Crypto glossary #2: Exchanges
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This is the second part of our mini educational introduction into the crypto world. This time, we’ll take a look at exchanges, find out which are the ones that list our VIB token, and see where we can exchange them for real cash.
Crypto-exchanges
Cryptocurrency exchanges are essentially websites where you can buy, sell or exchange one digital currency for other digital or traditional currencies (like USD or EUR). Any professional exchange operating with traditional currencies (fiat) requires you to verify your ID when opening an account by means of providing pictures of your ID, driver’s license or a passport.
What are the exchanges that support the VIB token?
In order to exchange our token for other cryptocurrencies, which you can later sell for a fiat currency, you have to register an account at one of the following exchanges that support our VIB token:
- Livecoin.net Available trading pairs: BTC/ETH/USD
- HitBTC Available trading pairs: BTC/ETH/USDT
- Binance Available trading pairs: BTC/ETH
- UpBit Available trading pairs: BTC/ETH/KRW
- Bittrex Available trading pairs: BTC/ETH
- OKEx Available trading pairs: BTC
Sell your cryptocurrency for a fiat currency
If your goal is to sell your tokens for a fiat currency (USD, EUR, etc.), you’ll first have to exchange them for BTC or ETH at one of the above-mentioned exchanges. Now that you have BTC or ETH, you’ll want to move them to exchanges, which allow you to sell your cryptocurrency for USD or EUR and make a withdrawal from your bank account. Below, we’re listing the most respectable ones. Each of the them has a slightly different UX, which is why we’re also adding links to their FAQ sites. We encourage users to read them to ensure safe withdrawals.
A word of caution…
When moving your cryptocurrencies, don’t move them directly from one exchange to another. We advise you to always withdraw your cryptocurrencies and move them to your wallet first, then move them from your wallet to another exchange. This will ensure your transactions go through without any problems.
