The first concept that you should know if you are interested in buying and selling cryptocurrencies is what are called exchanges. They are virtual platforms, and as their own name indicates, they serve to exchange all kinds of cryptocurrencies for fiat money or vice versa. Fiat is a term that is used to name any other world currencies such as euros, dollars, etc.Visit this site for btc to gbp.
The following types of exchange houses can be distinguished according to their characteristics:
They work like stock exchanges. Users who buy and sell cryptocurrencies on these types of platforms accept the current market price of digital currencies established by the platform. This type of exchange works as an intermediary and therefore they charge a fee for each transaction that is made. Usually the currency that is most used for buying and selling is the US dollar.Click here for btc to gbp.
Direct trading Exchanges
There is no direct intermediary, users are the ones who make the exchanges directly. Therefore, the price of Bitcoin and that of the other cryptocurrencies is not stipulated. The platform is in charge of putting buyers and sellers in contact, depending on whether their negotiation criteria are more or less adapted.
Cryptocurrency Brokers Exchanges
They work like a currency exchange house, where users can exchange one cryptocurrency for another. They buy according to the market price adding a small commission. It is a comfortable option and its rates vary according to the volume of products bought or sold.
They allow you to acquire cryptocurrencies through a fund made up of virtual currencies that is professionally managed. What is actually bought is a part of the fund which contains cryptocurrencies, but the digital currencies themselves are not acquired.