What is a digital currency exchange? + Introducing the top 3 exchanges

The digital currency exchange is one of the institutions that provides trading and trading for users in the cryptocurrency financial markets. An exchange in this market can operate as a site or an application. In order to be able to properly take care of your funds and exchange them in the financial markets, it is necessary to become a member of a digital currency exchange in the first step. In this article, we want to talk about these collections and get to know the best digital currency exchange. Then we will answer your frequently asked questions at the end of this article.

What is a digital currency exchange?

Today, many people try to use different methods to earn money. One of the best strategies you can use to multiply your capital is trading. In fact, trading is a long and short-term investment method that, if you do it correctly, you can increase or decrease your capital by tens of times using the right opportunities. In order to be able to use this method, you need to choose one of the financial markets, i.e. digital currency or forex (currency pairs market).

The prerequisite for entering the cryptocurrency market is to register in a digital currency exchange and trade in them, which today have both foreign and domestic models. You may ask what is a digital currency exchange? In response, we must say that an exchange is an economic unit that has the task of providing a suitable platform for buying, selling and maintaining cryptocurrencies.

Without a digital currency exchange, you cannot properly connect to the financial markets and perform your financial transactions to buy or sell digital currency. Digital currency exchanges work in two ways, which are:

• Dealing with the exchange itself: in this case, you buy and sell currency from the exchange itself.
• Intermediary: In this case, the exchange acts only as an intermediary and matches the offers of buyers and sellers.

What is the role of digital currency exchange?

As we said, trading in the cryptocurrency market is not possible without a digital currency exchange. Regarding the role of these units and the services they can provide you, the following points should be mentioned:

• Digital currency transactions: The most basic services that these platforms provide is the possibility of buying and selling digital currencies. Depending on which type of exchange you choose, you can buy or sell over dozens and hundreds of different cryptocurrencies.
• Leveraged transactions: Another important role of a digital currency exchange is the possibility of offering attractive features in transactions, some of which include: futures, margin and leveraged transactions. In this case, you can multiply and improve the amount of profit or loss in your transactions.
• Staking: You can offer your cryptocurrencies to an exchange and receive interest for the time your capital is in the hands of the exchange. Usually, this method has much less profit, but it is a safe way to earn money through cryptocurrencies.
• Storage of cryptocurrencies: All digital currency exchanges in today’s world have digital wallets in which tokens can be stored. Therefore, you can store cryptocurrencies in your wallet or online wallets.
• Cryptocurrency transfer: Another thing that can be done with the help of digital currency exchanges is the transfer of cryptocurrencies. In this case, you can buy a currency equivalent to the cost you are considering and transfer it to another person’s wallet in an exchange without the need to prepare international accounts. This method is one of the best methods to bypass sanctions and pay on foreign sites.

Familiarity with digital currency exchange

Introducing 3 of the best digital currency exchanges

Now, as we promised from the beginning of the article, we want to introduce 3 important digital currency exchanges in Iran and abroad, which are as follows:

• Binance: The first rank of the world’s best cryptocurrency exchange belongs to Binance. However, this exchange does not register Iranian users due to the imposed sanctions. You can use your foreign friends to register and authenticate on this platform.
• Coinex: If you are looking for a foreign digital currency exchange that is not sanctioned and has a good reputation, you should mention Coinex. The platform supports more than 650 different coins and has a daily turnover of $8 million.
• Nobitex: If you are looking for the best digital currency exchange in Iran, Nobitex can be mentioned. This platform supports 90 different coins and all Iranians can register and authenticate. The exchange now has more than 4.3 million registered users with more than 230 million transactions.

Familiarity with 3 digital currency exchanges

common questions

Some of the frequently asked questions from you users about the best digital currency exchange are:

• What prerequisites and facilities are required to enter the cryptocurrency market?

In response to this question, the most important prerequisite is passing a digital currency training course; Because without proper training in this market, you can easily lose all the capital you put into it. Pay attention to the fact that the cryptocurrency market is a two-way market, which, along with profits, has brought heavy losses to many people. Therefore, to prevent and reduce possible losses, we recommend that you take a digital currency training course.

• What are the best exchanges in the country?

Among the best exchanges in the country, we can mention Nobitex, Valex and Aban Tether.