Re: Understanding The Different Types Of Cryptocurrency Exchanges
Today, cryptocurrency exchanges are gaining a lot of legitimacy as daily trading volumes now run in the billions of dollars. Even though there exist many popular trading platforms, the demand for new avenues is ever increasing.
With so many companies offering white label cryptocurrency exchange software solutions, it has become very easy to float your own trading platform. There are three types of cryptocurrency exchanges and it becomes important to understand the highlights of each before launching one. The three types of exchanges are listed below:
Centralized Exchange: This type of exchange focuses on high transaction speeds, easy liquidation of funds and supports multiple cryptocurrencies.
Decentralized Exchange: This variety of exchanges stay true to Nakamotos ideology for cryptocurrencies. Hence, decentralized exchanges focus on protecting the anonymity of users and improving the security of the platform.
Hybrid Exchange: As the name suggests, this type of platform borrows the strengths of centralized and decentralized exchanges. Therefore, users can access high transaction speeds without compromising on their anonymity.
Go-to name for building your white label cryptocurrency exchange.
Have never heard about the hybrid exchange though, but yes,decentralized exchanges does not store user's funds exchange which allows peer to peer cryptocurrency trading. The centralized description is also right. With so many companies offering white label cryptocurrency exchange software solutions, it has become very easy to float your own trading platform. There are three types of cryptocurrency exchanges and it becomes important to understand the highlights of each before launching one. The three types of exchanges are listed below:
Centralized Exchange: This type of exchange focuses on high transaction speeds, easy liquidation of funds and supports multiple cryptocurrencies.
Decentralized Exchange: This variety of exchanges stay true to Nakamotos ideology for cryptocurrencies. Hence, decentralized exchanges focus on protecting the anonymity of users and improving the security of the platform.
Hybrid Exchange: As the name suggests, this type of platform borrows the strengths of centralized and decentralized exchanges. Therefore, users can access high transaction speeds without compromising on their anonymity.
Go-to name for building your white label cryptocurrency exchange.
Hybrid exchange still on the progress and I think it's the ICO and there is so many of the project that calling their project as Hybrid Exchange.
But if the hybrid exchange means that we can buy and sell in one platform and we could swap one coin to another coin, I guess we already have a few wallets that can do it. You can try with Coinomi and Jaxx, and they are supporting to swap the coins. But I don't know if it's the same or not
