Author Topic: How Do You Trade Cryptocurrency for USD, EUR, GBP, etc.?  (Read 1182 times)

BeginnerCoin

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How Do You Trade Cryptocurrency for USD, EUR, GBP, etc.?
« on: August 28, 2016, 12:35:47 AM »
All cryptocurrencies are exchanged the same would any other currency.  The exchanger must find someone willing to trade one currency for another. Typically this would be through a broker or money-changer - the same as you would see in an international airport. 

In the world of cryptocurrency, these are called exchanges.  They are marketplaces for people to trade currencies.  What currencies are offered depend on the exchange and prices may also vary by exchange, but are quite strictly standardized by free market forces.

Which exchange you choose to depends on what currencies you’d like to change and the other services offered.  Like any exchange fees are generally associated with the exchange either directly in the rate or as a separate charge.  Make sure to read the rates carefully as you would with any financial service!

Also look into what services are offered on the exchange.  Some double as a bank so you can access your coins from anywhere in the world.  Without these banks, you would need to physically access the device on which your coins are stored in order to pay someone.  But as discussed above, this convenience comes with its own risk.  Many users set some coin aside in a spending account within the bank, while keeping savings in another place.  The choice is entirely up to you.

Below are a list of the most popular top-rated cryptocurrency exchanges, we encourage you to research which exchange works best for you:

https://coinmarketcap.com/exchanges/volume/24-hour/

To get started using one of these, you will need to create an account with the website you choose then follow the instructions provided.  As these are treated with the same level of security as any financial transaction. You may need to verify your identity in a number of ways depending on the security and Know-Your-Customer system set up by the specific exchange.  We recommend you choose one that suits your needs prior to signing up.
BGNR: 17Ct4dy5Ziw7PQvc5VU6Y75F6HHwstzCKR
BTC: 1DfkgpPNjx9xgSd2uxqgVmG8tqrCuiY6Wv