Local vs Global Cryptocurrency Exchange
In this article, you will learn about the difference between global cryptocurrency exchange and local cryptocurrency exchange.
Global Cryptocurrency Exchange
Wide Range of Users:
User traffic is more available in global exchanges, Users can come from any country to the Global cryptocurrency exchange.
Multiple fiat currency supports:
Global exchanges can explore multiple fiat currencies from various countries. So there is much chance to list different types of cryptocurrency with multiple pairs.
Liquidity:
Generally global exchange has higher liquidity due to a larger user base, which can lead to better pricing and faster transactions.
International Regulations:
Exchange actions must comply with international regulations. Some complex protocols and norms must be followed by global regulations, So every global exchange should follow those requirements.
Language and Customer Support:
Customer support should be run 24/7 for users. Also, global exchanges need to provide multi-language support for worldwide customers.
Example exchanges: Binance, Coinbase, Koinpark, etc
Local Cryptocurrency Exchange:
Targeting local users:
These types of exchanges target only local users, their idea is to build trust with local users and give trustable guidance to make constant user traffic.
Local Traditional currencies:
They can use local fiat currencies from users to purchase cryptocurrencies, it will be easy for both the user side and the exchange side.
Liquidity:
May have lower liquidity compared to global exchanges, which can affect pricing and transaction speeds.
Local Regulations:
These regulations, norms, and protocols are simple when it's compared to global regulations. Local governments implementing their laws for finance would be supportive of their people so it will be not more complex than international requirements.
Language and customer support:
It might be easy to communicate with local users in local languages. It can build a good relationships and best customer support to users.
Example exchanges: Coincheck (Japan), Coinfloor (UK), Bitso (Mexico)
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