Markets
Markets & Exchanges
Markets & Exchanges covers how cryptocurrency changes hands and gets a price. How a centralized exchange matches buyers and sellers, what it does with your deposit, and why several large exchanges have failed. What stablecoins are and the different ways they try (and sometimes fail) to hold a fixed value. The section explains the plumbing so that prices, fees, and headlines make sense. It never tells you what to buy.
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How Crypto Exchanges Work
What happens when you buy crypto on an exchange: order books, spreads and fees, what the platform does with your deposit, and why exchanges fail.
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What Are Stablecoins?
How stablecoins try to hold a fixed value, the difference between reserve-backed, crypto-backed, and algorithmic designs, and what happens when the peg breaks.
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