Crypto Sites Similar to Coinbase for Bitcoin and Other Cryptocurrencies

When it comes to crypto trading, Coinbase is definitely one of the most popular platforms out there. However, there are also many other exchanges and wallets that offer similar features and services. If you’re looking for alternatives to Coinbase, you’ve come to the right place!

There are several crypto exchanges and trading sites that are just as reliable and user-friendly as Coinbase. These platforms allow you to buy, sell, and trade different cryptocurrencies, just like you would on Coinbase. They also offer secure wallets to store your digital assets and provide a seamless user experience.

One example of a Coinbase alternative is Binance. Binance is one of the largest and most trusted crypto exchanges in the world. It offers a wide range of cryptocurrencies for trading and has a user-friendly interface. Binance also has its own native token, Binance Coin (BNB), which can be used to lower trading fees on the platform.

Another popular option is Kraken. Kraken is known for its advanced trading features and strong security measures. It offers a wide range of cryptocurrencies, including some that are not available on Coinbase. Kraken also provides a variety of trading options, such as margin trading and futures contracts, for more experienced traders.

Overall, while Coinbase is a great platform for buying and selling crypto, there are several other exchanges and wallets that offer similar features and benefits. Whether you’re looking for a wider selection of cryptocurrencies, advanced trading options, or lower fees, there’s a Coinbase alternative out there that suits your needs!

Binance

Binance is a cryptocurrency exchange that is similar to Coinbase in many ways. It is one of the largest and most popular exchanges in the world, known for its wide range of trading options and user-friendly interface.

Like Coinbase, Binance provides a platform for buying and selling various cryptocurrencies. Users can trade a wide range of coins, including popular options like Bitcoin, Ethereum, and Litecoin, as well as lesser-known cryptocurrencies.

Trading Options

Binance offers a variety of trading options to cater to different needs and preferences. The exchange provides both basic and advanced trading interfaces, allowing users to choose the level of complexity that suits them best. The basic version is suitable for beginners, while the advanced version provides more advanced features for experienced traders.

Binance also offers a variety of trading pairs, allowing users to trade cryptocurrency against other cryptocurrencies or against fiat currencies like USD and EUR. This gives users more flexibility when it comes to their trading strategies and investment opportunities.

Wallets and Security

Similar to Coinbase, Binance provides wallets for storing cryptocurrencies. Users can choose to store their coins in Binance’s online wallet, known as the “exchange wallet,” or in an offline wallet for added security. Binance also offers a two-factor authentication feature and other security measures to help protect users’ funds.

Investment Opportunities

Binance offers various investment opportunities for users. In addition to trading cryptocurrencies, users can participate in Initial Coin Offerings (ICOs) and earn passive income through staking and other investment options. Binance also has its own native cryptocurrency, Binance Coin (BNB), which can be used to pay for trading fees and participate in token sales on the platform.

In conclusion, Binance is a popular cryptocurrency exchange that provides similar features and services to Coinbase. It offers a wide range of trading options, secure wallets, and various investment opportunities. Whether you are a beginner or an experienced trader, Binance can be a great platform to explore the world of cryptocurrencies.

Kraken

Kraken is one of the popular crypto exchanges similar to Coinbase. It offers a variety of features for cryptocurrency investors.

Like Coinbase, Kraken provides a user-friendly platform for buying, selling, and trading digital currencies. It supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, Ripple, and more.

One of the advantages of Kraken is its advanced trading features. Users can trade on margin, use advanced order types, and access a variety of trading tools to enhance their investment strategies.

In addition to trading, Kraken also offers features like staking, where users can earn rewards by holding certain cryptocurrencies. It also provides access to initial coin offerings (ICOs) and other investment opportunities.

Similar to Coinbase, Kraken also prioritizes security. It stores the majority of customer funds in offline, cold storage wallets to prevent hacking attempts. It also offers two-factor authentication for added account security.

If you’re looking for alternatives to Coinbase, Kraken is definitely worth considering. It provides a robust platform with features that cater to both beginner and advanced investors.

  • User-friendly platform for buying, selling, and trading cryptocurrencies
  • Supports a wide range of cryptocurrencies
  • Advanced trading features for margin trading and advanced order types
  • Staking and investment opportunities
  • Strong security measures, including offline storage and two-factor authentication

Bitstamp

Bitstamp is one of the leading crypto exchanges similar to Coinbase. It is a popular platform for trading and exchanging cryptocurrencies.

