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Types Of Cryptocurrency Exchange Platforms

  • Are you looking to enter into the cryptocurrency exchange platform? Entrepreneurs are quickly starting the crypto exchange business to make millions of money generated. Approximately $113 billion of cryptocurrencies are trading daily. Blockchain institutions report daily that 27,000 new users are entering the crypto exchange business.  So you start the crypto exchange business with the hope that you can earn passive income from the platform.

    First, we see the short brief on the cryptocurrency exchange business, then deep dive into the topics.

    The cryptocurrency exchange business is a digital platform, where users buy and sell cryptocurrencies. And also users trade cryptocurrencies with other ones. Cryptocurrency exchange platforms provide high liquidity. 

    Types of cryptocurrency exchange platform

    Various crypto exchange platform types are available in the market, and all of them have unique and own features. We show them one by one..,

    Centralized Exchange 

    Centralized platforms take over the control of owners. If users buy or sell the cryptocurrencies, platform owners intermediate with transactions or functions.CEX platform as same the stock exchange, but uses digital assets. Some popular centralized crypto exchange platforms are Binance, Kucoin, Coinbase exchange, and Kraken.

    Advantage of CEX

    • As per second, millions of translations are completed.
    • It offers multiple features to professional traders and beginners.
    • It is a user-friendly design and simple to use it.

    Decentralized Exchange 

    Decentralized platforms have the same functions as centralized platforms, but no middleman intermediates the process. It is built-in smart contract automation, so smart contract control over the functions. Users buy or sell the cryptocurrencies to another one. DEX is the most secure crypto exchange platform.

    Advantage of DEX

    • DEX platform maximum reduced the user to loss the funds in the crypto wallets.
    • It is not needed for KYC verification.

    Peer-to-peer Exchange 

    Peer-to-peer exchange refers to no intermediates involving exchanges or sharing of information, data, or assets. It is exchanging cryptocurrencies or digital assets with individuals and groups.

    Advantages of Peer-to-Peer

    • Peer-to-peer exchanges get no fees from deposits and transactions.
    • It is mostly used by beginners.

    In Summary

    These three platforms are popular in the current crypto market. Now, you realize them. You have an idea for the crypto exchange, Which exchange platform is suitable for you and you know how to earn money from the platforms.

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