In the LYO Ecosystem today we find two exchanges: the exchange page in the LYOPAY app, and the LYOTRADE platform. They are both cryptocurrency exchanges but very different from each other. What are the differences, and how to choose which one to use?
- On the LYOPAY app there is a one-click cryptocurrency exchange to do instant trades with the best rates
- LYOTRADE is for open positions and being able to do professional trading, thanks to benefits such as liquidity and the availability of 794 tokens.
- OTC, Contract, and Balance of Margin accounts are features available on LYOTRADE.
- Whether you are a crypto newbie or a crypto enthusiast, in the LYO ecosystem you will find what you need.
What is the difference between LYOTRADE and LYOPAY exchanges?
The difference between them depends mainly on the purpose and function of each platform.
LYOPAY is primarily a payments application. Its main purpose is to bring about the mass adoption of cryptocurrency. It allows you to open a EUR bank account, proxy account, crypto wallets, have a physical card and much more.
The exchange option on LYOPAY has 150 trading-pairs for exchange currencies as BAT, BNT, BTC, COTI, CVC, ETH, LINK, LTC, OMG, PAXG, UNI, USDC, USDP, USDT, ZRX. Check the full trading pairs list on the LYOPAY website to confirm which tokens can be exchanged for which.
The LYOPAY exchange is a one-click cryptocurrency exchange to do instant trade with the best rates. The trade takes place in a few seconds at the current exchange price.
On LYOPAY, there are many more features.
What are the LYOTRADE benefits?
LYOTRADE is a professional cryptocurrency exchange that lets you buy, sell and trade different cryptocurrencies. LYOTRADE benefits are:
- High Liquidity
LYOTRADE is linked to the top 300 exchanges of the world, which provides it a high liquidity. High liquidity means that there are a large number of buy and sell orders in the underlying market. When people trade, liquidity must be considered to open or close a buy, or sell an order. This is because if there is a lack of liquidity, the risk increases: if there is volatility in the market, but there are fewer buyers than sellers, it can be more difficult to close an order. In this situation you risk getting stuck in a losing position or having to go to multiple shares, with different prices, just to complete your order and close the position.
2. Almost 800 tokens to trade
LYOTRADE boasts one of the highest numbers of tokens available on any exchange — a whopping 794 tokens! Having a wide choice of cryptocurrencies and tokens to trade allows a user to operate on a single exchange, instead of having to open several accounts to reach certain tokens. And this is just the opening number: new currencies will be integrated in time, to meet the needs of all traders.
LYOTRADE is a professional cryptocurrency exchange, which goes beyond being just a mere exchange of tokens. Think of it as a stock exchange but the commodity being traded is cryptocurrency. On a cryptocurrency exchange you can do many things related to buying and selling different tokens. It is more professional and offers you many more types of trading such as Swap, Margin, Fiat and Futures trading.
Apart from trading, you would also need to keep your different tokens in a wallet. Not all wallets support every kind of token, which is why we have different types of secure, fully insured wallets available on the platform. These include Digital, OTC, Contract, and Balance of Margin accounts.
Now you know what makes the exchanges on LYOTRADE and LYOPAY different.
If you’re a pro-crypto enthusiast, we would recommend trying out LYOTRADE and the many options available for trading.
If you’re a beginner in cryptocurrencies and want to try your hand at using cryptocurrencies for your day-to-day transactions, we would recommend LYOPAY, which is easier to understand and use. Just put your deposit into your LYOPAY wallet and start using it for everything, from groceries to travel.
Sign up today on LYOPAY and start using crypto payments!
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