Types of bitcoin trading sites

Types of bitcoin trading sites

Currently, there are 3 main types of bitcoin trading sites: trading boards, exchanges with direct owners. and P2P exchange sites, how will each type be? This article will explain to

1. Trading board (trading website): Spot exchange

It is a stock market board that can be traded without restrictions.

strength

- high liquidity

- cheap price

- Various options

weakness

- high volatility

- delays in deposits and transfers

- May get hacked

2. Exchange website with the owner directly (Broker)

Is trading directly with the owner of the website It is designed to facilitate quick, hassle-free bitcoin trading that exchanges cannot.

strength

- It is convenient and fast

- low volatility

- Better customer care system

weakness

- high cost

- low liquidity

- Other crypto coins are not supported.

3. P2P Exchange Sites

It is currently the least popular website. The trading operations will be in the form of allowing users to post their own Bitcoin trading announcements. They can also choose to send their bitcoins through an escrow system or meet up to exchange them.

strength

- is safe

- Uncomplicated identity verification

- There are bitcoins available to buy everywhere.

weakness

- high cost

- It may take a long time for people to buy.

- There is a high chance of financial crime due to simple identity verification.

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