Similar to Coinbase, Bitstamp provides users with a secure wallet to store their crypto assets. Users can easily buy and sell a variety of cryptocurrencies on the platform, including Bitcoin, Ethereum, Ripple, and more.

Bitstamp is known for its user-friendly interface and advanced trading features. It offers a range of order types, including market, limit, and stop orders, allowing users to execute trades according to their specific preferences. The platform also provides real-time market data, charts, and analysis tools to help users make informed trading decisions.

Like Coinbase, Bitstamp complies with regulatory standards and ensures the security of user funds. It uses advanced security measures, such as two-factor authentication and cold storage, to safeguard user assets.

In addition to trading, Bitstamp also offers a range of other services, including margin trading and an API for developers. This makes it a versatile platform for both beginner and experienced traders.

Features Bitstamp Coinbase
Advanced Trading ✔️ ✔️
Multiple Cryptocurrencies ✔️ ✔️
User-Friendly Interface ✔️ ✔️
Secure Wallet ✔️ ✔️
Regulatory Compliance ✔️ ✔️

Gemini

Gemini is a cryptocurrency exchange similar to Coinbase that provides users with a secure and reliable platform for buying, selling, and trading various cryptocurrencies. It was founded in 2014 by Cameron and Tyler Winklevoss, popularly known as the Winklevoss twins, who are also known for their involvement in the early days of Facebook.

Gemini offers a range of features that make it a popular choice among crypto enthusiasts. Like Coinbase, Gemini allows users to easily buy and sell cryptocurrencies, including Bitcoin, Ethereum, and others, using various payment methods like credit and debit cards, bank transfers, and wire transfers. They also offer competitive fees, making it an attractive option for those looking to invest in digital assets.

One of the key advantages Gemini has over Coinbase is its focus on security. Gemini employs a variety of measures to ensure the safety of its users’ funds, including cold storage for the majority of assets and encryption protocols to protect user data. Additionally, Gemini is a regulated exchange and is licensed by the New York State Department of Financial Services, which adds an extra layer of trust and reliability for users.

Investment Opportunities and Wallets

Gemini provides users with the opportunity to explore different investment options. They offer various trading pairs and advanced trading features for more experienced users, such as limit orders and stop orders. Gemini also has a user-friendly interface, making it accessible for beginners who are just starting their crypto journey.

When it comes to wallets, Gemini offers both hot and cold storage options. Hot wallets are connected to the internet and enable quick access to funds for trading purposes. On the other hand, cold wallets are not connected to the internet and provide a higher level of security for long-term storage.

Comparison to Other Crypto Exchange Sites

While there are several crypto exchanges similar to Coinbase, Gemini stands out due to its emphasis on security and regulatory compliance. Its founders’ background and reputation in the crypto industry also add credibility to the platform. Additionally, Gemini’s user-friendly interface and wide range of available cryptocurrencies make it an attractive option for both beginners and experienced traders.

In summary, Gemini offers a secure and reliable platform for users to buy, sell, and trade cryptocurrencies. With its focus on security and regulatory compliance, it provides users with a trustworthy environment to invest and trade digital assets, making it a viable alternative to Coinbase.

Coinmama

Coinmama is a cryptocurrency exchange similar to Coinbase that allows users to buy and sell various cryptocurrencies. It is one of the most popular sites for trading digital assets and offers a user-friendly platform for both beginners and experienced traders.

Like Coinbase, Coinmama provides a secure and reliable way to invest in cryptocurrencies. It offers a wide range of supported coins, including Bitcoin, Ethereum, and many others. This diversity allows users to easily diversify their investment portfolio.

Features of Coinmama:

  • Simple and intuitive user interface
  • High liquidity for fast trades
  • Wide range of supported cryptocurrencies
  • Multiple payment methods, including credit and debit cards
  • Instant delivery of purchased coins to your wallet

Coinmama is known for its excellent customer support, which is available 24/7 to assist users with any issues or questions they may have. Furthermore, Coinmama has implemented strong security measures to ensure the safety of users’ funds and personal information.

