What is an Exchange?

Exchanges are basically the current crypto exchange houses, they are extremely convenient pages where you can buy different tokens, ask for loans, stake or even acquire NFT.

Not only can you even exchange cryptocurrencies for others, Exchanges have become a way of life and a place to make money, one way to do it is to create an “order” that can be bullish or bearish and “bet” on the fact that the prediction, if correct, benefits can be obtained. Another way to earn money is through stakin and savings.

Using a website like coinmarketcap you can see today’s top exchanges sorted by their daily trading volume. Binance is the largest and most well-known Exchange, followed by FTX, Coinbase, and Kraken.

Some people want to keep their money out of the traditional financial system. This includes wanting to prevent the tax authorities of each country from tracking the origin of the money or requiring proof of income from the crypto buyer, decentralized exchanges do not “suffer” from this small setback, since the exchanges here are made thanks to a pool of liquidity that they provide to other users.

Learn about the advantages of the Exchange with examples from Binance

Let’s start with Binance with a commission of $0.10 for making trades in the futures market. In addition, they have a 5% commission if you buy crypto through a credit card and a 0.1% spread on some operations.

In addition to that, Binance has P2P, which is a market where you can communicate with other people and make transactions with fiduciary money from dozens of countries, it can be pesos, euros, dollars, pounds. This market, in theory, is decentralized, the authorities are not attentive to the transactions between two parties and Binance simply offers the platform with chat and reputation, completely free.