Exchange Archives - MKTPlace https://mktplace.org/tag/exchange/ all about trading, Fintech, Business, AI & technology in one place Wed, 01 Nov 2023 13:30:14 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.2 https://mktplace.org/wp-content/uploads/2021/03/favicon.png Exchange Archives - MKTPlace https://mktplace.org/tag/exchange/ 32 32 Exchange Monero (XMR) to Bitcoin (BTC) https://mktplace.org/exchange-monero-xmr-to-bitcoin-btc/ Wed, 01 Nov 2023 13:30:14 +0000 https://mktplace.org/?p=48400

Photo by Kanchanara on Unsplash

When exchanging Monero (XMR) for Bitcoin (BTC), you should know that a financial transaction can be performed differently. But which method will be the best and most profitable? Practice shows that users often use one solution. They exchange Monero (XMR) to Bitcoin (BTC) through electronic exchangers, selecting performers on the profile monitoring portal BestChange. Why are other methods much less often chosen? This should be understood by considering the features of each option:

  • Crypto exchanges – working with exchanges is unprofitable due to high commissions. Plus, users must undergo verification, place orders to exchange funds, wait for them to be executed, and this is a waste of time. To speed up the exchange, you must give in to the course. Not every user is willing to wait that long;
  • P2P platforms. Here, the exchange is carried out between private individuals. Therefore, to convert the Monero cryptocurrency into BitCoin cryptocurrency, you must wait for a counteroffer that suits the terms. It is not known how long to wait. Therefore, this option is not suitable for those who want to make the exchange quickly;
  • Telegram bots. Among the mentioned services, there are many scam projects. Finding a reliable service provider is almost impossible. Plus, exchanges are often made at unfavourable rates, with inflated commissions;
  • Private money changers. Many scammers are also among them, and the exchange conditions cannot be called favourable.

Now, it’s clear why users prefer to exchange Monero for Bitcoin through electronic exchangers. When selecting a service provider on the monitoring portal and listing reliable e-exchangers at bestchange.com, you can be completely confident in its reliability because all services undergo a thorough check for transparency of activities. Also, when working with exchange services, you will be able to note several additional advantages, in particular, the following:

  • current conversion rates;
  • large reserves of USD;
  • the ability to conclude small and large transactions;
  • fast exchange;
  • the ability to fix the rate upon request;
  • There is no need for mandatory verification.

And, being confident in the correctness of the decision regarding the choice of currency exchange method, it remains to understand the procedure for concluding a transaction in more detail. There are no complications here.

How to exchange currency through an exchanger

Having selected a suitable exchange offer, you must go to the contractor’s website and carefully read the rules, focusing on all the essential points. Next you need to do this:

  • enter the requested data in the application;
  • check the accuracy of the information;
  • agree to the rules of the exchanger;
  • confirm the application;
  • contact the service operator to get a wallet number for transferring Monero cryptocurrency;
  • pay the application within the period specified by the rules.

Next, your BTC will be topped up with the equivalent in USD. Replenishment often occurs within an hour. However, if the exchange service is overloaded with applications, the transfer can be completed within the maximum period specified in the rules. Usually, it is 24-72 hours.

How to avoid problems when converting currencies

If you want your currency exchange to be quick, easy and smooth, you need to follow a few simple guidelines:

  • fill out the application correctly, excluding errors;
  • transfer to the wallet of the exchange service precisely the number of digital coins that was indicated in the form;
  • comply with application payment deadlines.

As for the monitoring portal, where you can select a service provider, you can earn extra money using the affiliate program on the www.reddit.com/r/bestchange/. It provides a financial reward for each user attracted to the site. This will be a pleasant bonus to the possibility of organizing a profitable and safe financial transaction.

]]> How Do Central Banks Affect Exchange Rates https://mktplace.org/central-banks-affect-exchange-rates/ https://mktplace.org/central-banks-affect-exchange-rates/#respond Mon, 09 Feb 2015 17:00:56 +0000 http://www.tradersdna.com/?p=32945

We all know that central bank decisions are some of the most influential occurrences on the forex markets, but how do the actual mechanics work? When the Bank of Japan lowers interest rates, the SNB stops buying Euros, or the ECB starts buying bonds, what’s going on?
Here we’re going to have a look at the basic mechanics that cause central bank decisions to hit the forex markets. The important thing to remember is that old solid Supply and Demand. Currencies trade based on this in the same way as any other commodity. Central Banks have to affect on, the other or both in order to change exchange rates.

Interest rate changes
Back before 2008 central bank’s simply wouldn’t attempt to intervene overbearingly in markets and interest rate changes were the only likely outcome of a meeting of the Federal Reserve. When the Federal Reserve changes its interest rate, it changes the relative benefit of keeping money in one currency instead of another.

If the central bank increases the interest rate, bank rates and bond rates in the United States tend to go up. If everything else remains equal the US dollar is more attractive to hold that the euro or yen and money begins to flow into the country’s investments.

Basically the price of the currencies with higher interest rates will go up until no more money can be made through simple transfers. On the financial markets, as you can see after major interest rate decisions are made, this happens almost instantly.

Direct market intervention
This is the actual buying and selling of currencies by central banks designed to influence exchange rates. At its simplest level it involves affecting the demand for one currency in another by central bank intervention. It can take several different forms in specific cases, however.

The best example in recent years has been the intervention of the Swiss National Bank which set the maximum exchange rate at 1.2 Franc to the Euro in 2011. The central bank kept its currency low against the euro by printing francs and using them to buy euros, meaning there would always be infinite supply of Francs at that level and none above it. Nobody is going to sell 1.3 francs for a euro when the central bank is selling them at 1.2.

This, of course, was risky for the Swiss National Bank and was a last gasp policy designed to reduce the impact of serious deflation brought on by a flight to safety during the financial crisis.

