shouldcreatecry

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Last Activity: May 7th, 2024 11:22 PM

About shouldcreatecry

Which games do you play?

What's the difference between an exchange and a broker? While both brokers and exchanges are places you can buy and sell cryptocurrency, they aren't exactly the same. An exchange is a platform where buyers and sellers set the prices, and the platform's job is to connect them. Meanwhile, when you buy from a broker, you're actually using a middle man to complete the transaction. The broker both buys and sells crypto, then sets the price they are willing to trade at based on market rates. While many of the services they offer overlap, and it's fine to use either, exchanges are typically used more by retail and long-term investors, while speculators and short-term investors tend to prefer brokers. Crypto should also be treated differently than safer long-term investments, like blue-chip stocks. "Don't put it in the Procter Gamble class. It's not Coca-Cola, it's not Apple," he says.

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