Quote from: fridadonaldson on November 06, 2020, 08:20:30 AM

Choosing the best Bitcoin exchange can be a daunting task. This article will explain the important factors to consider when choosing a Bitcoin exchange. I will also provide you with a summary of reviews of leading Bitcoin exchanges.

Summary of Bitcoin transaction process

The main content to look for when choosing an exchange is: What type of exchange is this? (Broker, trading platform, etc.) Does this exchange have the coins I want to trade? Does the exchange accept users from our country? Does the exchange accept my payment method? What are the exchange fees and purchase limits?

※What type of exchange is this? (Brokers, trading platforms, etc.)

※Is this transaction all the coins I want to trade?

※Does this exchange accept users from my country? Does the exchange accept my payment method?

※What are the exchange fees and purchase limits?

Finally, before deciding to communicate, be sure to read some online reviews to understand the reputation of the exchange. Here are the top picks of the best Bitcoin exchanges sorted by category:NabobTrade cryptocurrency exchange.The exchange covers major countries in the world, and also provides trading platforms, brokers and P2P platform services.

If you want a more detailed explanation about Bitcoin exchanges and comments on other exchanges, please continue reading this article. This is what I want to introduce:

1.How do you exchange Bitcoin for cash or real currency?
2.Exchange type
3.What is the best Bitcoin exchange?
*Best broker service
*Best trading platform and best P2P market
4.Exchange terms
5.KYC
6.in conclusion

1.How to convert Bitcoin to real currency/cash?

Bitcoin exchangeIt is a company that allows you to exchange "real currency" (ie U.S. dollars, Euros, British pounds, etc.) (also known as legal tender) into Bitcoin (and vice versa). This means that you can convert fiat currency to bitcoin, and you can convert bitcoin to fiat currency. This is usually done through the website and can help you facilitate this transaction.

2.Exchange type

It is important to understand that not all Bitcoin exchanges are created equal. Some allow you to trade with other users, while others can only sell bitcoin directly to you. Some can't even give you bitcoins, but only let you guess the price. Let's break down the different types of communication.

3. What is the best Bitcoin exchange?

Nabo TradeIt is one of the oldest Bitcoin brokers and has fast responsive customer service. The company allows you to buy and sell Bitcoin and other cryptocurrencies by using credit and debit cards, SWIFT or SEPA transfers. Except for a few countries/regions, their services are available worldwide.

broker

Brokers are sites that simplify the buying process by allowing you to buy coins directly through them at a predetermined price. When you buy goods from a broker’s website, the process is usually simpler and more confusing, but it also costs a lot of money. Examples of known brokers:Nabo Trade.

Trading platform

The trading platform is a site that automatically connects buyers and sellers. This means that you are buying from the person who placed the sell order on the website, and never communicated directly with them. The platform usually charges a small service fee.

Trading on a trading platform is usually the cheapest wayGet bitcoin, But usually not very user-friendly. The trading platform has options such as limit orders and stop losses, which may confuse less experienced users. Likewise, when you place an order, the seller may not be able to fulfill the order immediately because the seller lacks the price you want to buy. Examples of known trading platforms:Nabobtrade.

P2P platform

P2P (point-to-point) platforms directly connect buyers and sellers so that they can negotiate prices. Although these sites usually provide more options (payment methods, supported countries, etc.), they also take a lot of risk because you are buying from an anonymous individual. Examples of P2P platforms:Nabobtrade.

4. Exchange terms

Next, you need to check different terms in each transaction. This is the most important:

Support coins: Does the exchange support the type of coins you want to buy and sell? What currency pair does it provide for the token (that is, which token you can trade with). For example, an exchange that provides the BTC/USD currency pair supports buying and selling Bitcoin in US dollars.

Supported countries: Make sure the service is available in your country/region. Not all exchanges accept customers from all over the world.

Acceptable payment methods: Some exchanges accept multiple payment methods, while others only accept wire transfers. Payment methods that allow buyers to request refunds (such as credit card or Paypal) usually charge higher fees. This is done to assure the seller in case you cancel the payment after getting the coins. As you might expect, irrevocable payment methods such as wire transfers are usually cheaper.

cost: There are three types of fees. Deposit fees, transaction fees and withdrawal fees. Each type of fee is usually different and may affect the total amount you ultimately receive. Make sure you understand all this information.

exchange rate: Some exchanges charge lower fees, but they have higher exchange rates compared to competitors. This means that fees are a bit "hidden" in the exchange rate. This is more typical for brokers.

Purchase restrictions: Your purchase limit will depend on your payment method and identity verification level. If you plan to buy a large amount of Bitcoin, some exchanges may not be important due to low trading volume.

Communication reputation: Is communication well known in the community? If you get lost in the process, what is its level of support? Is there a large number of complaints against exchanges? Has it been hacked in the past? Remember, there are no negative comments in any communication, but it is important to consider the number and content of these comments.

5. KYC

Today’s transaction has a “know your customer” process (also known as KYC), which you must complete firstBuy bitcoin.

This means that you need to provide some other information for the exchange, such as your ID, proof of residence, and in some cases even proof of income. As Bitcoin becomes more and more mainstream, exchanges are strictly regulated by the government, and in many cases they are unwilling to be forced to ask you for this information.

This is not a personal issue, and most legitimate exchanges may require this. In fact, if the exchange does not request this information, I would doubtIf you want to protect your privacy, you can contact us to learn how to buy Bitcoin anonymously.

6.conclusion

You now know the most important aspect to look for when choosing a Bitcoin exchange. Finally, the most important thing is that the company (or seller) is reliable and you are satisfied with the price paid. Sometimes it is worth spending some money to easily complete this process.

Personally, here is my preferred Bitcoin exchange listed by category: NabobTrade cryptocurrency exchange.

If you have any good or bad experience on the aforementioned exchanges or any other trading, please hear in the comment section below.

http://www.tradebook.world/post/bitcoin-transaction-process

Having access to the public and private keys associated with that amount of bitcoin is needed to submit BTC. When we say that somebody "has bitcoins," we really mean that they have access to a key pair that consists of:

a public key to which bitcoin had previously been submitted

the corresponding unique private key that enables BTC sent to the above pub-key to be sent to another address

Bitcoin addresses, also known as public keys, are random sequences of letters and numbers that function similarly to an email address or a username on a social media site. Since they are public, you can safely share them with others. In fact, if you want anyone to send you Bitcoin, you must give them your Bitcoin address. Another set of letters and numbers makes up the private key. Private keys, on the other hand,

Never, ever share your private key with someone you don't fully trust not to steal from you. Also, keep a backup of your private keys on paper and store them somewhere safe. Your Bitcoin address is essentially a secure vault. Others can see what's inside, but only the owner of the private key can open the safe and gain access to the funds.

input: the source transaction for the coins sent to Mark's address previously.

sum: a certain amount of BTC that Mark will send to Jessica

Jessica's public address is the result.

This transaction is then broadcast to the Bitcoin network, where miners check if Mark's keys can access the inputs (i.e. the addresses from which he previously obtained BTC) that he claims to monitor. Mining is the name given to this confirmation method because it necessitates a lot of computing power and paying miners in BTC for each block solved.