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To buy and sell cryptocurrency cheap

08/10/2018
|
  • Cryptocurrency
  • buy
  • sell
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The technology of buying through the cryptocurrency exchange is significantly different from the traditional one. The principle of auction works here. Sellers of contracts present their conditions. The buyer chooses from them which conditions suit him. The conditions how to buy and sell cryptocurrency may differ slightly at different sites. But in general, they are very similar.

The exchange acts as a dealer and guarantees the security of the transaction. To do this, it applies the following mechanisms:

  • A rating system by which customers with a good reputation receive more favourable conditions.
  • Escrow account where the seller holds bitcoins or another asset. As soon as the buyer transfers the funds, the goods pass into his possession.
  • Technology for appealing against illegal actions. If one of the parties breaks conditions, its access to the transactions is denied.
  • Technical support and consultants.

The seller and the buyer pass compulsory registration, after which they receive wallets. From them, all the transactions are carried out. Access is through a password that only the wallet owner knows. To make a profitable transaction, it is recommended to register on several exchanges. And before buying, compare the price of bitcoins.

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