What Is Cryptocurrency Exchange & How It Works?

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CRYPTOCURRENCY EXCHANGE
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What Is Cryptocurrency Exchange?

• Cryptocurrency exchanges are online platforms
  where you can exchange one cryptocurrency for
  another cryptocurrency.
• In other words, depending on the exchange, it is
  either like a stock exchange or a currency
  exchange.
• A cryptocurrency exchange is also known as a
  digital currency exchange (DCE).

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How Cryptocurrency Exchange Work?
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Crypto Exchanges Works In Two Ways

• 1. Through a Decentralized Crypto Exchange
  (Pre-Programmed Software)

• Decentralised exchanges allow buyers and sellers
  to directly trade cryptocurrencies with one
  another without any third party intermediaries to
  ensure all trades are processed correctly.
• These exchanges would operate solely with the
  exchange of just cryptocurrency. 

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• 2. Through an Intermediary (Cryptocurrency
  Company) Fiat Exchange

• There are some cryptocurrency exchanges that act
  as an intermediary between buyer and seller and
  collect fees in order to profit from these
  exchanges.
• These types of exchanges would operate as a fiat
  exchange in which physical currency can be traded
  for the cryptocurrency.

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Advantages of Cryptocurrency Exchange

• Low or no fees
• No central point of authority with decentralized
  exchanges means no government interference
• No concentration of power. They are completely
  run by people.
• Decentralised exchanges have more privacy.

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Disadvantages of Cryptocurrency Exchange

• Lower liquidity (depending on the exchange)
• Longer trade times

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BITEX

• EZBitex is the currency exchange and banking
  infrastructure with a decentralized, distributed
  and immutable ledger provided by Bitex, which
  underpins the functioning of the entire system.