WhiteBIT: a User-Friendly Cryptocurrency Exchange

Cryptocurrencies are not issued by central banks and not regulated by the government, which is why their prices are so unstable. Increased volatility of crypto rates opens a space for generating income, playing on the price differences. That is the essence of trading – to exchange cryptocurrency and make a profit amid price fluctuations. Many strategies were developed for this unstable crypto market – daily trading, buy-and-hold, scalping, etc. The core of these strategies is buying and selling digital assets with a profit during different time frames, sometimes even using several platforms.

In this article, we will discuss the types of crypto platforms and mention the most convenient cryptocurrency exchange for beginner users.

The Types of Exchanges

All crypto platforms are divided into two types:

  1. centralized exchanges (CEX)
  2. decentralized platforms (DEX).

It becomes clear from the name that centralized platforms have a central regulatory body that keeps track of transactions and does not allow for illegal activities.

On the one hand, CEX requires users’ personal data, which might not suit some users. On the other hand, without checking every client, achieving a high level of protection would be impossible.

CEX usually offers a full set of tools for trading, a variety of crypto pairs, average prices and low fees. CEX allows an extended list of features for registered and verified users and a restricted version for those who refuse to pass verification. Both options are available.

Decentralized platforms have no central regulatory body to monitor transactions; thus, they cannot promise users security and transaction safety.

On DEX, people exchange cryptocurrency directly from their wallets at their own risk. DEX provides limited functions for trading compared with a full range of CEX tools. Besides, a decentralized cryptocurrency exchange may be somewhat complicated for a beginner user. CEX is much more user-friendly and intuitive in this sense.

The WhiteBIT crypto exchange is a young platform of the centralized type that offers robust security for users and their investments, holding 96% of assets offline. The platform is popular among beginner traders, who truly appreciate its transparency and user-friendly interface from the first try. Besides, WhiteBIT has a customer support chart that helps solve all the difficulties you might face when using the exchange.

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