Whether you are a beginner looking to enter the crypto market or an experienced trader seeking a reliable platform, Coinmama offers a great alternative to Coinbase and should be considered among the top crypto exchanges for your investment needs.

Huobi Global

Huobi Global is a popular crypto exchange with a wide range of trading and investment options. Similar to platforms like Coinbase, Huobi Global allows users to buy and sell cryptocurrencies with ease. It offers a user-friendly interface and a variety of trading pairs, making it a convenient option for both beginner and experienced traders.

One of the key advantages of Huobi Global is its extensive selection of cryptocurrencies. It supports a wide range of digital assets, including popular coins like Bitcoin, Ethereum, and Litecoin, as well as lesser-known altcoins. This provides users with ample opportunities to diversify their crypto portfolios and explore new investment possibilities.

Like other exchanges similar to Coinbase, Huobi Global prioritizes security and employs advanced measures to protect user funds. It utilizes cold storage and two-factor authentication to safeguard assets, giving users peace of mind when trading on the platform.

Additionally, Huobi Global offers a range of trading features to cater to different user preferences. It provides both spot and margin trading options, allowing users to choose the trading style that suits them best. The platform also offers advanced trading tools and charts, enabling users to analyze market trends and make informed trading decisions.

To cater to a global audience, Huobi Global supports multiple languages and offers customer support in various languages as well. This makes it accessible to users from different countries, further enhancing its user-friendly nature.

In summary, Huobi Global is a leading crypto exchange that offers a wide range of trading and investment options. It provides a secure and user-friendly platform, similar to exchanges like Coinbase, making it a popular choice among crypto enthusiasts worldwide.

Bitfinex

Bitfinex is a popular cryptocurrency exchange similar to Coinbase. It provides users with a platform to trade various cryptocurrencies and offers a range of features and services.

Key Features of Bitfinex

  • Advanced Trading Tools: Bitfinex offers a variety of advanced trading tools such as limit orders, margin trading, and stop orders, allowing users to execute their trading strategies effectively.
  • Coin Selection: Bitfinex offers a wide selection of cryptocurrencies to trade, including Bitcoin, Ethereum, Litecoin, and many others. Users can easily find and trade their desired coins on the platform.
  • Lending and Borrowing: Bitfinex allows users to earn interest on their crypto holdings by participating in lending and borrowing activities on the platform. This feature provides an additional avenue for investment opportunities.
  • Security Measures: Bitfinex places a strong emphasis on security and implements various measures to protect users’ funds and personal information. These include two-factor authentication, cold storage, and regular security audits.

Advantages of Bitfinex

  • Large Trading Volume: Bitfinex is one of the largest cryptocurrency exchanges in terms of trading volume. This means that there is high liquidity on the platform, allowing users to execute trades quickly and easily.
  • Professional Trading Interface: Bitfinex provides a professional trading interface with advanced charting tools and indicators, making it suitable for experienced traders who require in-depth analysis and customization options.
  • API Integration: Bitfinex offers an API that allows developers to build their own trading tools and applications using the exchange’s data and functionality. This opens up possibilities for automated trading strategies and customized trading experiences.

Overall, Bitfinex is a reputable and feature-rich cryptocurrency exchange that offers a wide range of trading options and investment opportunities. It is suitable for both beginner and advanced traders who are looking for a platform similar to Coinbase but with additional features and capabilities.

CEX.IO

CEX.IO is a popular cryptocurrency exchange platform that offers a wide range of trading options for users. It is often compared to Coinbase, as both platforms are well-known in the crypto industry and attract a large number of users.

CEX.IO provides a user-friendly interface and a variety of trading pairs, making it a suitable choice for beginners and experienced traders alike. The platform allows users to buy and sell cryptocurrencies with ease and provides advanced trading features for those looking for more sophisticated investment strategies.

Like Coinbase, CEX.IO focuses on providing a secure and reliable trading environment. It employs industry-standard security measures and adheres to strict regulatory standards. This ensures that users’ funds and personal information are safe from potential threats.

Investors looking for alternative trading sites to Coinbase can consider CEX.IO as a viable option. It offers a diverse selection of cryptocurrencies and supports deposits and withdrawals in multiple fiat currencies, making it convenient for users from different regions.

