What is a crypto exchange? How buying and selling crypto works
By SendPay Business · · 2 min read
- 1Type in your own numbers
- 2The tool works it out
- 3See the answer clearly
A crypto exchange is a platform where people buy, sell and swap cryptocurrencies, either for other crypto or for ordinary money like pounds, euros or dollars. It's the main way most people get into and out of crypto.
Centralised and decentralised
A centralised exchange is run by a company: you open an account, pass identity checks, and the company holds the crypto for you. A decentralised exchange runs on a blockchain: you trade straight from your own wallet, with no account, but also no one to help if something goes wrong.
How prices are set
Most exchanges match buyers and sellers in an order book, so the price is whatever the last trade was. Simpler apps show a single buy or sell price instead, with their margin built in.
Try it
Name your platform and watch it come to life
Type a name, tap a colour and pick what it does. The phone changes as you go.
Colour
What it does
Design and preview your whole platform free, then launch when you are ready.
How exchanges make money
- A trading fee on each buy or sell.
- A spread between the buy and sell price.
- Fees for depositing or withdrawing money or crypto.
- Extras such as cards or premium accounts.
What to check before using one
Whether it's registered where you live, how it holds customers' crypto, the full cost of a trade including the spread, and how easy it is to withdraw. Crypto prices can fall as well as rise, and crypto isn't usually covered by deposit protection.
Launching your own
SendPay Crypto Exchange platforms let your customers buy, sell and hold crypto alongside cash under your brand, powered by licensed partners. It is free to design and preview, and you launch when you are ready. SendPay tells you in writing which licences apply before you launch.
How it works
Your own money app- 1Name it and pick your colours
- 2Choose what it does
- 3Launch when you are ready
Why sign up
Create your free SendPay account
It's all about creating your own financial platform with ease. Start with a free account today.
- 🪪A free business accountOpen it in about a minute with your business name, email, password and mobile. No card and no documents to start.
- 💳Get paid from day oneTake card payments, and share your own payment link and invoices so customers pay in a click.
- 🌐A free business websiteFree to build, free to publish and free to keep, with unlimited visits.
- 🚀Your own financial platformDesign and preview your whole platform free, then launch when you are ready.
SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.
Questions people ask
What could my own crypto exchange earn?
Work out monthly profit from trading fees and a spread, after your costs.
Crypto exchange business calculator →How do I launch a crypto exchange?
The guide covers the steps and the registration.
Launch a crypto exchange →How much did I make on a trade?
The free calculator works it out, fees included.
Crypto profit calculator →Read next
Spotted a mistake or something out of date? and we'll fix it. How our guides are made
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.