📚 IT'S THE SAME... TRADING APP...? EXCHANGE...? WALLET..??
💥These applications can be classified into various categories based on their main functions.
⚡ Here I explain the most common terms and how they apply to the apps we mentioned:
📊 1. Exchange.. Cryptocurrency Exchange
📚 These are platforms where you can buy, sell, or exchange cryptocurrencies. Some also allow advanced trading with derivatives, futures, etc.
💥Examples: Binance, Kraken, OKX, Gate.io, Bitget, HTX, Coinbase, Bitvavo, XT.com
💼 2. Trading App...
📚 This term is broader. It includes exchanges, but also apps that allow trading with cryptocurrencies without necessarily owning them (like CFDs), or that integrate social or educational functions.
💥 Examples: eToro, NAGA, MultiBank Group, MetaTrader 4/5, EasyEquities, Swissquote
🔐 3. Wallets...
📚 They are primarily designed to store, send, and receive cryptocurrencies. Some also allow buying or exchanging within the app.
💥 Examples: Bitcoin.com Wallet, Coinbase Wallet (different from the trading app), Trust Wallet (not listed but relevant)
🧩 4. Aggregators or Financial Platforms
📚 They offer market information, price tracking, and news, but do not always allow direct trading.
💥Example: Investing.com
⚡In summary⚡
- Exchange: if the focus is on the direct exchange of cryptos.
- Trading app: if it includes investment functions, charts, derivatives, or social trading.
- Wallet: if its main function is to store and transfer cryptocurrencies.
