What is Bitcoin Trading?



 

What is Bitcoin Trading / Exchange?

A bitcoin exchange is a marketplace online/digitally where people and traders can go to buy and sell bitcoins, Litecoins, Ethereum and all other different Altcoins using a range of fiat currencies or altcoins.

A bitcoin exchange is basically a very secure website that serves as a go-between for buyers and sellers of different cryptocurrency.

Bitcoin Exchange in Detail

Like a normal stock exchange, traders can choose to either buy or sell bitcoin
Every bitcoin exchange has transaction fees for every buy and sell order within the specific exchange. The fee rate differs from coin to coin and exchange to exchange.

To trade with bitcoin on an exchange a person has to first register and then go through a series of verification processes to make sure that you are real and that you are who you say you are. Once authentication is successful there is an account created for you. You will then need to transfer coins into your account before you are able to trade.

Each exchanges has different payment methods that you can use to deposit your coins and may even accept  gift cards.

Please note that a bitcoin exchange is not a bitcoin wallet. Exchanges offer a platform where buyers and sellers can transact with one another where a wallet is a digital storage for bitcoins. Bitcoin exchanges do provide wallets but they may charge you a fee for this.



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