Main Features of CEX.IO:

  • Wide range of cryptocurrencies available for trading
  • User-friendly interface for easy navigation
  • Support for multiple fiat currencies
  • Advanced trading features for experienced traders
  • High-level security measures to protect user funds
  • Compliance with regulatory standards

Comparison with Other Crypto Exchanges

Platform CEX.IO Coinbase
Available Cryptocurrencies Multiple Multiple
Fiat Currencies Supported Multiple Multiple
User-Friendly Interface Yes Yes
Advanced Trading Features Yes Yes
Security Measures High High
Regulatory Compliance Yes Yes

Overall, CEX.IO is a reputable exchange platform that offers features and services similar to Coinbase. Its user-friendly interface, diverse cryptocurrency options, and robust security measures make it an attractive choice for both beginners and experienced traders.

OKCoin

OKCoin is one of the crypto exchanges that are similar to Coinbase. It offers a wide range of services and features for individuals and institutional investors looking to invest in cryptocurrencies.

Like Coinbase, OKCoin provides a user-friendly platform where users can buy, sell, and trade various cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. The platform also offers advanced trading tools and features, such as margin trading and futures trading, for users who are more experienced in crypto trading.

In addition to trading, OKCoin also provides users with the ability to store their cryptocurrencies securely. It offers wallet services where users can store their digital assets safely. Similar to Coinbase’s wallet feature, OKCoin’s wallet provides users with control over their private keys, enabling them to have full ownership and control over their cryptocurrencies.

Furthermore, OKCoin is known for its strong security measures. The exchange has implemented various security protocols and measures to protect the funds and personal information of its users. It uses the latest encryption technology and stores most of its users’ assets in cold storage, which is not connected to the internet, ensuring maximum security.

As an investment platform, OKCoin offers a competitive fee structure. It charges reasonable fees for trading and withdrawals, making it attractive for both small and large investors. The exchange also provides a user-friendly interface and a responsive customer support team, ensuring a seamless user experience.

OKCoin Features
User-friendly platform
Wide range of cryptocurrencies
Advanced trading tools
Secure wallet services
Strong security measures
Competitive fee structure
Responsive customer support

In conclusion, OKCoin is a crypto exchange that is similar to Coinbase. It offers a range of features and services, including a user-friendly platform, a wide selection of cryptocurrencies, advanced trading tools, secure wallet services, strong security measures, a competitive fee structure, and responsive customer support. If you are looking for alternative crypto exchanges to Coinbase, OKCoin is definitely worth considering.

Kucoin

Kucoin is a popular cryptocurrency exchange similar to Coinbase. It is one of the leading crypto trading platforms that offers a wide range of cryptocurrencies for investment and trading.

Like Coinbase, Kucoin provides a user-friendly interface and supports various trading features, making it suitable for both beginners and experienced traders. It also offers a secure wallet for storing cryptocurrencies and allows users to easily manage their digital assets.

Features of Kucoin:

  • Wide Selection of Cryptocurrencies: Kucoin supports a diverse range of cryptocurrencies, providing users with numerous options for trading and investment opportunities.
  • Advanced Trading Tools: Kucoin offers advanced trading tools such as limit orders, stop orders, and margin trading to enhance trading strategies.
  • Secure Wallets: Similar to Coinbase, Kucoin provides secure wallets to store cryptocurrencies, ensuring the safety of users’ digital assets.
  • User-friendly Interface: Kucoin has a user-friendly interface that is easy to navigate, allowing users to quickly execute trades and access their account information.

Overall, Kucoin is a reliable cryptocurrency exchange that provides similar features and services to Coinbase. It offers a wide range of cryptocurrencies for trading and investment, advanced trading tools, and secure wallets to store digital assets. Whether you are a beginner or an experienced trader, Kucoin can be a suitable choice for your cryptocurrency trading needs.

Bittrex

Bittrex is a popular crypto exchange that is often compared to Coinbase. Like Coinbase, Bittrex offers a wide range of cryptocurrencies for trading and investment. It provides a secure platform for users to buy, sell, and store their crypto assets.

One of the key advantages of Bittrex is its extensive selection of cryptocurrencies. Just like Coinbase, Bittrex allows users to trade popular coins like Bitcoin, Ethereum, and Litecoin. However, it also offers a large number of alternative coins, giving users more options for their investments.

