Crypto Exchanges, also known as Crypto assets Brokers, are intermediates to every transaction involving cryptocurrencies. These institutions facilitate trades using these assets, providing liquidity and security to both sides of the speculation process.
To start using an Exchange, you first have to choose the best option for your trading style and create an account through their websites. However, there is a very important difference between crypto Exchanges and the regular stock market: you can only trade crypto assets and pairs inside the Exchange itself. This means you cannot trade with other Exchanges, only with the quotes and fees your Exchange provides.
What differences will I notice among Exchanges? Will this influence my trade decisions?
Differences among Exchanges are very clear and perceptible. Since every Exchange will have its own closed market and by extension its own supply/demand relation, we might notice slight price differences when comparing quotes from our Exchange to others.
Also, every Exchange is in charge of specific Trading Rules (lot size, minimum/maximum order, etc.).