As digital trading begins to break new records, it is important to know more about the flourishing business of Cryptocurrency exchange development. Let us understand how an exchange operates.
- It matches interested buyers and sellers on a platform and helps them to exchange their respective assets.
- They operate 24x7 and do not have limited trading hours.
- They charge fees for executing trades based on the volume of transactions occurring on the platform for a period.
- Supply and demand conditions in the market will dictate the prices and there is no official global price. This is why traders may experience different prices set on different exchanges at the same time.
- The traders can see the orders waiting in the order book and price changes during a period before taking their respective investment decision.