The brokerage and exchange differ with regards to who you are buying or selling crypto assets with.
Brokerage
On the brokerage, you buy or sell crypto assets with a Virtual Asset Service Provider (VASP) as the other party. The benefit is that you can immediately buy or sell crypto assets whenever you please; however, the VASP sets the prices for buying or selling each crypto asset. This causes spread (the difference between the buy and sell prices), which is essentially the transaction cost. As a result, it may feel more expensive.
Exchange
On the exchange, you buy or sell crypto assets with other LINE BITMAX users. There is no spread, but you pay a fee to the VASP for each transaction. Also, as opposed to the brokerage, you may not be able to complete your desired trade due to board conditions.
Note: LINE Xenesis may place orders as a trader to improve exchange liquidity.
How to start using the LINE BITMAX Exchange Service
Use of the exchange service requires setting up a LINE BITMAX account and agreeing to all of the terms, including the LINE BITMAX Exchange Service Terms and Conditions of Use.
To agree to the terms:
1. From the LINE BITMAX home screen, tap the Exchange tab.
2. Tap the crypto asset you want to trade.
3. Enter your desired price and amount, then tap Buy or Sell.
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