Last updated on March 19th, 2023 at 04:41 pm
Cryptocurrency exchanges are very successful with users of digital currency systems. An exchanger is a specific service that provides assistance for transferring stocks from different payment systems. Every service requires a payment for its help and presents its cryptocurrency charges for the exchange.
Overview of exchangers and how they work
Each cryptocurrency exchanger works according to the following principle; two accounts are involved in the exchange:
- the contractor
- the customer
The customer transfers a certain amount in one currency to the contractor’s account, after which the contractor transfers the converted equivalent in another currency to the customer’s account.
To make an eth to tfuel exchange, you need to know the main tasks of the owners of modern exchangers, which are high speed, security of exchange operations, and the most simplified use of their services by clients. If the exchange of currencies will require a large number of steps in a strict sequence, no one will use such a service.
Reliable and trusted cryptocurrency exchangers can be found on the best change monitoring, where there is also a rating of exchangers based on truthful user ratings. The services are supported by official representatives, each
of whom is interested in the positive reputation of their company. This guarantees the efficiency and security of every exchange transaction.
Cryptocurrency exchangers and exchanges: the main differences
Most often, cryptocurrency exchangers are used precisely for the quick cashing. But it is better to enter this market through cryptocurrency exchanges, where you may make a versatile exchange at more favorable rates. Unlike exchangers, on the exchange, the user’s funds are deposited into a personal account, and it takes much longer to withdraw them.
To create an account and transactions on a cryptocurrency exchange, mandatory registration is required. It is not necessary to register on the sites of exchangers, it is enough to indicate some data about yourself when exchanging e-mail, in some cases you will need a phone number and full name). Registration on the exchanger’s website still provides a number of advantages – participation in the loyalty program (all exchanges are summed up and bonuses are provided), the referral system (if any).
Unlike exchangers, where only the top currencies in terms of capitalization can be exchanged, the choice of crypto instruments on exchanges is much wider. Many popular exchanges work with ICO tokens, which is not available to any of the exchangers.
How not to lose money on cryptocurrency exchanges
In addition to trusted and reliable exchangers on the market for transactions of this type, there are scammers who, having received the amount to be executed, simply evaporate with the customer’s money and stop responding to any messages. Most often, those come across among private exchange offices – they do not have a website and agree to exchange via messengers:
The cybercriminals promise an exchange at the most favorable rates, come up with all sorts of promotions and bonuses, in general, they do everything in order to lure out of potential victims their hard-earned money.
In order not to become a victim of fraud when exchanging cryptocurrencies, you must never lose your vigilance. You should not be led to private offers for a profitable exchange in messengers, especially if the money changer himself knocked on you. You should make an exchange only on trusted sites, for example, those that are presented on the largest exchange monitoring best change. Switching to exchange services from this eliminates the risks of running into a “fake” page and losing your money.