Crypto-Currency Exchanges: What Are They And How To Use Them?

Planning to sell a portion of your crypto-currency capital? The easy-peasy way to do this is to resort to special exchanges. In addition, such platforms allow you to purchase digital coins with various means of payment, from credit/debit cards to cash (via a money transfer system, such as Western Union). The main differences between numerous exchanges are:

  • the crypto-currencies offered;
  • the methods of payment accepted;
  • the countries or geographical regions covered with services.

Some websites may require registration and ID validation. Most exchanges don’t conduct transactions worth less than a certain minimum (e.g. $50), and/or set a limit for the max amount of crypto-currency you can buy or sell within a certain period (weekly or monthly).

Using a dedicated platform to exchange a crypto-currency is no sweat. All the steps are fairly simple. First of all, specify which currency you intend to exchange. After that, fill in the sum you want to exchange. The amount of currency you will receive is normally calculated by the exchange website automatically.

The next step is to fill in the wallet number from where you want to withdraw the crypto-currency, and the account where your converted digital coins will go. Every exchange platform requires the user to get acquainted with their terms of service. Read the suggested information; if no provisions are disputable, check in the ‘I agree’ box. According to the exchange procedure, the subsequent operations are performed either automatically or by an operator. The semi-automatic currency exchange and manual operation mode are what most exchanges employ nowadays.

Still think you haven’t really grasped the principles of operation of crypto-currency exchanges? No need to worry. All trusted platforms have an intuitive interface; most users never experience any difficulties on their way to a successful crypto-currency exchange.

However, if you do struggle with exchanging your crypto-currency, there’s always an opportunity to interact with the website that serves as the exchange platform. Find the feedback form and fill it in, specifying what electronic currencies you want to exchange, the exchange amount and the account to transfer your money to. Personal contact information may be required, such as name, email address and phone number. Worth noting: if the exchange website does not have a feedback option, it’s considered a less secure one. Opt for exchange platforms where a client who experiences a problem can contact customer support.