While we know that Bitcoin is the most famous digital currency, there are more than 1600 cryptocurrencies circulating in the global market, and there’s much more to come yet. I only knew about Bitcoin when I got into the digital crypto world. But later diving completely into the crypto space, you would also realize that there is money exchange of tons of other coins and currencies through hundreds of online currency exchange platforms.
Here are the simple questions:
Before you start crypto investments, it’s vital to know that what actually the digital money exchange is:
What is Digital Currency Exchange?
A digital currency exchange (also known as cryptocurrency exchange) is an online platform that allows an individual to buy, sell or exchange money for many other virtual digital currencies like Bitcoin, Ripple and Ethereum or traditional (fiat) money like EUR, USD and PKR.
Types of Online Currency Exchange
Based on the trade and money exchange there are 4 types of the cryptocurrency exchange.
As the name suggests, fiat exchanges allow online currency exchange of EUR, USD, INR and other government-issued currencies with the digital currency.
This currency exchange does not support fiat money rather than different cryptocurrencies are mutually exchanged with each other. Bitcoin-Ethereum is the most popular digital money exchange pair in the global market.
Direct trading between buyers and sellers is supported by P2P money exchange. There’s no intermediate exchange so, they don’t provide any fixed digital market price. Instead, the rate and price depend on the two independent parties which make an agreement.
These are the money converter and online currency exchange platforms, usually websites. Just as the foreign exchange, crypto price is set by the crypto brokers and they charge a price with top of the market price trends.
Here are some important things to keep in mind when you need to choose the best online currency exchange or crypto trading platforms.
No doubt that cryptocurrency exchange is the most popular money exchange/money converter to buy, sell and exchange online currencies. It provides you with great functions such as market analysis and trading volume of different digital currencies. But instant crypto exchanges take this further ahead like online currency exchange with multiple other digital currencies, without any complex signup processes and requirements. Instant crypto exchange simplifies the process of trade. It’s a safe and quick way to exchange between different crypto coins available globally.
Why Instant Currency Exchange Instead of Regular Exchange
There are so many reasons to go with instant currency exchange instead of regular currency exchange, some highlights are following.
Offers Extra Privacy
Unlike centralized digital exchanges that need signup and ID verification, most of the instant currency exchange are the quickest and safest way to buy, sell and exchange cryptocurrency.
Control it by yourself
Instant online currency exchange doesn’t store your assets on its servers. Instead, the non-custodial exchange permits you to manage and exchange crypto in crypto wallets.
It’s Privacy Proof and Safest
When you hold your funds and digital assets in your own private wallet, it will reduce the risk of money fraud and steal by any hacker attack. Just happened recently, an American website reported a $200million of value cryptocurrencies was stolen from online currency exchange. So, you need to first have an instant secure cryptocurrency wallet to keep your digital asset safe. Choose a reliable B4U Crypto Wallet for free.
Cool and Easy to Use Interface
Instant crypto exchange permits its users to quickly switch currencies and without going through time consuming processes. Use its pretty simple and super fun interface to create an account, like in most cases you only need a Google email account to get started.
How to do Instant Online Currency Exchange
As already mentioned that there is no as effective way as instant digital exchange is for your online currency exchange. If you want most of the reliable and safest currency exchange platforms in the market, Download B4U Wallet App which is one of the fastest and secure mobile wallet app to keep your online crypto trade with dozens of exchangeable currency options.