The first type of exchange is what most people call a fiat exchange. This an exchange that allows the direct transfer of US Dollars, Euros, and most government-backed currencies to be traded for cryptocurrency.

The second type of exchange are cryptocurrency to cryptocurrency exchanges (C2C), that allow cryptocurrencies to be traded with each other. The most common pairings on these exchanges are Bitcoin and Ethereum. Crypto to crypto exchanges will be covered more in-depth on the second half of this page.

This way of providing computing power became very popular. So popular that computing power lent to miners all around the world has neared half of all the Bitcoin network power, increasing the chances of a 51% attack. CEX isn’t going to destroy Bitcoin if only because it’s their primary way of earning money. To lower its computing power share, the company has suspended new client registration. At the moment the Company’s ghash.io pool’s power equals to around 30% of the entire network’s computing 

Cryptocurrency scams that everyone should be aware of

1. Fraudulent ICOs

​

The most common way to pull off a scam is to fabricate a fake ICO, create marketing hype and persuade people to buy.

That is because ICOs are a great and innovative way to kickstart a company and that is the aspect that is misused. (Read: What Are ICOs ( Initial Coin Offering) & Why Are They Good For You?)