Crypto trading platforms allows customers to trade cryptocurrencies for other assets, such as fiat money or other digital currencies.
Types of Exchanges:
- Centralized Exchange
The most common type of exchange is centralized. Private companies offer platforms to trade cryptocurrency and requires KYC. Centralized Exchange platforms have active trading, high volumes and liquidity. It is easier for new users. However, it has risk of system shut down and users data release.
- Decentralized Exchange
A decentralized exchange has no central point of control. It is a server instead, each computer within the server is spead out across the world, if one computer turns off, it has no effect because there are plenty of other computers that will continue running the network.
Due to its decentralization, no one is runing the sysyem, which means those trading do not have to declare identification and are free to use in any manner.
Cocking, S. (2018, September 17). What Are Crypto Trading Platforms? Things You Should Know About Crypto Trading Tools. Irish Tech News.