Best cryptocurrency exchanges of 2022
Cryptocurrency exchanges allow the transfer of crypto between buyers and sellers. Learn about the top crypto exchange options.
by Scott Matteson in Innovation
on May 27, 2022, 10:07 AM PDT
What is cryptocurrency, and what is a crypto exchange?
Cryptocurrencies, often shortened to crypto, are digital or virtual currencies often in the form of tokens used to engage in secure online transactions such as payments. A crypto exchange is a digital transaction mechanism – essentially an online market – which allows you to buy and sell cryptocurrency.
The most well-known cryptocurrency is probably Bitcoin, currently valued at a whopping $29K as of May 2022, and entire industries have sprung up to help facilitate the use and exchange of crypto.
One term also worth noting is stablecoin, which refers to crypto with values tied to real-world assets such as a country’s unit of currency. Stablecoin help to ensure stable and accurate values of cryptocurrency.
The crypto exchange process is similar to any other financial transaction involving a buyer and a seller. The current market prices of the cryptocurrencies involved are factored into the transactions, and you can exchange similar or diverse types of cryptocurrency depending on your desires.
Cryptocurrency can be converted to and from typical currencies such as the U.S. dollar or Euro, and money can be moved to and from crypto accounts to typical financial accounts such as checking accounts.
Crypto wallets enable the storage of digital currencies and tokens and are highly recommended for security and ease of use.
Best cryptocurrency exchanges
The term “best” can be subject to individual interpretation, but for the purposes of this article I’ll designate the most well known, reliable, easy to use and secure options I’ve researched to designate the top crypto exchanges.
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