A crypto exchange is a place where you can exchange fiat currency like Euro and dollars, to your favourite cryptocurrency or you can buy and sell crypto against other cryptocurrencies. There are 100’s of Crypto Exchanges available online, and while most of them offer the same service, then the price for exchanging your money for coins is different from place to place, and something you need to be aware of. While exchanging from fiat to crypto or visa versa, is what most people do, then there is so much more to exchanges today. Some of the big names offers for example an variety of staking options and lending possibilities where you can place your money and earn a yield that is paid out from anywhere between every day to monthly and in the range of 2% yield/year all the way up to 50% yield/year. You will find both lower and higher yields, but please do your own due diligence before placing your money in something too risky. “If it sounds to good to be true, it most likely is to good to be true”
As with any other thing in the world, then there are many Crypto Exchanges out there and they all promise you amazing things, but before you join the first and best crypto exchange, then there are several things you can do to make sure you join the exchange that fit your needs best
A Crypto Exchange is a place where you can buy and sell cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, Solana and much more.
You will find different types of Crypto Exchanges and your personal prefences determines which type suits you best.
Offshore Exchange is based out of the sight of regulators and is operating on different types of local licenses.
Licensed Exchanges is working from a country which provide regulations and a framework for them to work in. Coinbase is a licensed crypto exchange listed on Nasdaq
DEX is a decentralised exchange where you do not have any middle men and the exchange is operating without any ownership.
CEX is a Centralised exchange like coinbase, fully licensed, regulated
The best crypto exchange for you depends on your residency and local laws. Offshore crypto exchanges do operate in most countries, but be aware that your local country might have rules in place to prevent you from depositing or withdrawing funds to fiat.
The crypto exchange with the lowest fee depends in most exchanges on the volume you trade. Most exchanges have some kind of VIP program with benefits such as lower exchange fee’s, in some exchanges you will get a discount in the fee if you hold their token.