Types of Centralised Cryptocurrency Exchanges

1. Types of Centralised Cryptocurrency Exchanges Cryptocurrency Exchange applications in the market are evolving daily by adopting newer and innovative ways to ease out the exchange process. The number of exchange platforms is increasing day by day and only a few of them are staying in the market for long. Based on the exchange process and the way it functions, the cryptocurrency exchanges can be divided into 3 major types as follows, •Order Book based exchange •P2P exchange •OTC trading platform Order book based exchange: For more information visit: https://www.hashogen.com/ Order book based trading and exchange are very famous and a traditional type of exchange. Using this the trader can trade with the help and assistance of the orders entered by the traders within the order book. The counter-order placed for the order available in the order book will complete the trade and if a matching order is not available in the order book then the placed order will get updated in the order book. For more information visit: https://www.hashogen.com/bitcoin-exchange-software.php With different types of order-making methods such as Limit orders, Market order, Stop limit order, etc., the order book based exchange

2. stands as the preferred type of exchange among the users and the traders. P2P Exchange: P2P exchange is otherwise known as Peer to Peer exchange is a simple exchange mechanism that will be conducted within the platform with the help of Escrow function. The buyer will find a seller and vice versa and the exchange will be initiated. Once after initiating the trade the respective cryptocurrency will be escrowed by the central mechanism and will wait for the buyer to transfer funds to the seller directly. By receiving the confirmation from the seller after receiving the money the escrowed crypto will be released to the buyer’s crypto wallet. Localbitcoins and paxful are the best examples for P2P crypto exchange. OTC Exchange: OTC exchange follows a very simple way to exchange the cryptocurrencies. OTC desk is simply a broker desk where the user can be able to buy or sell the cryptocurrencies directly with the broker for a fixed or marginal price. This is also termed as an instant buy/sell process. All 3 types of exchanges listed above have been adopted for many entrepreneurial ventures and tasting success in many parts of the

3. world. Whitelabel cryptocurrency exchange software similar to Poloniex, LocalBitcoins and shapeshift will be helpful to set up a platform instantly. The advantage of using the bitcoin exchange website script is that it will consume less time and can hit the market within a lesser amount of time. Hashogen Technologies offers Cryptocurrency Trading Script developed by an experienced team of developers that checks all the boxes of essential functionalities and the security features.