What are Exchanges?

Exchanges, also called brokers, are intermediaries for buying and selling cryptocurrencies . Such institutions facilitate the trading of these assets, providing liquidity and ensuring that each party receives what has been agreed.

The process of opening an exchange account is similar to opening an account with a securities firm. However, there is an important difference between the two cases, which we will explain below.

By opening an account with a securities brokerage in Brazil, you can trade the assets with other brokerages. For example, if you sell a share through broker X, another person can buy it through broker Y, because in this case both brokerages are linked to Bovespa. 

With Crypto Exchanges , on the other hand, this relationship with external institutions is not possible. Therefore, cryptocurrencies will be traded with people who use the same exchange as you.

For those who operate, is there any difference with the change in the relationship between institutions?

Yup. The price of a certain asset may differ from one exchange to another . In short, each exchange is both a market and an intermediary.

Is Vector an exchange?

We are a software developer for analysis and studies of the crypto market. However, you can trade through our platform by integrating your Exchange account. Thus, you can send your orders directly on the platform. 

It is currently possible to integrate accounts from the following exchanges with Vector:

• • Binance
  • ¹Binance US 
  • OKX
  • Mercado Bitcoin
  • NovaDax
  • BitcoinTrade
  • ³Deribit (10% discount on trading fees)
  • Bitso
  • Bitget
  • Bybit

If you have any questions, we are available through our service channels, see here.

¹To maintain compliance with legal requirements, Binance has updated its API services. As of 09/08/2021, only users who have completed the intermediate verification can create new API keys. Accounts that have only completed basic verification will have their API keys deactivated after 8/22/2021. For more information: https://www.binance.com/en-BR/support/announcement/654c092a2a2347bdb5ccd6faa0c6c039  

²Access to the Market Data service that allows trading only via simulation, with the exception of residents in the United States.
³This bonus is only valid for 30 days after the account is created.

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