In order to start buying and selling cryptocurrencies and other digital assets, the most common way is to transact with Crypto Exchanges. Cryptocurrency exchanges in Canada are privately-owned platforms that facilitate the trading of cryptocurrencies for other crypto assets, including digital and fiat currencies and NFTs.

1. Centralized or Decentralized
cryptocurrency exchange Canada?

2. In order to start buying and selling cryptocurrencies and
other digital assets, the most common way is to
transact with Crypto Exchanges. Cryptocurrency
exchanges in Canada are privately-owned platforms
that facilitate the trading of cryptocurrencies for other
crypto assets, including digital and fiat currencies and
NFTs.

4. Centralized cryptocurrency exchanges act as an
intermediary between a buyer and a seller and make
money through commissions and transaction fees. You
can imagine a CEX to be similar to a stock exchange but
for digital assets.
Popular Crypto Exchanges are Netcoins, Binance,
Coinbase Exchange, Kraken, and KuCoin.
Centralized cryptocurrency
exchanges (CEX)

5. Much like stock trading websites or apps, these
exchanges allow cryptocurrency investors to buy and
sell digital assets at the prevailing price, called spot, or
to leave orders that get executed when the asset gets
to the investor`s desired price target, called limit orders.

6. CEXs operate using an order book system, which means
that buy and sell orders are listed and sorted by the
intended buy or sell price. The matching engine of the
exchange then matches buyers and sellers based on the
best executable price given the desired lot size.
Therefore, the price of a digital asset depends on the
supply and demand of that asset and other assets.
Since the CEX determines which digital assets can be
traded, it provides some comfort that unscrupulous
digital assets can be excluded from the CEX.

7. A decentralized exchange is another type of exchange
that allows peer-to-peer transactions to be conducted
directly from a digital wallet without going through
intermediaries. Examples of DEXs include Uniswap,
PancakeSwap, dYdX, and Kyber.
Decentralized Cryptocurrency
Exchange (DEX)

8. These decentralized exchanges rely on smart contracts,
which are self-executing codes on the blockchain. These
smart contracts allow for more privacy and less slippage
than a centralized cryptocurrency exchange.
On the other hand, even though smart contracts are
rules-based, the lack of an intermediary third party
means that the user is left to their own devices, so DEXs
are meant for sophisticated investors.

9. One of the perks of trading cryptocurrency is that you can
buy it whenever you want. But many investors buy and sell
cryptocurrencies during the same hours that the New York
Stock Exchange (“NYSE”) is open. But since you can buy and
sell crypto at all hours of the day, you`ll need to know which
hours are better for buying cryptocurrency. If you analyze
several months of data, you will start to notice daily trends.
Focusing on cryptocurrencies with high market caps such as
Bitcoin, Ethereum, and Solana can help new investors
identify the best times of the day to trade, as crypto prices
tend to rise and fall simultaneously.
Best Time of the Day to Buy
Cryptocurrency

10. Read more on: How to Buy SOL in Canada
Experts say the best time to buy crypto is early morning
before the NYSE opens. Trends can vary from coin to
coin, so check for small daily fluctuations in other
cryptocurrencies.
SOURCE CREDIT:
https://vancouvercryptoexchange.wordpress.com/2022
/12/20/centralized-or-decentralized-cryptocurrency-
exchange-canada/

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