What is a crypto exchange?

A crypto exchange is a marketplace where you can buy and sell cryptocurrencies, like bitcoin, Ether or Dogecoin. Cryptocurrency exchanges work a lot like other trading platforms that you may be familiar with. They provide you with accounts where you can create different order types to buy, sell and speculate in the crypto market.

Should you use a crypto exchange?

Carefully consider the cryptocurrencies available on a given exchange. You might be perfectly fine using a crypto exchange that only trades a few coins. Conversely, if you’re a crypto fiend, you may want access to all of the more than 600 available on Gate.io. The availability of coins alone isn’t sufficient if there are no trades happening.

Do crypto exchanges offer advanced trading features?

Some crypto exchanges support advanced trading features like margin accounts and futures trading, although these are less commonly available to U.S.-based users. Others have features like crypto staking or crypto loans that allow you to earn interest on your crypto holdings.