There are four main ways to buy and sell Bitcoin: 1. Through centralized exchanges; 2. Through decentralized exchanges; 3. Through over-the-counter transactions; 4. Through brokers.
There are several main ways to buy and sell Bitcoin:
Through centralized exchanges
Centralized exchanges are currently the most common way to trade Bitcoin. Centralized exchanges are similar to stock exchanges and are operated by a company that is responsible for matching both parties to trade. Centralized exchanges usually provide higher liquidity and lower transaction costs, but at the same time there are certain risks, such as platform leaks, hacker attacks, etc.
Some well-known centralized exchanges include:
Binance
Huobi
OKX
Decentralized exchange is a new type of exchange that does not rely on any centralized institution but conducts transactions on the blockchain through smart contracts. Decentralized exchanges have higher security and transparency, but they also have problems such as low liquidity and high transaction costs.
Some well-known decentralized exchanges include:
OTC trading means that both parties to the transaction conduct transactions directly without going through an exchange. OTC transactions usually provide more flexible prices and trading methods, but they also involve certain risks, such as counterparty default, fraud, etc.
Some well-known OTC trading platforms include:
Bisq
Some brokers also offer Bitcoin trading services. Brokers usually provide higher security and customer service, but there are also issues such as higher transaction costs.
Some well-known brokers offering Bitcoin trading services include:Robinhood
Webull
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