To get started, you need a cryptocurrency exchange platform where you can purchase and trade digital assets and currencies.
What is a Cryptocurrency Exchange?
A cryptocurrency exchange is a platform that allows individuals/ companies to trade digital assets for other assets.
Users of a cryptocurrency exchange can transact in exchange for assets and currencies such as conventional fiat money or other digital currencies.
Peer-to-Peer crypto exchanges allow you to buy or sell directly with another individual without identifying your identity.
Be aware of scammers posing as crypto exchanges offering to trade, keep updating your cryptocurrency knowledge base, and perform due diligence before trading to avoid losing your financial assets.
Anthony Wanjohi
Writer, Web & Software Developer
Top cryptocurrency exchanges in 2022 include:
- Coinbase
- Cash App
- BitMart
- Crypto.com
- Binance
Qualities of a Good Cryptocurrency exchange include:
- Easy to get started- a platform with good UX/ UI design accompanied by support and an online knowledgebase/ documentation of system processes allows new users to start trading.
- Wide selection of digital assets and currencies to trade- a platform with a wide variety is more suitable for buyers and sellers.
- Low commissions and transaction fees- a platform with low commissions and fees allows users to trade more frequently at a low cost of trading.
