Did you know that there are too many cryptocurrencies, thousands of them, and new ones are added every month? But before you start cryptocurrency exchange or investing in it, you must choose an exchange wisely. The right choice will help minimize mistakes, protect against possible financial losses and allow you to enjoy the process. This article will tell you what a crypto exchange is, how cryptocurrency exchange works and what you should pay attention to when choosing an exchange platform. Apply for a crypto listing on a P2B cryptocurrency exchange.

 

 

Commission

An important factor in choosing and starting a cryptocurrency exchange is adequate commission. It may be based on trade size or your level of trading activity, or, in some cases, it may not be related to any of these factors. When you are ready to buy and sell cryptocurrencies in this way, it is essential to learn and be aware of exchange fees.

For example, on the P2B platform, commissions for simplex transactions are from 3.5% to 5% of the transaction value. A minimum fee of $10 applies, which means that if your transaction is for a smaller amount, the fee percentage will be higher. Additional fees may apply when purchasing in a fiat currency other than the US dollar.

 

Ways of entering and withdrawing funds

The number of withdrawal and top-up options is also an indicator of the company's reputation: the more there are, the more convenient it is to work with the exchange.

As a rule, popular payment systems do not cooperate with trading platforms that have engaged in illegal activities or confirmed customer complaints.

 

Asset storage security

The next thing you should know before starting a cryptocurrency exchange is that cryptocurrency services cannot yet compete with banks in terms of security and ease of use due to the insufficient development of the industry.

Currency purchased on the online exchange can be stored in two ways:

• on the crypto exchange;
• on a cryptocurrency wallet.

Let's find out what the difference is between a crypto wallet and an exchange:

 

First way

When creating an account, the user gets his wallet. It supports all the coins that are traded on the exchange, they are always accessible, and the required amount can be sold and bought.

This option is suitable for working with licensed platforms. One of the advantages of this storage method is the ability to restore access to your account easily.

 

Second way

A safer way to store assets is in a cryptocurrency wallet. But it requires specific knowledge and experience, so it is unsuitable for many novice investors. We will talk about the types of wallets in one of our materials.

Difficulties with the issue of storing digital currency in a wallet often prevent newcomers from entering the market for the first time. That is why some crypto exchanges offer conditions for the safe storage of funds directly on the platform.

 

List of available cryptocurrencies

Crypto world is not only Bitcoin. It is developing, changing, and improving. Therefore, beginners are advised to choose exchanges that work with an extensive list of various digital assets of crypto-assets - from ten or more. After all, the more currencies are represented, the more opportunities for trading and investing.

 

The popularity of cryptocurrency and its potential in 2023

The most popular and easiest way to buy, sell and list digital assets is through a digital currency or cryptocurrency exchange. Sound simple? When deciding which exchange to choose, paying attention to supported currencies, prices, fees, withdrawal options, and security is essential.

We hope this article was helpful to you, and now you know more about what crypto exchange is and how cryptocurrency exchange work. But if you still haven't decided where to start a crypto exchange, we have a solution for you!

P2B Cryptocurrency Exchange, one of the largest international digital asset exchanges with $1.5 billion in daily trades, offers the best market entry experience for crypto projects and the widest selection of tokens multiplied by exciting trading functionality for users.