What is the difference between a cryptocurrency exchange and a cryptocurrency exchanger?

Different specialists choose different sites depending on their specific goals, but there are also common features that are suitable for everyone.

A cryptocurrency exchange is a platform where traders can perform trading operations to buy and sell digital money. An exchanger is a service that offers to exchange coins using a more simplified procedure.

Crypto exchangers are guided by the exchange rate, which is available on popular exchanges. But they also add an extra charge to the main cost, an additional payment, which, in fact, pays for the work of the site. On average, the amount can vary from 2% to 10%, depending on how much you want to exchange. On exchanges, the commission is a maximum of 0.5-1%.

Exchangers, even Internet sites, work according to a certain schedule. Most often at night they are closed, have breaks and weekends. Registration on exchanges can take a very long time, so exchangers are contacted if necessary. Thus, it will not be possible to exchange currency urgently.

In the exchanger, you can only buy a limited number of coins. Exchanges have a reserve of funds that can be used if a trader decides to buy a large amount. Moreover, if bitcoins can still be purchased on the exchanger (on average, about 10 coins), then altcoins will be a maximum of a few coins of popular cryptocurrencies. If you want to buy a unique currency, then most likely you will be asked to wait a while until the site buys this coin. You need to understand that at the same time you yourself can have time to register on the exchange with an expanded number of altcoins.

Even with the minimum requirements for registration on exchangers, you still need to enter information about yourself there, as well as give an account number.