Today, cryptocurrencies have gained the trust of millions of investors of all sizes and from all over the world. This is because the crypto currency market offers something that traditional currencies cannot: complete autonomy and freedom to make decisions about your assets.
At the same time, since it is quite a young asset, it is quite normal that there are still doubts about how to invest and buy cryptocurrencies correctly. Therefore, in this article we will explain everything you need to know to get started in this market and exchange cryptocurrency instantly with Quickex as a professional trader.
What is cryptocurrency?
A cryptocurrency is a digital asset that uses cryptographic encryption to guarantee ownership and ensure the integrity of transactions, as well as to control the creation of additional units, that is, so that no one can make copies, as we do in the case of a photo, for example. Such coins do not exist in physical form: they are stored in a digital wallet.
Benefits of Investing in Cryptocurrency
Cryptocurrencies are gaining ground in the global economy for a number of reasons. These include, on the one hand, the loss of confidence in traditional currencies and, on the other hand, the various benefits offered by these digital currencies, which include:
Speed
Due to the fact that cryptocurrencies are not centralized or regulated under the control of any government, they provide instant transfers between users around the world, making them a simple, fast and secure means of international transactions.
Minimal Taxation
The data system into which crypto currency transactions are recorded is called Blockchain, it is completely confidential, so the government has no way of knowing who buys or sells cryptocurrencies. This means that those who have them do not need to declare them, which can lead to taxes, is the capital gains arising from the sale of cryptocurrency.
Security
All cryptocurrency transactions performed are securely protected by an encryption system that guarantees their privacy and security. When making a crypto currency transaction, two-step authentication may be requested, which requires not only a password but also a security key sent to the crypto-asset holder.
Decentralization
Cryptocurrencies, such as Bitcoin, are not under the control of a central bank or a specific country that can determine their value or the number of circulating assets. Rather, these virtual currencies are only subject to fluctuations caused by supply and demand, so they are closely tied to the level of confidence they inspire among investors.
Where to Buy Crypto Tokens?
Thanks to the accelerated and, for some, disproportionate growth of the cryptocurrency market, the main and most recurring question investors ask is: Where is it safe to buy cryptocurrencies?
The most common way to buy Bitcoin, Ethereum, Dogecoin, Tether or any other digital currency is through exchanges.
Choosing an exchange is a very delicate issue for crypto buyers and sellers, as some of them are technically unsafe. The security level of many of them is low, making them an easy target for hackers, and as a result, you can lose your coins without the possibility to recover them, as such exchanges have no guaranteed funds to support your investment.
Types of Exchanges
There are a large number of exchange platforms in the world, which are developing hand in hand with the growth of cryptocurrencies. Among them, we can distinguish two types or modes of exchange, depending on the degree of mediation or involvement of third parties in the transaction and the services they offer.
Based on this, we can talk about centralized exchange (CEX) and decentralized exchange (DEX). Although both types perform the same function, they have different characteristics in terms of how they do it.
Centralized Exchanges (CEX)
Operates similarly to exchanges. They are usually companies that act as intermediaries and are responsible for exchanging and storing their clients’ funds, including their own funds. They also have a structure consisting of a platform and even physical offices in different cities. The disadvantage of this type of exchange is that your money is locked up on this platform, away from your eyes in a joint company account.
Decentralized Exchange (DEX)
Compared to the previous type of exchange, in this type of exchange transactional transactions are carried out directly between the parties interested in the exchange. In other words, without the mediation of the company or its money. In fact, we can define them as websites or platforms where crypto coin holders who are interested in buying or selling cryptocurrencies post their offers and contact them directly. These platforms use the exchanger only as a guarantor of payment before funds are unlocked.
Cryptocurrency Brokers
Cryptocurrency brokers are spaces that allow users to quickly exchange their cryptocurrencies for others of their choice. They are more focused on offering an exchange that allows the user access to a specific crypto currency. Because of this, they are built very simply to make them easy to use for most novice users.
What is a Good Cryptocurrency Exchange for Beginners
When searching for and choosing a cryptocurrency exchange, you should consider a number of factors, such as the number of assets supported, commission fees, payment methods, security, user-friendly, and more.
Quickex
Quickex is one of the leading platforms for instant exchange transactions, with a fixed rate and unlimited number of exchange transactions. The platform was launched in 2018, and since then it has been steadily evolving, providing its users with one of the best ways to exchange crypto assets with guarantees and incredible comfort.
Quickex’s offering is impressive: 57 cryptocurrencies, including all the most popular coins such as BTC, ETH, USDT, BNB. Which makes the platform one of the best exchange options among users. Complementing all this is the user-friendly and intuitive interface of the site, which even a newcomer to this market can figure out.
Thanks to its guaranteed security, clarity, speed and instantly responsive support service, the platform has already gained trust among a huge number of users.
How to Exchange Cryptocurrency
To start an exchange, go to the Quickex website.
- Select the pair you want to make the exchange with.
- Specify your wallet address, and read the terms of use and privacy policy.
- Transfer funds to the specified wallet address.
- Confirm the transfer. Finished!
Conclusion
Choosing the right investment partner is the ideal step to start trading cryptocurrencies in the best possible way, in complete safety and on favorable market conditions, will help make money and get a good experience from participating in this market. As mentioned above, we recommend Quickex for safe and reliable exchanges.
Interesting Related Article: “What You Need to Know About Centralized Cryptocurrency Exchanges“