There is also, which is very well known among famous exchanges, especially for its sponsorships in high-level sports. MEXC Global has also grown a lot in recent times. lately, FTX is widely used, in addition to the classic Coinbase, while in Asia, KuCoin is increasingly used, in addition to OKX. In fact, derivatives allow for more sophisticated trading techniques, such as margin trading and short positions, which is why experienced traders often prefer them.Īmong the world’s largest centralized exchanges, there is certainly Binance, although there are different preferences in different areas of the world.įor example, in the U.S. Moreover, exchanges often allow the buying and selling of cryptocurrencies and derivatives such as futures or options, where trading volumes are now very high. Moreover, as mentioned earlier, there are also decentralized ones, although the latter are fewer and, more importantly, have far lower exchange volumes. In other words, it is the basic infrastructure on which purchases and sales occur between cryptocurrency or fiat currency holders, and thousands of them worldwide. Indeed, the absolute most widely used cryptocurrency infrastructures in the world are centralized exchanges.Īn exchange is a platform that enables the exchange of cryptocurrencies in fiat currencies or other cryptocurrencies. But if you go beyond the boundaries of the decentralized world and into the one populated by centralized services, the cryptocurrency services offered are extremely numerous. That’s broadly what is found in the decentralized environment in which real cryptocurrencies were born and live. Blockchain is the main support technology for cryptocurrencies Centralized exchanges, the most widely used cryptocurrency infrastructure in the marketplace It should be mentioned, however, that in addition to those already mentioned, the other two major cryptocurrency services provided by smart contracts are Maker, with its DAI stablecoin, and the Aave lending service. However, there are many other services provided by smart contracts, including, for example, farming services. Curve Finance has also been growing a lot lately. The most widely used smart contracts are the so-called DEX, or Decentralized Exchanges, among which Uniswap and PancakeSwap stand out. In addition, many smart contracts also run on second- and third-generation blockchains, such as Ethereum and BSC, which in turn provide services. In the case of Ethereum, some nodes also provide the staking service, such as Lido, although in truth, many of the main providers of staking services are exchanges. However, blockchains do other things as well, so much so that an even more important service is what nodes or miners provide in the case of Bitcoin. For BSC, Trust Wallet is the most commonly used. For Bitcoin, for example, Coinbase’s wallet is widely used, or those of other exchanges, and Strike, based on the Lightning Network, is becoming increasingly popular.įor Ethereum, the discussion is similar, except that one of the most widely used non-custodial wallets is My Ether Wallet (MEW). In addition to these, there are also so-called custodial wallets, which are wallet services offered by third parties to which one can send one’s funds by delegating custody. The most widely used ones are Ledger and Trezor. However, there are also hardware wallets, which are slightly more inconvenient to use but more secure. But BitPay and multi-coin wallets such as Trust Wallet and Eidoo are also widely used. The different types of walletsĪmong the most widely used software wallets for Bitcoin are definitely Electrum, Green Wallet, and recently Wasabi. The simplest service is for sending tokens and cryptocurrencies to use it, you just need to have a wallet on which to deposit funds. What services can be used leveraging these cryptocurrency infrastructures? The largest blockchains are certainly Ethereum’s and Bitcoin’s, but Binance’s Binance Smart Chain (BSC) is also increasingly being used. The first and most important is the blockchain. The infrastructures on which the cryptocurrency industry relies are many and very diverse.
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