What is a Cryptocurrency Exchange?

A cryptocurrency exchange is a website or platform where people can be connected so they can trade (buy or sell) their cryptocurrencies. It is a well-organized marketplace, where you can see the offers – called bids and asks – on each Cryptocurrency.

cryptocurrency exchange

Who can use Cryptocurrency Exchange?

Cryptocurrency exchanges can be used by everyone, from investors to traders, and even curious people desire to watch how all this works. On most exchanges, you do not even have to register to see the live trading. Just give it a try here: https://www.binance.com/en/trade/btc_usdt

crypto exchange

As you can see, there is much information on many exchanges. We are not going into the details of the menu, but the exchange gives you a lot of important data if you want to trade.

First, you can notice which pair you are monitoring in the top left corner. The chart in the center displays the price action. On the left panel, you can see all the orders from traders who want to buy or sell your pair. In the right panel, you can see the list of cryptocurrencies supported on Binance, and just below that, the history of all the recent trades. This picture is relevant only for the Binance exchange platform. However, all the exchanges are organized in the same way, showing the same information, but not displayed in the same position.