Cryptocurrency Exchanges Explained

Cryptocurrency exchanges are online platforms where you can exchange one cryptocurrency for another cryptocurrency or buy cryptocurrency of your choice. Cryptocurrency exchanges work in a manner similar to banks. Communication with the Cryptcurrency exchanges is commonly done using a standard web browser, over a secure SSL connection (https).

Type of Exchanges

1. Traditional Cryptocurrency Exchanges: These are the exchanges that are like the traditional stock exchanges where buyers and sellers trade based on the current market price of cryptocurrencies (with the exchange playing the middle-man). These type of trading platforms generally take a fee from each transaction. Some of these exchange types also allow users to convert fiat currency like the AU dollar into cryptocurrency like Bitcoin, Ethereum, Ripple, DAsh and other at the market price. Coinspot is an example of this type of exchange.

2. Direct Trading Exchanges: These platforms offer direct peer-to-peer trading between buyers and sellers. Direct trading exchanges don’t use a fixed market price. Sellers set their own exchange rate.

3. Cryptocurrency Brokers: These are website-based exchanges that are like the currency exchange at an airport. They allow customers to buy and sell cryptocurrencies at a price set by the broker (generally at the market price plus a small premium). Coinbase is an example of this type of exchange.

4. Cryptocurrency Funds: Funds are pools of professionally managed cryptocurrency assets which allows public buy and hold cryptocurrency via the fund.

Global Best Crypto Exchange


Binance is the fastest growing exchange for trading cryptocurrencies. In the short duration, it has reached the 2nd position among the top volume cryptocurrency exchanges. Binance is an exchange that operates in many countries around the globe.


Bleutrade is a cryptocurrency exchange that offers spot trading in a fairly wide selection of cryptocurrencies: Bitcoin, Ether, Litecoin, Dash, Dogecoin, Bitcoin Cash, Bitcoin Gold, Name Coin and a whole lot of other more obscure tokens, a total of 55 cryptocurrencies and 1485 pairs.


Livecoin is a Bitcoin and altcoin exchange platform that offers many currency pairs, including trading altcoins for FIAT currency. The exchange was founded in 2013, by DELTA E-COMMERCE LTD from London, UK.


Bitlio is a secure platform providing a variety of services based on the state-of-the-art digital currency, bitcoin. Their user-friendly platform is available in nearly 40 countries worldwide, allowing customers to trade different alt coins.