A crypto exchange acts as the intermediary between a seller and a buyer or, in cryptocurrency language, between a “maker” and a “taker.” A bitcoin exchange works like a brokerage, and you can deposit money via bank transfer, wire, and other common means of deposit.
Glossary Term used in a sentence
‘’Essentially, cryptocurrency exchanges assist traders in acquiring or selling their bitcoin holdings.’’
‘’There are a lot of cryptocurrency exchanges out there, but just a few that we think make sense for long-term crypto investors.’’
‘’If you live in the United Kingdom and want to trade Bitcoin, you’ll need to open an account with a reputable UK crypto exchange.’’
History of exchanges
Currently there are a lot of options for converting our cryptocurrency to fiat money and vice versa, but this was not always the case. In the early days, October 12 2009; New Liberty Standard buys a total of 5.050 BTC from Sirius for $ 5.02 using PayPal, which is the first transaction via an exchange. For further research regarding the history of exchanges read the following article