{"id":199,"date":"2021-08-29T19:31:26","date_gmt":"2021-08-30T02:31:26","guid":{"rendered":"https:\/\/theplandanhollings.com\/?p=199"},"modified":"2021-10-07T13:49:17","modified_gmt":"2021-10-07T20:49:17","slug":"cryptocurrency-exchanges-what-they-are-how-they-work","status":"publish","type":"post","link":"https:\/\/theplandanhollings.com\/cryptocurrency\/cryptocurrency-exchanges-what-they-are-how-they-work\/","title":{"rendered":"Cryptocurrency Exchanges: What They Are & How They Work"},"content":{"rendered":"\n

The daily trade volume<\/a> on the 50-year-old Nasdaq (home to $AAPL, $AMZN, and more) is around $200 billion. In close to 4 years, Binance has already reached $30 billion<\/a> in 24-hour trade volume. The bottom line? Exchanges are growing fast.<\/p>\n\n\n\n

As cryptocurrency becomes the future of finance, exchanges are windows for people like us to leverage the markets ourselves. Before that, it might be helpful to know what a cryptocurrency exchange is and which ones to use. Ready? Let’s go.<\/p>\n\n\n\n

What is Cryptocurrency?<\/strong><\/h2>\n\n\n\n

Cryptocurrency is digital money that you can use to buy or sell goods or services. It’s different from regular fiat currency in that its users are its regulators, not a government or banking authority. <\/p>\n\n\n\n

Instead, we record crypto transactions on the blockchain. This is a public ledger that is simultaneously updated and secured on a global computer network. <\/p>\n\n\n\n

What is a Crypto Exchange? How Does it Work?<\/strong><\/h2>\n\n\n\n

Crypto exchanges are trading platforms to buy and sell cryptocurrencies like Bitcoin, Ethereum, and more. They serve some essential functions:<\/p>\n\n\n\n