Understanding Crypto - Part 1
Cryptocurrencies started as a niche interest of just a few tech-savvy investors, but now have become a part of everyone’s life. Suddenly everyone is expected to know how it all works. To help you out, we will publish explanations of various terms and concepts.
What is an exchange?
A cryptocurrency exchange is a place where people can buy digital assets and trade with them. Just like the foreign exchange market for regular currencies (like dollars and euros), crypto currencies have their own crypto exchanges.
How does a cryptocurrency exchange work?
An exchange connects all the traders and allows them to make a transaction, exchanging crypto and fiat currencies while taking a small commission.
Why list a token in many exchanges?
The exchange market is decentralized and there is no single main exchange, so listing in many exchanges allows to reach a greater number of investors.
What should you know before trading starts?
Examine the rules of the exchange, the available currencies and commission fees. Remember to always do your own research and invest smart.
What makes a token valuable?
There is no set value for most of the tokens, it is only as valuable as people perceive it to be. The better and more popular are the services that back the token are, the more valuable it will be.
What does this all mean for PSIX?
There are many exchanges filled with many coins and tokens all around the world. That is why PSIX needs to stand out to not become just one of many tokens. We did it by creating a casino, white label system and the exchange. Because of that the value of the token will rise together with the popularity and success of ProperSix.
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