Bitcoin in 2021 for the first time in history reached a price point of $ 40,000 – could the anonymous creator of the first cryptocurrency and blockchain Satoshi Nakamoto think 12 years ago that his development, conceived as an opposition to the state-controlled traditional money, would reach such heights and become one of the most discussed financial assets in the global economic space.
The cryptocurrency boom has become a catalyst for the arrival of many new people on this market, who, first of all, set themselves the goal of making money on instruments growing at a wild pace.
Special trading platforms – exchanges – act as intermediaries in the interaction of users with bitcoin and other cryptocurrencies (altcoins). It is here that a huge number of traders place their orders to buy and sell digital currencies, and special algorithms “bring together” buyers and sellers.
How do crypto exchanges work?
A cryptocurrency exchange is the same market where there are two sides – a buyer and a seller. The first one wants to buy profitably, and the second one wants to sell it no less profitably. The goal of everyone is to make money on the price difference of a certain asset (bitcoin, ethereum, etc.) during the exchange ethereum to bitcoin.
All crypto exchanges work the same way: a buyer wants to buy a coin and places a corresponding request – for example, “I want to buy bitcoin at $ 30,000”. Of course, if at this moment BTC costs $ 40,000, then you cannot count on a quick deal – you need to wait until the rate drops to this mark, and some of the sellers will consider it acceptable to sell their bitcoins at such a price. Then he, in turn, will place another order – “I want to sell bitcoin at $ 30,000” – in this case, the exchange brings these two parties together, and the deal is automatically closed.
The algorithm of the cryptocurrency exchange is simple:
- the seller creates an order to sell bitcoin (or any other coin);
- the buyer creates an order to buy;
- all this happens automatically.
The exchange in real time determines whether there is an intersection of price interests in the order book, and if there is, the orders cover each other, and a deal takes place.
The only drawback in this whole system is the limited trading pairs. Exchanges cannot offer assets for transactions, the demand for which is not the highest (illiquid pairs). To realize this opportunity, they simply do not have enough technical resources.
Therefore, on such platforms, you can very often find trading pairs with the most famous quoted currencies such as ETH / BTC, XRP / ETH, BTC / USDT, etc. That is, if you have, say, DASH tokens, and you want to buy, for example, DOGE for them, you cannot do it with one deal on the DOGE / DASH pair – it simply will not be available on the site due to low demand for such operations. Therefore, you first have to sell DASH for Bitcoin and then buy DOGE for BTC (DOGE / BTC). This entails wasted time and additional fees.
In this regard, the 50x.com exchange is of interest – it is built on a completely different technology and just offers users the opportunity to trade cryptocurrencies in the “any to any” mode.
The aforementioned DOGE / DASH trading pair is available on 50x.com, however, like any other – here you can take any coin and pair it with anyone and xlm exchange.
This became possible thanks to the unique technology of the Any2Any quantum core, which provides an instant liquidity flow to other exchange pairs and instantly closes a deal even for the most unclaimed assets.
At the same time, all the functionality of ordinary exchange trading is preserved – the best price for transactions, all types of orders, etc.