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Why do many people choose exchange services to buy or sell crypto?

Many financial experts predict that soon, cryptocurrency will supplant the usual money and become the main currency even in central and commercial banks. Thus, there is every reason to assume that cryptocurrency has a real financial future behind it.

The global crisis has become a weighty ground for the spread of cryptocurrencies. The active growth of inflation leads to the gradual depreciation of national currencies. And after the beginning of the COVID-19 pandemic, this issue became especially urgent. The whole world was moved to a remote mode and often deprived of the ability to use fiat money.  All these factors have a positive impact on the public’s acceptance of cryptocurrency. Some countries have already legalized crypto, and Bitcoin can be used to pay for goods and even travel.

Crypto exchanges are services that can be used to convert regular fiat money for crypto, as well as to exchange various cryptocurrencies among themselves.  They work as simple as possible. For example, we choose the HBAR vs XRP crypto pair. Having carried out a comparative crypto analysis of these coins, and their price predictions the client e.g. chooses the asset he wants to buy – HBAR and the wallet number for its enrollment. Then he pays the cost of the exchange with XRP, as well as a small commission of the service for the transaction, and then receives the purchased HBAR currency.

Buying and selling cryptocurrencies, moreover, in automatic mode is accessible on the website. The service performs all transactions without intermediaries and anonymously through secure communication channels and is considered one of the best cryptocurrency exchange spots on the market.

The advantages of the Godex crypto exchange are the following:

  • Anonymity, convenience, and ease of use. Registration and verification is not required. This can be demanded to maintain privacy. Exchanges in their turn, usually require full verification. The service`s interface is clear and intuitive. There is no need to understand complex trading operations and charts as on crypto exchanges. It is enough to specify the required amount of crypto, enter the details, and confirm the transaction.
  • High exchange speed. Godex online exchange facility allows you to buy or sell cryptocurrency quickly and at a favorable rate. On exchanges, you will have to wait for the appearance of the necessary orders and the execution of the transaction, while here the whole process is instantaneous.
  • No trading risks. When buying or selling, there is no risk of losing money due to sharp fluctuations in the rate as in the case of exchanges. The rate remains fixed during the transaction until its full completion.
  • Large selection of cryptocurrencies. Godex works with several hundreds of popular crypto coins: Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Dogecoin (Doge), Litecoin (LTC), etc. This makes it easy to switch from one crypto to another. On exchanges, such an option is not always available.
  • Absence of transaction limits. There are no limits on buying and selling crypto here, unlike on exchanges. This is convenient for large investors.

It should be noted that cryptocurrency exchanges also have similar functionality, but these platforms are created for other active trading of digital currencies. These merchandising platforms are similar to the stock exchanges with the difference that they specialize in operations with cryptocurrencies. There is an ability to trade with leverage, affiliate programs, pools for mining, and more. Exchanges are only part of its capabilities. Using exchanges purely for conversions is like renting a scanner from the track; i.e. you can do it, but it is not expedient. Not to mention that it’s not exactly convenient because exchanges are burdened with unnecessary options.

Crypto exchange services have only one function to exchange. Here, everything is simple and clear, and this is exactly what many people need now. Therefore, the audience of their users is constantly growing. However, there are certain risks here, especially if you are dealing with digital currencies for the first time.