Exchange Rules
Cryptocurrency exchange services are digital platforms where people can buy, sell and exchange cryptocurrencies.
There are several types of exchange on cryptocurrency exchange services:
- Cryptocurrencies exchange for other currencies.
- Currency exchange for cryptocurrencies.
- Exchange of cryptocurrency for cryptocurrency.
Before you can exchange cryptocurrencies, you need to complete the next general steps:
- Choose a cryptocurrency exchange platform. Do your research and choose a platform that meets your requirements. Take a look at the rating of the service, customer reviews, as well as its reputation on the market. All these things can be viewed both on the website and on specialized resources which collect all the information about exchangers.
- Register and create an account: after you have chosen an exchange platform, register your account by providing the necessary information.
- Confirm your identity: some platforms require users to confirm their identity before they can start trading. Follow the instructions to complete this process. Generally, one of the safest checks is verification. A lot of cryptocurrency exchanges requests bank card verification, not identity verification.
- Make deposits: after verifying your identity, deposit funds on your account via credit/debit card, bank transfer, or other method supported by the platform.
- Choose cryptocurrencies to exchange: choose which cryptocurrencies you want to exchange and the amount you want to exchange.
- Place an order on the exchange platform, specifying the amount and price of the cryptocurrency you want to exchange.
- Execution of the exchange. Once your order is matched with a buyer or seller, the exchange will be done automatically. The exchanged cryptocurrencies will be transferred to your account.
- Withdrawing funds. If you want to withdraw your funds, you can do so by transferring them to your bank account or using other supported payment methods.
The same exchange process takes place on crypto-exchangers, which developed by Exsoft team. Adhering to all these rules of exchange, each of your clients will be able to successfully make an exchange on the site.
From the process of applying for exchange, to its execution, the client of the service will see instructions and prompts to perform certain actions (steps) that will allow to successfully buy or sell crypto without the help of a manager. Also, if you wish, you can separately describe these rules (algorithm of exchange execution) and add their separate items to your website.
How to correctly exchange cryptocurrency?
It is very easy with a reliable digital asset exchange service. Of course, each service has its own rules, which are called "exchange regulations", which you should study before you decide to make an exchange. It is in these rules that the administration usually specifies all the key points, namely:
- time of rate fixation (some exchange services have rate fixation at the time of application, while other exchange services fixate the rate at the time of full payment on the application);
- refund rules in case of refusal to exchange (some exchangers pay the refund within an hour, but as a rule, most exchangers pay the refund within 24 hours from the moment the refund was requested);
- The schedule of technical support (you need to study this carefully to protect yourself and get all the answers to your questions. Usually tech support is available 24 hours a day)
Remember always to be careful when exchanging cryptocurrencies, as the market is very volatile and unpredictable. Before investing or trading in cryptocurrencies, highly recommended to research and understand the risks involved. Only then will your exchange be successful and enjoyable.
