What You Need To Know About Cryptocurrency Trading

Cryptocurrency exchanges are known as online platforms that allow people to exchange crypto. What this means is that dependent on the actual transaction, it will either be a currency-trade or a stock-trade (at a bank or an airport).

In general, there are different categories of cryptocurrency Rubix exchange that include the following:

1. Traditional Cryptocurrency Trades

This type of Trade is similar to traditional models of stock where sellers and buyers trade according to a current market price for a cryptocurrency (with the transfer playing the middle-man). These trading platform types typically charge fees on every transaction. Some trades types are only linked with cryptocurrency, while others will allow users the ability to trade the fiat currencies such as U.S dollars for a cryptocurrency like Bitcoin.

Examples of this type of exchange include Kraken and Coinbase’s GDAX. Of these exchanges, some are run by a 3rd party which consists of a middle-man that offers support and can correct a few problems, and DEXs or Decentralized Exchanges which mimic the traditional exchanges such as IDEX where trading will be based on the Smart Contracts and will not be facilitated through centralized 3rd party software.

In general, the centralized exchanges require lots of information, yet will often allow fiat trading, while exchanges will not allow for fiat trading yet need a lot less information.

2. Cryptocurrency Brokers

This includes website-based trades which are similar to currency exchanges at the airports. This platform allows users to sell and buy cryptocurrencies at prices which are set by a broker. This price is usually a market price along with added premium that is small (to cover the broker fee). These transfer occur between a seller or buyer and a broker and not between sellers and buyers.

Coinbase is one of the examples of these types of exchanges. Shapeshift also provides services that are similar where it allows users to swap one token type for another. This is regarded as the easiest solution for new users. This approach is usually associated with a slightly higher price due to the work that a broker is putting in and the ease-of-use.

3. Direct Trading Platforms

These are the platforms that provide direct peer-to-peer trading that occurs between sellers and buyers. These platforms do not use the fixed market prices, but instead, the sellers set an exchange rate of their choosing, and the buyers find the sellers through these platforms where they then perform an OTC (Over the Counter) Exchange. Or they will denote rates they will pay and the platform with the match up buyers with sellers.

Most of the Decentralized Exchanges fall into this category. This form is exchanged the only available solution in specific regions. In these regions when trading is only limited to direct exchange, ensure you conduct additional research and make sure the platform you are using is trusted and deals with users that are highly-rated (credible). Also, provide to check on the current market prices featured on Coinmarketcap as you won’t be selling/buying at fixed market prices.

4. Cryptocurrency Funds

The funds make up pools of cryptocurrency assets that are professionally managed that allows the public to buy and to hold cryptocurrency through the fund. One of these funds includes GBTC. With funds, you can invest in cryptocurrencies without the need to store or purchase your crypto directly. The trade-off for this option is that you cannot use the cryptocurrency in these funds in the form of money as they are only for investment purposes.


In the majority of cases, beginners to cryptocurrency trading usually prefer to use a broker. Newcomers in general only make use of the direct trading platforms when the options happen to be limited. These limitations include limits in coin choices or regulatory limits. The funds may be an ideal option for some; they usually come with some restrictions. ETCG and GBTC, for example, are the only current funds available to the public.

In the areas where Coinbase is available, and you are still new to cryptocurrencies, it is suggested to start with GDAX/Coinbase. Of course, there are many other options on offer, but these are regarded as more beginner-friendly.

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