Exchanges and Rates
What is Coinbase?
Coinbase is an online platform for transactions. The exchange is secure and facilitates buying, selling, trading, transferring, and saving digital assets. Whether a person would like to send or receive cryptocurrency between digital wallets, friends, family, or merchants it is completely free on Coinbase. Currently, Coinbase has four cryptocurrencies on its platform: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC).
What are transaction fees?
Transaction fees are costs that are acquired when buying or selling goods and services. Transaction fees take into account that there is labor needed to introduce a good or service to the market. Therefore, there will be a plethora of businesses and industries devoted to facilitating exchanges. In financial terms, transaction fees usually include commissions, broker fees, and spreads. This in turn, creates a difference of price from what the dealer or broker has to pay versus what the buyer has to pay.
What is an exchange?
A Bitcoin or cryptocurrency exchange is a platform where investors can participate in buying, selling, and trading of digital assets. Fiat currency is used to fund these activities.
What is Double Spending?
A double spend is an attack where the given set of coins is spent in more than one transaction. Sending two conflicting transactions in rapid succession into the Bitcoin network would be an attempt to spend the same funds twice.