They are basically digital exchanges, they allow you to buy Bitcoin and other cryptocurrencies such as Ethereum , Litecoin, BNB, XRP, many more.
Binance is the platform with the highest trading volume, as well as the largest offer with a sum of 150 cryptocurrencies, MEXO, Coinbase and Crypto offer more than 50 cryptocurrencies and Bitso only 9 cryptocurrencies, of which 2 are stablecoins.
In August 2020 MEXO began operations in Mexico, its purpose is to professionalize the digital asset market in Latin America.
Each cryptocurrency has its own interest rate and operates under its own chain of blocks , this is important since it determines the transfer costs to another exchange or wallet, as well as the number of confirmations that a cryptocurrency requires to arrive.
It is important to point out, for those who start in Crypto, that the destination addresses are of the cryptocurrencies that you are going to transfer.
In this type of Orders there is no control over the price, they are used when you want the transaction to be executed immediately at the best available price, which will not always be the current price shown.
This type of order offers greater control over the price since you set the price at which you want it to be executed.