In cryptocurrency exchangers or exchanges you need to provide information
Today, few exchange services allow you to change large amounts without registration and verification. The best cryptocurrency exchanges generally do not provide access to trading without providing personal information and confirming it. This is all normal protection from intruders.
However, here there are different levels of guaranteed protection of personal information. This is important, because during transactions, users indicate not only their full name, but also the address of the crypto wallet or bank card details.
On exchanges there is more or less reliable protection of this data, but on exchangers a leak is very likely. The consequences, of course, will be sad if hackers get the information.
What are the benefits of cryptocurrency exchangers?
When considering the question of what is better, a cryptocurrency exchanger or an exchange, the first option seems very bad. At first glance, such services do not have any advantages.
But this is only an initial impression, since online exchange services are very beneficial in many situations. They are used to solve slightly different problems.
So, cryptocurrency exchangers have the following positive features:
– simple interface design. There is no need to study price charts, conduct technical analysis, draw trend lines, etc. People come here to quickly exchange cryptocurrency for rubles, other fiat or other coins;
– to convert small amounts, no registration or verification procedure is required. This speeds up operations;
– reliable services for online exchange of cryptocoins have integration with major electronic payment systems (ADVcash, WebMoney, etc.). This aspect facilitates quick transactions – depositing an account and withdrawing fiat currency or other coins;
– conversions are carried out promptly and almost always automatically. Also here the time of the exchange process is reduced;
– exchangers often have no minimum limits. That is, after conversion, you can withdraw any amounts. Usually the threshold is 50 rubles. Also with maximum volumes – the operation is performed within the limit that the service has.
Where to buy coins – cryptocurrency exchangers or exchanges
Almost 93% of all financial transactions using digital coins are carried out on cryptocurrency exchanges. Some users still prefer to use the functionality of online exchangers. This type of service is characterized by completely different capabilities.
By analogy with exchange platforms, exchange services also provide the service of buying/selling bitcoin or alternative cryptocurrencies. Both experienced traders and beginners can carry out operations here. It is not difficult, for example, to exchange 15 litecoins for 49,094.67 rubles or make a more modest conversion of 1 stellar for ₽7.64.
You can choose from the options of a cryptocurrency exchanger or stock exchange when using a more classic format for purchasing currencies. There is a base monetary unit for which the Central Bank sets the price.
Such currency can be purchased exclusively at bank offices, as well as at an exchange office located in a neighboring house. The bank sells monetary units at the price set by the Central Bank. Most often they add a small markup.
Exchangers are free to set any price at all – at least 200% more. Another thing is that clients will not turn to them for such a conversion.
The cryptocurrency market operates according to a similar pattern. Online exchangers set their quotes for digital coins based on the prices of exchange platforms. In fact, they leave no alternatives for users who are forced to accept such conditions.
On stock exchanges the scheme is slightly different. Here, the operation of transferring one currency to another occurs when a consensus is reached between traders. The exchange only provides convenience of transactions, security, speed and functionality.
Some participants in the trading platform offer coins, others buy it at a price that suits them. This creates conditions and more favorable parameters for the operation.
There is no dependence on management decisions, since orders are executed only upon mutual agreement of the parties. Therefore, such exchange transactions are more profitable.
Conclusion: Cryptocurrency Exchange or Exchange
After evaluating all the arguments, you can draw logical, objective conclusions. Exchanges definitely have significantly more significant advantages that are useful for professionals.
Yes, there are time delays, mandatory verification and the risk of account blocking, but these are minor things. With normal use of the capabilities of a reputable project, all conversions will occur without problems.
When you need a small exchange, it is more advisable to use the services of online digital coin exchangers. There are virtually no difficulties, there is nothing to block an account for, operations are quick. But there are limits and extra charges. Therefore, online exchange services are more profitable here for small conversions.
It turns out that it is definitely impossible to make a choice between a cryptocurrency exchanger or an exchange. Everywhere there are benefits for solving a set of specific problems.
It is better to exchange large amounts of cryptocurrencies on the exchange at the market price. For small amounts of decentralized money, it is advantageous to carry out the conversion in a crypto exchange.