Another similarity between Bittrex and Coinbase is their focus on security. Bittrex employs multiple layers of security measures to protect its users’ funds. It uses two-factor authentication (2FA) and cold storage for wallet keys, similar to Coinbase, to ensure that user assets are kept safe.

In terms of user experience, both Bittrex and Coinbase provide intuitive interfaces that are easy to navigate. They both offer trading charts, order books, and other tools to help users make informed trading decisions. However, Bittrex may be more suitable for advanced traders due to its wider range of trading options.

While Bittrex and Coinbase are similar in many ways, it’s important to note that they are separate platforms with their own unique features. Some users may find certain features or aspects of one exchange more appealing than the other. Therefore, it’s recommended to explore both sites and compare their offerings before making a decision.

In summary, Bittrex is a crypto exchange similar to Coinbase that offers a wide range of cryptocurrencies for trading and investment. Both exchanges prioritize security and provide user-friendly interfaces. However, Bittrex stands out for its extensive selection of cryptocurrencies and may be a better fit for advanced traders.

EXMO

When it comes to cryptocurrency exchanges, there are several wallets, like Coinbase, that offer similar features and services. One such exchange is EXMO, which is a popular platform for buying and selling cryptocurrencies.

What is EXMO?

EXMO is a cryptocurrency exchange platform that allows users to trade various digital currencies. It is one of the largest exchanges in Europe and offers a wide range of cryptocurrencies for trading.

Similar to Coinbase

EXMO is similar to Coinbase in many ways. Both platforms provide users with the ability to buy and sell cryptocurrencies with ease. They also offer user-friendly interfaces, making it simple for beginners to navigate and trade. Additionally, both sites have secure wallets to store your digital assets.

However, there are some differences between the two. While Coinbase is primarily focused on the US market, EXMO caters more to European users. EXMO also offers a wider variety of cryptocurrencies, allowing users to trade many different coins and tokens.

EXMO is also known for its investment and trading features. The platform provides advanced trading tools and options, such as margin trading and stop-loss orders, allowing traders to execute more sophisticated strategies.

Overall, EXMO is a well-established cryptocurrency exchange that offers a range of features and services similar to Coinbase. Whether you are an experienced trader or just starting out, EXMO provides a reliable and secure platform for your cryptocurrency trading needs.

Bitbuy

Bitbuy is an investment platform that allows users to buy, sell, and store various cryptocurrencies. Similar to Coinbase, Bitbuy offers a user-friendly interface and a range of features for both beginners and experienced traders.

One of the key features of Bitbuy is its focus on security. The platform uses offline storage for the majority of user funds, keeping them safe from online threats. Additionally, Bitbuy offers two-factor authentication and withdrawal whitelisting to provide users with extra protection.

Bitbuy supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, among others. Users can purchase these coins using Canadian dollars, making it a popular choice for Canadian crypto enthusiasts.

In addition to its trading features, Bitbuy also provides users with a dedicated wallet to store their cryptocurrencies. This gives users full control over their funds and allows for easy access to their coins whenever needed.

When it comes to fees, Bitbuy offers competitive rates compared to other platforms and exchanges. Users can enjoy low fees for both trading and withdrawals, making it an attractive option for those looking to minimize costs.

Overall, Bitbuy is a reliable platform for crypto trading and investment. It provides users with a secure wallet, a variety of cryptocurrencies to choose from, and competitive fees. Whether you are a beginner or an experienced trader, Bitbuy can be a great alternative to Coinbase and other similar platforms.

Paymium

Paymium is a cryptocurrency exchange similar to Coinbase. It offers a variety of features and services for users looking to buy, sell, and trade digital currencies. It is known for its user-friendly interface and secure platform.

Like Coinbase, Paymium provides users with a digital wallet to store their cryptocurrencies. These wallets are encrypted and provide an added layer of security for users’ funds.

Paymium also offers investment opportunities for users who are interested in earning passive income from their cryptocurrencies. Users can participate in different investment platforms and sites to grow their crypto holdings.

The platform offers a wide range of crypto assets available for trading. Users can trade popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and more. Paymium provides a seamless trading experience with advanced order types and charting tools.

