{"headers":{"Content-Type":"application\/x-www-form-urlencoded"},"body":"source_lang=&target_lang=PT-PT&tag_handling=xml&split_sentences=1&preserve_formatting=1&text=What+is+a+cryptocurrency+exchange+and+how+do+they+work%3F&text=In+this%2C+we+explore+the+definition+of+a+cryptocurrency+exchange+while+looking+at+what+the+different+kinds+of+exchanges+are.&text=The+scene%3A%0A%0AYou%27re+about+to+embark+on+a+cryptocurrency+journey+and+are+looking+to+buy+your+first+digital+tender.%0A%0AYou%27ve+done+the+research+and+know+which+tokens+tickle+your+fancy+and+have+decided+on+the+one.+Now+you%27re+ready+to+buy.%0A%0AExcept+you%27re+not.+Not+yet.%0A%0AYou+see%2C+you+might+have+decided%C2%A0%3Cem%3Ewhat%3C%2Fem%3E+to+buy%2C+but+you+haven%27t+decided+%3Cem%3Ehow%3C%2Fem%3E+or+%3Cem%3Ewhere%3C%2Fem%3E+to+buy+it.%0A%0AThe+how+and+the+where+are+wrapped+up+in+one+neat+bundle%3A+cryptocurrency+exchanges.%0A%3Ch2%3EWhat+is+a+cryptocurrency+exchange%3F%3C%2Fh2%3E%0ACryptocurrency+exchanges+are+like+cryptocurrency%27s+version+of+a+stock+exchange%3B+buyers+and+sellers+are+offered+a+%3Ca+href%3D%22https%3A%2F%2Fwww.coininsider.com%2Fpt-pt%2Fplataformas-de-comercio%2F%22%3Eplatform+to+trade%3C%2Fa%3E+different+assets+which+with+their+valued+based+on+the+current+market+prices.+Typically%2C+the+exchanges+offer+conventional+fiat-to-crypto+transactions+as+well+as+offering+crypto-to-crypto+trades.+For+example%2C+on+South-African+based+exchange+%3Ca+href%3D%22https%3A%2F%2Fwww.coindirect.com%2F%22%3ECoindirect%3C%2Fa%3E%2C+a+customer+can+buy+Bitcoin+with+South+African+Rand+or+Euro+or+can+trade+their+Bitcoin+for+Ripple%27s+XRP.%0A%3Ch2%3EWhat+are+the+types+of+exchanges%3F%3C%2Fh2%3E%0AThere+are+three+types+of+cryptocurrency+exchanges%3A%0A%0A%3Cb%3ETrading+Platforms%3A+%3C%2Fb%3EPlatforms+which+connect+buyers+and+sellers+to+one+another.%0A%0A%3Cb%3EBrokers%3A+%3C%2Fb%3EPlatforms+which+sell+cryptocurrencies+at+a+price+set+by+the+broker.+These+acts+similarly+to+service+providers+dealing+with+Forex.%0A%0A%3Cb%3EDirect+Trading%3A+%3C%2Fb%3EPlatforms+which+offer+direct+peer-to-peer+%3Ca+href%3D%22https%3A%2F%2Fwww.coininsider.com%2Fpt-pt%2Fbitcoin-profit%2F%22%3Etrading%3C%2Fa%3E.+This+allows+users+to+exchange+currencies+across+the+world+and+the+seller+and+buyer+settle+on+a+price.%0A%3Ch2%3EWhat+are+the+requirements+for+cryptocurrency+exchanges%3F%3C%2Fh2%3E%0AIn+order+to+be+allowed+to+exist+and+operate%2C+a+cryptocurrency+exchange+needs+to+adhere+to+the+laws+of+the+country.+These+laws+differ+from+country+to+country+but+generally+follow+regulations+related+to+the+protection+of+the+customer.%0A%0ATwo+of+these+are+important+in+most+countries%3A%0A%3Cul%3E%0A+%09%3Cli%3EAnti-money+laundering+%28AML%29+laws%3B+and%3C%2Fli%3E%0A+%09%3Cli%3EKnow+your+customer+%28KYC%29+laws.%3C%2Fli%3E%0A%3C%2Ful%3E%0AAML+laws+exist+to+prevent+any+illegal+activity+related+to+money+coming+across+as+legitimate.+KYC+laws+are+to+ensure+that+a+platform+such+as+an+exchange+know+who+they+are+dealing+with%3B+to+protect+existing+customers%2C+the+business%2C+and+the+integrity+of+a+business+transaction.+This+is+a+little+like+having+a+credit+score+-+whereby+the+banks+trust+an+individual+because+they+have+built+up+credibility.%0A%0AIn+order+to+regulate+this%2C+most+exchanges+ask+traders+and+users+to+link+their+account+on+the+platform+to+their+own+personal+bank+account.+Firstly%2C+this+helps+create+a+place+from+which+fiat+currency+can+be+sent+and+received.+Secondly%2C+it+helps+verify+a+person%27s+identity+and+credibility.%0A%3Ch3%3EWhat+is+a+decentralized+cryptocurrency+exchange%3F%3C%2Fh3%3E%0AThere+are+two+types+of+cryptocurrency+exchanges%3A+Traditional+exchanges+and+decentralized+exchanges.%0A%0AA+decentralized+exchange+aims+to+operate+without+any+central+governing+figure.+This+means+that+the+platform+is+run+on+a+blockchain+which+doesn%27t+hold+any+assets%2C+information%2C+or+data+but+allows+transactions+between+users+to+take+place.+By+using+smart+contracts%2C+a+decentralized+exchange+generates+something+called+%22proxy+tokens%22+which+stand+in+to+represent+an+asset+which+offers+the+opportunity+of+trading+between+users.%0A%3Ch3%3EWhat+are+the+biggest+cryptocurrency+exchanges%3F%3C%2Fh3%3E%0AAt+the+time+of+writing%2C+the+biggest+cryptocurrency+exchanges+in+terms+of+the+market+cap+according+to+%3Ca+href%3D%22https%3A%2F%2Fcoinmarketcap.com%2Frankings%2Fexchanges%2F%22%3ECoinMarketCap%3C%2Fa%3E+are+as+follows%3A%0A%3Col%3E%0A+%09%3Cli%3ELBank%3C%2Fli%3E%0A+%09%3Cli%3EBinance%3C%2Fli%3E%0A+%09%3Cli%3EBit-Z%3C%2Fli%3E%0A+%09%3Cli%3EBW%3C%2Fli%3E%0A+%09%3Cli%3EOKEx%3C%2Fli%3E%0A%3C%2Fol%3E%0AThe+cryptocurrency+exchanges+with+the+most+markets+offered+by+the+platform+according+to+%3Ca+href%3D%22https%3A%2F%2Fcoinmarketcap.com%2Frankings%2Fexchanges%2F%22%3ECoinMarketCap%3C%2Fa%3E+are+as+follows%3A%0A%3Col%3E%0A+%09%3Cli%3EHitBTC%3C%2Fli%3E%0A+%09%3Cli%3EYoBit%3C%2Fli%3E%0A+%09%3Cli%3EBinance%3C%2Fli%3E%0A+%09%3Cli%3EHuobi+Global%3C%2Fli%3E%0A+%09%3Cli%3EKuCoin%3C%2Fli%3E%0A%3C%2Fol%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