The other, more common side of direct intervention is propping up a currency: a practice Russia attempted sporadically through 2014. This involves buying your own currency with the central bank’s foreign currency reserves. This is an unstable practice that can result in the bank running out of reserves, and the weakening of the currency accelerating as a result.

Quantitative easing and other innovations
Less understood than direct intervention because of its novelty, QE involves printing currency in order to buy securities, i.e. bonds and equities. The US began doing this several years ago and was followed by the ECB, the BoE and the BoJ. The way it affects currencies is still debatable, but the central theory references two factors: increase in currency supply and lower interest rates.

Buying US treasuries at such a level means that yields fall substantially, lowering demand for the dollar to buy them in and having a knock-on effect on interest rates across the economy, and having the same effect, at one level, as a change in interest rates.

Increasing the money supply by such a margin, 60 billion euro in the case of the ECB program, every month creates a downward pressure on the price of the currency compared to others.

This has been the basic effect of easing programs in the US, Japan and the UK, but the ultimate result of the European program remains to be seen. Further study as central bank innovations keep popping up will result in greater understanding of these mechanics.

Predicting movement

The above gives an outline of the mechanics that central bank decisions drive on the market, but there’s so many factors affecting the supply and demand for currencies that none is a guaranteed bet. Take any currency chart and look at it through the last seven or eight years to get an idea of the unpredictable volatility that drives forex at certain points in time.

Knowing is half the battle, however, so getting used to the way that central bank decisions are made, and learning about these mechanics and the decision making apparatuses behind them will put you ahead of the average market participant and give you insight into the more complicated derivative results of central bank intervention.

]]> https://mktplace.org/central-banks-affect-exchange-rates/feed/ 0 What is a Bitcoin Exchange? https://mktplace.org/bitcoin-exchange/ https://mktplace.org/bitcoin-exchange/#respond Thu, 02 Oct 2014 06:00:02 +0000 http://www.tradersdna.com/?p=32180

Bitcoin currency exchange operates in a similar way to banks. Just like in a bank, you have to deposit a certain amount of money in your account, but in this case the money you deposit should be in a currency or currencies which the exchange supports. The person depositing the sum of money would then on his own account use that currency to engage in trading with thousands of other traders on the market who are also registered on the exchange. After a profit is made, the user withdraws his money and comes back to trade another day.

Unlike traditional trading transactions, when you talk about making a currency or rather cryptocurrency trade on Bitcoin exchanges, there are no immediate risks of losing money because other traders haven’t stood up to their part of the deal. You will only stand to lose money if the Bitcoin exchange itself is involved in fraud or some other legal issues.

Exchanging is initiated by placing either “buy” or “sell” orders. These orders are then matched with other orders via the exchange system. ‘Buy’ orders are also known as bids and are offers to buy a certain number of Bitcoins. “Sell” orders are referred to as ‘asks’ where a trader offers to sell his Bitcoins for a minimum price per Bitcoin in the market. If the buy price of a buy order is more than the ask price of the sell order, a digital currency exchange is established and both bid and sell orders can be eliminated from the ‘order book’.

Thus, at each given moment, a price exists over which there can be no more buy order and a little higher price over which there can be no further sell orders. These transactions and further communication via the Bitcoin exchanges is done mainly through traditional web browsers which have a secure SSL connection.

Payment Methods Commonly Accepted by Most Bitcoin Exchanges

  • Bitcoin transfers
  • Liberty Reserve
  • Bank wires
  • Credit cards

Currencies Exchanged via Automation on Bitcoin Exchange

  • US Dollars
  • Euros
  • Japanese Yen
  • Russian Rubles
  • Pound Sterling
  • Pecunix Gold

Soft Currencies & Chargeback

It is important to understand that exchanging a cryptocurrency like Bitcoin for other types of currencies could lead to some issues pertaining to chargeback fraud. Particularly, automated payment methods like credit cards and payment gateways, such as PayPal, through which you can get a 90-day chargeback facility after the transaction is done.

On the contrary, Bitcoins are considered a hard currency, which means that if you spend them, you will not be able to get those Bitcoins back through pulling. In essence, if you initiate a Bitcoin trade for a soft currency trade, (such as PayPal) you stand the risk of a chargeback after you trade your Bitcoins.

The person buying your Bitcoins can file for a chargeback by declaring the non-receipt of the Bitcoins or if the buyer is using a stolen account, the true owner of the account might reverse the charges because he hasn’t made any transaction, resulting in a loss for you. This is why it is important that you trust the person you trade with.

Exchange Rates and Market Forces

A few years earlier, when Bitcoin was still in its infancy, the digital currency indicated a strong fluctuation in exchange rates and prices, which ranged from $50 to $266. However, it was in 2013, that Bitcoin indicated a rather stable progression in its exchange rate. According to the statistics provided by ConvertHub, the exchange rate for Bitcoins stood at $959.58 in February 2014.

Bitcoin has been a subject of much criticism from various economists who claim the only thing it does is bubble around itself, something which is vaguely similar to what happened before the housing market collapsed. However, no one can deny that Bitcoin has indicated a great tendency to fluctuate massively.

On the other hand, due to growing instability in the global economy, many consider Bitcoin to be a reliable and progressive investment vehicle compared to other well-known currencies. While access to Bitcoins is getting convenient by the day, more people are buying and selling Bitcoins and the availability of that access serves to be prime source of unpredictability and inconsistency in the prices of Bitcoins in the market.

Due to bans on Bitcoin converts imposed by governments around the globe, most notably the US government, it can now be difficult to convert your Bitcoins into US Dollars. This has, in turn, led to a massive instability in the price of Bitcoins pertaining to its geographical integrity, which ironically has become a problem for the currency which was created to be free from borders.

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