What is the purpose of Bitcoin exchanges?
Anthony stages match buyers with sellers. Similar to an old-style stock exchange, traders can opt to buy and sell bitcoin by entering either a market order or a limit order. When a market order is particular, the trader is allowing the exchange to trade his coins for the best obtainable price in the online marketplace. With a breaking point request set, the dealer guides the trade to exchange coins at a cost under the current ask or over the current offer, subject to whether they are purchasing or selling. To transact in bitcoin on an exchange, a user has to register with the exchange and go through a series of confirmation processes to check his or her identity. Once the authentication is successful, an account is opened for the user who then has to transfer funds into this account before he or she can buy coins...