Crypto Currency Exchange Development

By AAO Techs 10 Mar 2022
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Cryptographic money trades are stages that work with the exchanging of digital currencies for different resources, including advanced and government-issued types of money. As a result, digital currency trades go about as a go-between a purchaser and a merchant and bring in cash through commissions and exchange expenses.
Types of Crypto Exchanges:  
Broadly, crypto exchanges are classified into two categories. They are Centralized Exchanges, decentralized exchange (DeFi). Both the categories come with their disadvantages and advantages.

The major difference between both is, just one organization manages these centralized crypto exchanges (CEX). Users can transfer their fiat cash, such as dollars, directly into cryptocurrency on centralized exchanges, making it simple to get started with cryptocurrency trading. The majority of the exchanges will be done through Centralized Exchanges.

Major crypto enthusiasts generally do not prefer cex because it goes against the ethos of cryptocurrency. Another concern is that CEX is prone to hacking. To address this, CEX has implemented many strategies to overcome this, like storing most of the customer's assets offline and giving them insurance policies to have a safe sail in times hackers stealing assets.

Whereas, decentralized exchange facilitates verified crypto trades. The transactions must be verified if you are willing to join a DEX network. But, the drawbacks of DEX are these exchanges are not user-friendly from both the interface standpoint and also in the exchange too. You cannot exchange crypto just by trading with your dollars directly.  What you actually have to do is, either own some crypto earlier or use any centralized exchange to buy in the crypto coin market upon which you can use them on DEX.

Here comes the key concept of crypto exchange, Exchange Fee. There are two types of fees that will be charged are Trading fee and the Withdrawal fee. It should be obvious that the fee is directly proportional to the crypto currency prices.

Today there are about 2000 cryptocurrencies with an equal number of cryptocurrency trading app/ cryptocurrency trading platform and 200 cryptocurrency exchanges but an 80percent of all the daily crypto coin market trading volume are done by top 10 crypto exchanges that are turning up as the largest crypto exchanges.

Few exchanges are:  ftx coin, altcoin exchange, Coinfield , upbit exchange, bittrex market, koinbazar.