The past couple of years have seen a rapid growth in the popularity of cryptocurrencies. People began to understand much better digital capital, and with its accumulation, the need for exchange arose.
To choose a bitcoin exchanger, a service appeared that quickly and efficiently conducts monetary transactions. The exchanger is a serious competitor to the exchange. It allows users in 5-15 minutes. Withdraw finances to an account or to a virtual wallet. In Europe and many other countries the rules and variants to exchange are almost the same.
What is the difference between an exchange and an exchanger?
It is difficult for a beginner to understand the difference between these two services, because they offer similar services. So the question arises: where to go and what to choose. The first thing worth paying attention to is that the bitcoin rate in exchangers is always overvalued, and can exceed 10% of the real value. If you do not want to overpay, then it is better to go to the exchange, but in this case you will have to register with documentary proof of identity.
But there are still differences:
- Assortment of cryptocurrencies. There are about a hundred options on the exchanges, and you can also find rare coins. Exchangers work mainly with those that are in the TOP-10.
- Currency prices. Exchange trades are formed based on supply / demand. In exchange offices, prices are set by the owners of the notes and these prices are usually higher.
- Interface. Exchangers usually make it possible to establish a native language. Not all exchanges provide the ability to install the native language, and navigation is more complicated.
- If traders mainly come to exchanges, then exchangers are chosen by those who need to convert currency from time to time and who do not want to wait long for the completion of the procedure.
So if you want to exchange BTG to BTC you just need to find BTG to BTC converter.
Regulation of cryptocurrencies in some European countries
Germany is considered one of the most progressive EU countries in terms of cryptocurrency regulation. Back in 2013, Germany ranked first in the official number of bitcoin owners (although there are only one or two crypto ATMs in the country). On February 27, 2018, a document appeared on the website of the German Ministry of Finance stating that bitcoin is recognized as cash. This status of bitcoin is comparable only to its status in Wyoming, USA.
Luxembourg became the first country in Europe to start licensing cryptocurrency exchanges. Cryptocurrency exchangers or exchanges must obtain special permits from government agencies to provide financial services; the country has the rules of the National Commission for the Supervision of the Financial Sector, which do not allow unregistered crypto companies to work in the country’s jurisdiction. But despite the strict regulation, the status of the cryptocurrency is defined and quite significant: in April 2014, the Financial Sector Supervision Commission issued a statement in which it equated cryptocurrencies with conventional currencies.