How to buy and sell Ethereum and other cryptocurrencies
Ethereum is a popular blockchain platform that allows developers to create decentralized applications (DAPP) and smart contracts. In addition to its native cryptocurrency, Ethereum (ETH), users can buy and sell other cryptocurrencies like Bitcoin (BTC). This article will explain how to buy and sell Ethereum and other cryptocurrencies.
Buy Ethereum:
The purchase of Ethereum implies the purchase of ether (ETH) from a digital exchange or a peer-to-peer market. Here is a step by step guide:
- Open a digital portfolio : You must create or have access to a digital portfolio compatible Ethereum, such as Metamask, Myetherwallet or Ledger Live.
- Find a reliable exchange or market : you can buy ETH via various exchanges like Coinbase, Binance, Kraken or others that support the Ethereum platform.
- Place a purchase order : Enter the ETH ETH amount to buy and specify the price you are ready to pay. The price can fluctuate depending on market conditions.
- Confirm the transaction : Check the details of your transaction, including the amount, the price and the costs.
Sell Ethereum:
The sale of ETH is similar to buy it, but upside down:
- Create a digital portfolio with an ETH address: you need a separate digital portfolio that allows you to receive ETH.
- List your ETH for sale on a scholarship or a market
: you can sell your ETH via various exchanges, such as Coinbase, Binance or others that support the Ethereum platform.
- Set a selling price : Determine the amount of ETH that you want to sell and at what price.
- Confirm the transaction : Check the details of your transaction, including the amount, the price and the costs.
The control correspondence engine:
The order correspondence engine is an essential element of the purchase and sale of cryptocurrencies. He is responsible for twinning the requests for buyer and seller for different quantities of cryptocurrency at the same time. Here’s how it works:
- The buyer sends a request
: When you place an ETH purchase order, you create a purchase request with the desired amount (for example, 10 ETH) and the price.
- The seller answers : The seller receives your purchase request and can either accept or reject it. If they accept, they refer a request for confirmation to the stock market, specifying their own amount of ETH to sell at the same price.
- Exchange matches requests : The order correspondence engine compares the buyer’s purchase request with the seller’s confirmation request for the seller. It then corresponds to the interests of the two parties and executes the transaction.
Additional considerations:
* Frais : Transaction costs vary depending on the exchange and the market. These costs are generally deducted from your ETH sold amount.
* Type of order : You can place different types of orders, such as market orders (buy or sell) or limit orders (fix a specific price to buy or sell).
* Time limits : Some exchanges impose time limits to buy or sell certain cryptocurrencies, so be sure to check the rules before placing an order.
In conclusion, the purchase and sale of Ethereum and other cryptocurrencies involve creating purchase and sale orders on a scholarship or a market. The control correspondence engine ensures that buyers and sellers are equaled at fair prices. Understanding the functioning of this process is essential to navigate the world of trading of cryptocurrencies.