Автор Тема: How does CEX work?  (Прочитано 35 раз)

Оффлайн aaron

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How does CEX work?
« : 01 Август 2024, 10:18:16 »
A centralized exchange (CEX) acts as an intermediate platform, enabling cryptocurrency transactions between buyers and sellers. Here is a simple outline of its working process:

User Registration and Verification: Users create accounts on the CEX platform, which frequently requires Know Your Customer (KYC) authentication to ensure compliance with regulations.

Depositing Funds: Users deposit cryptocurrency or fiat currency into their exchange wallets. These funds are held in custody by the exchange.

Order Placement: Users place buy or sell orders, specifying the chosen cryptocurrency, quantity, and price.

Order Matching: The exchange's trading engine matches buy and sell orders based on price and quantity.

Trade Execution: When a match is identified, the exchange completes the transaction, transferring the agreed-upon cryptocurrency between the buyer and seller.

Fee Collection: The exchange charges a fee for facilitating the trade, which is deducted from the involved parties.

Withdrawal: Users can transfer cryptocurrencies or fiat currencies from their exchange wallets to their personal wallets.

Developing a robust and secure centralized exchange requires expertise in various domains, including blockchain technology, trading engine development, security protocols, and regulatory compliance. A  :ph34r: like MetaDiac specializes in building these CEXs platforms, providing comprehensive solutions for businesses entering the cryptocurrency market.

Оффлайн aaron

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How does CEX work?
« Ответ #1 : 01 Август 2024, 10:29:15 »
A centralized exchange (CEX) acts as an intermediate platform, enabling cryptocurrency transactions between buyers and sellers. Here is a simple outline of its working process:

User Registration and Verification: Users create accounts on the CEX platform, which frequently requires Know Your Customer (KYC) authentication to ensure compliance with regulations.

Depositing Funds: Users deposit cryptocurrency or fiat currency into their exchange wallets. These funds are held in custody by the exchange.

Order Placement: Users place buy or sell orders, specifying the chosen cryptocurrency, quantity, and price.

Order Matching: The exchange's trading engine matches buy and sell orders based on price and quantity.

Trade Execution: When a match is identified, the exchange completes the transaction, transferring the agreed-upon cryptocurrency between the buyer and seller.

Fee Collection: The exchange charges a fee for facilitating the trade, which is deducted from the involved parties.

Withdrawal: Users can transfer cryptocurrencies or fiat currencies from their exchange wallets to their personal wallets.

Developing a robust and secure centralized exchange requires expertise in various domains, including blockchain technology, trading engine development, security protocols, and regulatory compliance. A centralized exchange development company like MetaDiac specializes in building these CEXs platforms, providing comprehensive solutions for businesses entering the cryptocurrency market.