How to Sell, Buy and Exchange Cryptocurrency

Written by Banks Editorial Team
3 min. read
Written by Banks Editorial Team
3 min. read

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Cryptocurrencies continue to gather attention for the value the market offers. New stories of cryptocurrency millionaires continue to break into 2022. But the opposite is true as well, as many crypto millionaires lose out from dangerous speculative activity.

Cryptocurrencies are notoriously volatile. They make and break people daily, presenting extraordinary opportunity and risk simultaneously.

If you want to get into the cryptocurrency market and start buying and selling Bitcoin and other digital assets, you likely have several questions, starting with how one buys and sells cryptos. So, this article aims to answer your questions, and it will cover:

  • How cryptocurrencies are bought, sold, and exchanged
  • Optimal cryptocurrency storage
  • How to earn more from crypto
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Get Started With Crypto Investing

Send, receive, and exchange Bitcoin and 200+ cryptocurrencies with ease on Exodus—the world’s leading Desktop, Mobile and Hardware crypto wallet.

How to Buy, Exchange, and Sell Cryptocurrency

Buying, selling, and exchanging cryptocurrency requires you to:

  1. Have a storage solution
  2. Use a cryptocurrency exchange OR buy and sell directly from others

Let’s break down how these processes work.

Use a Cryptocurrency Exchange 

Cryptocurrency exchanges function similarly to financial exchanges you may be more familiar with. For example, if you are considering buying stocks, you may first look at the New York Stock Exchange listings.

Cryptocurrency exchanges list current crypto prices and facilitate crypto transactions. Crypto exchanges typically also offer hosted wallets, and the most popular crypto wallets have built-in exchanges. That means you can store your cryptocurrencies through your account with them. 

When looking for a crypto exchange, you will want to consider:

  • The exchange’s fees
  • Cryptocurrencies offered on the exchange
  • Transactions enabled, ex. USD for BTC, BTC for other cryptos, etc.
  • The security measures taken by the exchange

All of these issues are critical. If you commit to one exchange, you will deal with these ongoing concerns. You don’t want to be spending too much on exchange services unknowingly. Worse yet, you don’t want your account hacked and assets stolen due to a lack of strong security. 

Sell Directly to Users 

Not all crypto transactions need to take place on an exchange. Selling directly (known as selling peer-to-peer in the crypto space) is also possible. If you know someone who has some cryptos that you want, you can arrange a transaction with them. You can use secure payment apps like PayPal or settle the transaction some other way.

If you don’t know anyone who has the cryptos you want but still want to bypass the exchanges, you can use a matchmaking service. These platforms help buyers find sellers and vice-versa. The two parties are then left to negotiate between themselves. This may help skip some exchange fees, but you will need to be more careful if you want a fair deal. 

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Get Started With Crypto Investing

Send, receive, and exchange Bitcoin and 200+ cryptocurrencies with ease on Exodus—the world’s leading Desktop, Mobile and Hardware crypto wallet.

Use a Crypto Wallet with an In-built Exchange

This option strikes a balance between the two above options. As cryptocurrency has developed as a technology and as a market, a new kind of exchange has emerged. Some platforms simultaneously function as cryptocurrency:

  • Wallets
  • Exchanges
  • Investments

A few platforms currently offer such a comprehensive service. Then, there are various lists of the services provided, as these are a newer kind of innovation in the crypto world.

One of the best examples of this kind of platform is Exodus. Exodus is a cryptocurrency wallet that also includes an exchange. The platform ultimately helps users store, buy, sell, and manage their crypto holdings. They offer over 100 currencies and enable your choice of secure storage method.

Exodus was designed to meet the needs of both crypto beginners and advanced investors and traders. Their interfaces are easy to use, but more advanced traders can also benefit from their features. And you can also sync the Exodus Desktop Application with your Exodus Mobile Wallet App to view and manage your account on the go.

Earn More from Your Cryptocurrency

Many of the features of traditional finance have been spilling over into the cryptocurrency world. One of the most exciting and profitable opportunities has been earning interest in crypto.

Cryptocurrency investors can earn passive income in one of two main ways:

  • Lending crypto to lending platforms and collecting part of the interest
  • Staking crypto on a variety of platforms for interest

This is another aspect of crypto where different platforms can offer widely differing opportunities and levels of service. Overall, passive earning opportunities provide much higher interest rates in crypto than in traditional finance. Interest rates vary depending on the crypto in question and the platform. 

Exodus offers passive income opportunities. Compared to other platforms, they make the process much simpler. All you need to do is choose the crypto you want to start earning. Depending on what that coin is, you can earn interest just for holding it in your wallet.

Most passive income opportunities in lending and staking require you to “lock in” the crypto you want to earn interest with. That is not the case with Exodus. All you need to do is have the crypto to start earning with their Earn Rewards App. 

If you want to earn more than you could by simply buying and selling for a profit, opportunities like this are your best option. You can get started with exciting opportunities to earn income from staking by signing up for Exodus now.

Exodus Crypto Wallet

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