What is the difference between exchanges and coins and cryptocurrencies?

What is the difference between exchanges and coins and cryptocurrencies?


⚡️ Distinguish exchange from coin
      Coins are electronic coins (virtual money, cryptocurrencies, technology money ...) issued outside, while exchanges are places for individuals - organizations to conduct trading, exchanging, maybe. store your e-wallet. It is common for people to pay attention to the TOP 100 Coin, and exchanges have centralized and decentralized exchanges.
  
⚡️Differences of cryptocurrency exchanges
      The importance of exchanges is indisputable, but should clearly distinguish the basic differences of the two types of cryptocurrency exchanges: centralized exchanges and decentralized exchanges.
👉 Centralized exchange: A popular online platform used to trade, trade, store virtual / legal currencies, or to trade different cryptocurrencies. Maybe the centralized trading platform as a financial management organization (3rd intermediary), users will keep their money information on the exchange, and the exchange will provide a range of services, security help. user.
👉 Decentralized trading floor: Transactions by peer mechanism, instead of through intermediaries, transactions are used through "smart contracts" and "atomic swap". This eliminates the involvement of 3rd parties and creates a "trustless" trading environment in a very smart way.
     This is a form of exchange being encouraged to use more in the cryptocurrency market.
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Charlie Vanauken
Charlie Vanauken

I'm a reader and an analyst, I love cryptocurrencies, I will try to help people understand more about cryptocurrencies.


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