Exchanges

Exchanges are similar to wallets, but typically do a LOT more transactions and are collectively responsible for the market value of a specific coin. Do not confuse them with a wallet, wallets are a secure place to keep your coins whereas an exchange is where you can buy, sell and trade cryptocurrency. Some wallets, with changes in the global cryptocurrency economy, have become exchanges. LocalBitCoins, for example, became an exchange overnight when Chinese exchanges halted withdrawals and people needed a place to trade.

When deciding which exchange to use to buy your Bitcoin or altcoins, be sure to test them out first. When I first started trading, I made a few mistakes, and didn’t study much. I just wanted to make money fast! That is possible, but you need to know the markets first. That just takes a little time and research. Find out what coins are hot, what is happening in the news, their market cap, current volume, trade history, all kinds of factors that ‘tell’ whether or not a coin would be a good investment.

If you are only wanting to buy, sell and trade Bitcoin, then you need to have accounts on several exchanges. These accounts will give you a deposit address and most of them accept fiat payments to fund your account as well. Not all of them list BTC at the same price though, so, buy low and sell high. Makes sense right? This first list you see here are exchanges that are more focused on Bitcoin and don’t list very many altcoins. Some have added Doge, LTC, DASH, Ethereum, and a very select few others. Feel free to create an account at the ones that appeal to you.

The next few exchanges you’ll see are listing many, many more coins than the previous ones listed. This is where you can trade very unique cryptocurrency. Some of these exchanges are the only ones where a specific coin can be bought, traded or sold. If you are into the lucrative and lesser known markets of altcoins, you should definitely visit these exchanges. Remember to have fun and happy trading folks! I really like YoBit, it lists the newest coins! They have a bright future if they stay on the path they are on.