Overall, Paymium provides a reliable and trustworthy platform for crypto trading, similar to Coinbase. Whether you are a beginner or an experienced trader, Paymium offers a user-friendly interface and a variety of features to meet your cryptocurrency trading needs.

itBit

itBit is an investment platform similar to exchanges like Coinbase. It provides a secure and reliable platform for trading cryptocurrencies. With itBit, users can buy and sell various crypto assets such as Bitcoin, Ethereum, and Litecoin.

itBit offers a user-friendly interface that allows both novice and experienced traders to easily navigate the platform. It provides advanced trading features and tools to assist users in making informed trading decisions.

One of the key features of itBit is its regulatory compliance. The platform is regulated and holds a Trust Charter granted by the New York State Department of Financial Services. This ensures that itBit follows strict security protocols and safeguards user funds.

itBit also offers a robust trading infrastructure that can handle high volumes of trades with low latency. This makes it suitable for active traders and institutional investors who require fast execution and reliable market data.

In addition to trading, itBit also offers a range of other services such as custody solutions for institutional clients. This allows institutional investors to securely store their crypto assets with itBit.

Overall, itBit provides a reliable and regulated platform for trading cryptocurrencies. It offers features and services that are comparable to popular exchanges like Coinbase, making it a suitable choice for those looking for alternative crypto trading sites.

Luno

Luno is a popular cryptocurrency exchange platform that is frequently compared to Coinbase.

Like Coinbase, Luno offers a user-friendly interface and a wide range of trading options for both beginner and experienced investors. Users can easily buy and sell a variety of cryptocurrencies, including Bitcoin, Etherium, and Litecoin, among others.

One of the main advantages of Luno is its global presence. The exchange operates in more than 40 countries, making it accessible to users around the world. Additionally, Luno provides a seamless and secure trading experience, with advanced security measures in place to protect users’ funds and personal information.

For users who are looking for alternative investment platforms to Coinbase, Luno is definitely worth considering. Its ease of use, global presence, and robust security features make it a top choice among crypto exchanges. Whether you are a beginner looking to enter the world of crypto trading or an experienced investor seeking a reliable platform, Luno has something to offer.

Question-Answer:,

Is Coinbase the only cryptocurrency exchange platform available?

No, there are several other cryptocurrency exchange platforms similar to Coinbase.

Can you recommend any crypto exchanges that are similar to Coinbase?

Yes, there are several crypto exchanges similar to Coinbase, including Binance, Kraken, and Gemini.

What are the advantages of using a crypto exchange similar to Coinbase?

Using a crypto exchange similar to Coinbase can provide access to a wider range of cryptocurrencies, lower fees, and additional trading features.

Are there any downsides to using a crypto exchange similar to Coinbase?

Some downsides of using a crypto exchange similar to Coinbase may include less user-friendly interfaces and possibly fewer supported countries.

Are the security measures on crypto exchanges similar to Coinbase as strong?

Most crypto exchanges similar to Coinbase prioritize security and implement similar measures such as two-factor authentication and cold storage for funds.

Is there any cryptocurrency exchange similar to Coinbase?

Yes, there are several cryptocurrency exchanges similar to Coinbase. Some of them include Binance, Kraken, and Gemini.

What are the advantages of using a crypto exchange similar to Coinbase?

Using a crypto exchange similar to Coinbase has several advantages. First, these exchanges usually offer a wide range of cryptocurrencies to trade. Second, they often have a user-friendly interface and intuitive trading platform. Third, they provide secure and reliable services, protecting users’ funds.

Are there any differences between Coinbase and other crypto exchanges?

Yes, there are some differences between Coinbase and other crypto exchanges. For example, Coinbase is known for its beginner-friendly interface, making it a popular choice for novice traders. On the other hand, some other exchanges may offer more advanced trading features and options.

Which crypto exchange similar to Coinbase is the best?

The best crypto exchange similar to Coinbase depends on individual preferences and needs. Binance is often considered one of the top alternatives due to its large selection of cryptocurrencies and advanced trading features. Kraken and Gemini are also popular choices, offering secure and reliable services.

Can I buy cryptocurrencies with fiat currency on exchanges similar to Coinbase?

Yes, most exchanges similar to Coinbase allow users to buy cryptocurrencies with fiat currency. They typically support popular fiat currencies like USD, EUR, and GBP. Users can deposit their fiat currency and then use it to buy different cryptocurrencies available on the exchange.