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What is Cryptocurrency exchange?

ishwar profile image ishwar chandra tiwari ・1 min read

Cryptocurrency exchange allows users to buy/sell cryptocurrency.
A cryptocurrency exchange or a digital currency exchange (DCE) is a business that allows customers to trade cryptocurrencies,
Businesses that allow customers to trade digital currencies for other assets, such as conventional fiat money, or different digital currencies. They can be market makers that typically take the bid/ask spreads as transaction commissions for their services or simply charge fees as a matching platform.

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How does a Cryptocurrency Exchange Start?

For an exchange to function, there needs to be both bids and asks simultaneously. If there is no asks, then no one can buy that specific cryptocurrency therefore there is no volume/trades.

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ishwar chandra tiwari

@ishwar

I am a Software Engineer having expertise in various domains of Information Technology & Services.

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Quite interesting post! I recently get several digital coins and I want to exchange them now. I found special online exchange site in internet according to people reviews, it is godex.io service. Did you hear something about it? I'm also interested in your opinion!