Best crypto investment Canada, Best cryptocurrency
How does a cryptocurrency work in Canada?
If you are going to be a cryptocurrency investor, first understand how cryptocurrency works in the real world. And know about the Best crypto investment Canada.
Buy and sell cryptocurrency on the crypto exchange
A crypto exchange is an online platform where you can exchange your Canadian dollar and get crypto. You can also exchange one crypto for another. You can use your credit card, Paypal, ATM, etc. to buy or sell crypto. The market of crypto exchanges can be of three different types centralized, decentralized, and hybrid exchanges.
Top crypto exchanges in Canada
The top crypto exchanges in Canada are:
Centralized exchanges or CEX
Centralized exchanges or CEX are just like traditional stock exchanges. Investors can give money to CEX and order crypto. The exchange also finds a seller or buyer to fulfill the order. CEX charges trading fees and stores your crypto on the exchange. CEX is centralized and the investors need to use a middleman, that defeats the USP of cryptocurrency. In this, security is also a problem as third-party have your private information. CEX is secure and many big crypto exchanges like Gemini, Robinhood, and Coinbase, are centralized exchanges.
Decentralized exchanges or DEX
A decentralized crypto exchange involves no middleman. It is a platform where buyers and sellers exchange crypto directly. The third party has no private information. They find a buyer and seller for the crypto and investors pay a lesser fee. But in DEX, finding a buyer or seller takes some time. If an investor is trying to sell crypto quickly, then it may not happen.
Hybrid exchanges have the positives of CEX like speed and efficiency and positives of DEX such as security and privacy. The investors have full control of their assets and can also take advantage of price movements. Since hybrid exchanges are a new concept, there are very few. The biggest hybrid exchange is Qurrez.
The investors manage their crypto, send and receive the best cryptocurrency in a Crypto wallet.
Professional at CIC keep a close eyes on the market and are determined to give our viewers and members the insight of the market using our analysis and thus assisting our members to score well on the crypto charts.