Trading means converting assets among each other with the purpose to make a profit from the price difference. Trading has many methods. It may be the shortest possible trades that last for seconds, day trading, swing trading, or long-term investments. Every trader picks an appropriate strategy for oneself.
Crypto exchanges offer many different tools for successful trading. Depending on the platform types, the number of functions varies:
- Regulated crypto platforms have a much wider range of features compared with not regulated. For example, regulated exchanges allow users to borrow funds for trading, use margin, trade futures, etc. One of the main distinctive features of centralized platforms is fiat-crypto conversion. It is true that such exchange is possible only on regulated platforms. Binance, WhiteBIT, Coinbase, KuCoin, etc. – are centralized exchanges.
- Decentralized platforms do not allow users to convert fiat to crypto and back. They do not even ask for user registration. Such exchanges are just bridging people who send each other crypto coins from their wallets. Funds do not stay on a platform in this case.
Both types of platforms are used by traders and investors. However, if you want advanced tools or need to convert, for example, ETH to USDT and withdraw funds to your bank card, you better use a regulated exchange.
Buying and Cashing Out Crypto
The WhiteBIT is a prominent crypto exchange with European registration that operates in over 15o countries. It allows registered clients to convert fiat-crypto pairs. If you want to withdraw Ethereum to your bank card and cash it out, use the WhiteBIT converter:
- Select ETH and USD and see the relevant price for this pair
- Then enter the number of ETH coins you want to give
- The converter will show you how many USD you will get for it.
- Pay the fee and receive USDT in your account immediately.
Learn more about converting crypto on the WhiteBIT blog.