What are cryptocurrency exchanges?

Cryptocurrency exchanges are online platforms used to buy and sell cryptocurrency. These platforms are intermediaries between the buyer and seller, allowing users to trade cryptocurrencies using fiat money or altcoins. Many investors opt to use cryptocurrency exchanges due to their relatively low trading fees.

What is a centralized crypto exchange?

A centralized crypto exchange is the most common type of exchange platform and uses a third party to help conduct transactions. Users trust this third party to offer them security, monitoring, and help them find trading partners.

Are cryptocurrency exchanges beginner-friendly?

Many investors opt to use cryptocurrency exchanges due to their relatively low trading fees. However, keep in mind that some platforms might not be beginner-friendly, tending to overwhelm users, particularly those who are not familiar with trading stocks.

Are there KYC-less crypto exchanges?

In fact, there are still dozens of exchanges you can access without having to risk your personal documents and identity. The following guide examines six such platforms, and considers precautions you should take when using KYC-less crypto exchanges.