How does a cryptocurrency exchange work in terms of matching buy and sell orders?

3 answers

• Jan 14, 2022 · 3 years ago
  When a buy order is placed on a cryptocurrency exchange, the exchange's matching engine searches for a corresponding sell order that matches the desired price and quantity. Once a match is found, the trade is executed and the buyer receives the purchased cryptocurrency while the seller receives the corresponding amount of funds. This process is automated and happens in real-time, ensuring efficient and fair trading on the exchange.
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• Jan 14, 2022 · 3 years ago
  Matching buy and sell orders on a cryptocurrency exchange is like finding the perfect match on a dating app. The exchange's matching engine acts as the matchmaker, pairing buyers and sellers based on their desired price and quantity. It's all about finding the right match at the right time to facilitate smooth transactions and keep the market moving.
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• Jan 14, 2022 · 3 years ago
  At BYDFi, our cryptocurrency exchange works by matching buy and sell orders through our advanced matching engine. When a buy order is placed, our system scans the order book to find a sell order that matches the desired price and quantity. Once a match is found, the trade is executed and both parties involved in the transaction can proceed with their desired actions. This process ensures fair and efficient trading on our platform.
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