Cryptocurrency Q&A
How do instant crypto exchanges work?
How do instant crypto exchanges work?
CryptoNinja
Thu Jul 11 2024
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7 answers
1965
I'm curious about how instant crypto exchanges function. Could you explain in a concise manner how they operate? Do they involve a direct swap between two parties without the need for a third-party intermediary? Or is there some form of automated liquidity pool that facilitates these instant transactions? I'm also wondering if these exchanges require users to trust the platform to securely handle their funds, or if they employ decentralized mechanisms to ensure trustlessness. Additionally, how do they ensure the speed and efficiency of these transactions, and what are some of the key factors that contribute to their instant nature?
7 answers
AmethystEcho
Sat Jul 13 2024
Unlike traditional exchanges, where users' assets are held in custody, instant crypto exchanges adopt a different approach.
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Giuseppe
Sat Jul 13 2024
The distinguishing factor between instant crypto exchanges and their traditional counterparts lies primarily in the management of funds.
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Silvia
Fri Jul 12 2024
With instant crypto exchanges, transactions are executed swiftly and securely, with funds deposited directly into the user's personal wallet.
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Matteo
Fri Jul 12 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services that align with this instant and decentralized approach.
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Davide
Fri Jul 12 2024
Specifically, they facilitate the direct deposit of funds into users' wallets, effectively allowing users to maintain custody over their own assets.
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