What is the purpose of Bitcoin exchanges?
James is a digital marketplace where traders can buy and sell bitcoins using different fiat currencies or altcoins. A bitcoin currency exchange is an online platform that acts as an intermediary between buyers and sellers of the cryptocurrency. The currency ticke
r used for bitcoin is either BTC or XBT.
Bitcoin currency exchanges work in a manner similar to banks. One first deposits amounts of money in the currencies supported by the exchange, to his own account in the exchange, uses these balances to trade with other users of the exchange and then withdraws that money.