve any issues, problems, or questions you may have.
Some exchanges may have a trading fee while others may charge a percentage. Whatever their fees may be, it is where these exchanges make most of their profit.
The volume of sales on the largest cryptocurrency exchanges is growing dramatically. Therefore, the field is becoming more and more appealing to its owners.
Here are the most common ways how crypto exchanges generate income:
With all the ways to make money listed above, it is no surprise that the market has many crypto exchanges to choose from. Though there are still some that rule the roost in both financial terms and volume of trade. For instance, you may have heard of such prominent exchanges as Binance, Gate, Coinmarketcap, Coingecko. But currently there are also fast-growing companies that are emerging, taking their place in the market, and are ready to compete. Among them are Apollox, FreeRiver, CapitalDEX, Stobox Exchange.
For newcomers, who are longing to have long-term investments in digital assets, it is important not only to find an easy-to-use interface and appropriate customer support but a place willing to provide useful information and related services to make it easier to get into the cryptocurrency world. Therefore there are companies like Stobox that are building an entire ecosystem where exchange plays an essential role, providing the possibility to buy and sell different cryptocurrencies, such as USDT, ETH, STBU and more. Moreover, users are encouraged to participate in informative conferences focused on the global adoption of digital assets. If needed, legal and tokenization consulting for businesses will be provided for those who desire to grow in the field.
Nowadays, with the cryptocurrency market constantly growing and developing, it is hard to remain indifferent. At the same time, for those who are motivated to start working with crypto, it is getting much easier with the help of Stobox Exchange and other cryptocurrency exchanges. It is becoming harder to resist the chance of joining the innovative world of digital assets.
The above information aims to enlighten you about some of the pitfalls to avoid and about the service you will be provided by cryptocurrency exchanges. Therefore, their purpose is to help the new-to-crypto users make their first steps in the crypto world. With their help, you can significantly increase your chance of succeeding in this market. And if you do choose it, Idealogic will be here to provide information and tips for you.