Cryptocurrency exchange

Currently, there are several options available for purchasing digital currencies. It can be a crypto exchange, various services, and, of course, a P2P cryptocurrency exchange. How does such an exchange work? You find a person or an exchanger who is ready to sell their coins for UAH, agree on the terms, and carry out the transaction.

You can try to find such a person or service on your own, but it takes time and can be inconvenient. Moreover, you never know if the resource is reliable or if it's a scam (unfortunately, there are many scams nowadays). That's why we offer a great alternative – to use Obmify. On our website, we only have verified services that are guaranteed to be safe because we manually verify each of them. Simply choose the desired exchange pair, and we will automatically provide you with a list of resources that can perform the exact exchange you need. You just have to choose the best exchange rate from the available offers. Convenient, isn't it?

There are three main methods:

1. Hot wallets: These are cryptocurrency storage programs that are connected to the internet. For example, mobile wallets like Trust Wallet or wallets that could be downloaded for computers like Exodus.
2. Cold wallets: These are devices for storing cryptocurrencies that are not connected to the internet. They are less susceptible to remote hacking. Cold wallets typically come in the form of USB drives or hardware devices such as Trezor or Ledger.
3. Crypto exchanges: These are online platforms that allow buying, selling, and storing cryptocurrencies, as well as conducting exchanges. Some of the popular exchanges available to Ukrainian users include Binance, Kraken, and Coinbase. It's worth noting that storing crypto on crypto exchanges may not be the safest option as crypto exchanges and their systems can be vulnerable to cyberattacks, audits, etc.

A less common option is mobile banking with cryptocurrency support, such as Revolut or Wirex. However, these options may not be available to Ukrainians, unless they currently live in Europe.

Depending on where you store your cryptocurrency, there are the following options to exchange crypto:

1. P2P exchange if your coins are stored on the crypto exchange.
2. Transaction through online exchangers, which can be found and compared on Obmify.

Of course, it is also possible to find a person or an online resource that can sell you cryptocurrency for cash on your own. Still, you will have to verify the safety and reliability of the service by yourself, which takes a lot of time. At Obmify, this has already been done for you. The list of crypto exchangers you see on our pages has already been manually verified for safe exchanges. This is our main advantage.

Additionally, Obmify has a rating of exchange points. After completing an exchange, you can leave feedback about the online exchange.

With our platform, you can convert cryptocurrency into foreign currency, UAH, or perform a bank transaction to your account or card.

There are many services where you can check the current price of each coin online before buying or selling. For example, crypto.com, coinmarketcap.com, and coindesk.com. Also, if you use crypto exchanges, you can obtain the current value of digital assets through their interface.

Among all coins that exist today, only a portion of them are stablecoins, which means they are tied to a specific fiat currency. For example, USDT, USDC, BUSD, DAI, and so on. They are all valued at the same rate as the regular US dollar. That's why they are called stablecoins, as they aim to maintain stability. Stablecoins are actively used in trading when there is a need to lock in profits.

The rest of the cryptocurrencies are quite volatile coins, meaning their exchange rate often changes rapidly. If you invest in such coins with the goal of earning profits, you need to stay up to date, be online, and monitor their prices. This helps you quickly assess the situation and make decisions – whether to make an exchange, sell or buy a particular coin.

Since we are talking about personal finances, such information is quite subjective. We encourage each trader to independently analyze the market and select coins for their investment. The most popular cryptocurrencies for investment in 2023 are:

• BTC - Bitcoin
• USDT - Tether – as it is a stablecoin, this coin is needed not for investment but for purchasing other coins
• ETH - Ethereum
• XRP - Ripple
• XMR - Monero

However, this list is constantly changing and expanding, just like the list of available exchange pairs on Obmify.

We wish everyone successful and secure exchanges!