There are several types of cryptocurrency exchanges:
- Online Exchanges:Online cryptocurrency exchanges are websites that allow users to exchange digital currencies without leaving their homes. These exchanges provide a convenient interface, quick transactions, and often the most favorable exchange rates.
- Offline Exchanges:Offline cryptocurrency exchanges have a physical presence, usually in the form of exchange points. They are suitable for those who prefer buying or selling in offline mode. In Ukraine, many such exchanges with good rates can be found in major cities like Kyiv, Odessa, Dnipro, Kharkiv, Lviv, as well as in smaller towns, although in smaller towns, these are usually regular exchange points.
- P2P Exchanges:Peer-to-peer (P2P) exchanges are an integrated feature on cryptocurrency exchanges. They allow users to make transactions directly with each other without intermediaries, or the exchange acts as a guarantor of the transaction, minimizing the risk of fraud. This can be cost-effective in terms of fees, although fees may vary between exchanges. On platforms like Binance, for example, there are no fees for P2P transactions. It's important to note that using this method through an exchange does not allow the use of cash for buying or selling. Additionally, exchanges do not offer anonymity, as most exchanges require user verification with document submission. If you prefer not to provide your data to the exchange, it's safer to use a cryptocurrency exchange for converting USDT to cash.