#Binance coin software#
If you have more trade requests than your matching software can handle, orders will be delayed. This order matching creates a bottleneck for many cryptocurrency exchanges. When an exchange matches buy/sell orders and completes a trade, it charges a transaction fee to both parties for the service of finding a match. This matching of buy/sell orders is the key function of an exchange. Instead, the exchange matches you with another user who is willing to buy your asset at the price your asking. It’s important to note that the exchange itself does not buy and sell your currency when you make an exchange. MatchingĪ typical exchange works as a market maker for buy and sell orders. Solving some technical problems with exchange software is among Binance’s key competitive advantages. How Exchanges Work: Understanding Binance’s Advantageįirst, it’s worth understanding the basic mechanics of a currency exchange before we go any further. How Exchanges Work: Understanding Binance’s Advantage.In this guide we’ll discover the following: The simplicity of Binance’s business model has been the key to its success so far, and it bodes well for future success. What about Binance makes it so compelling? Why are so many people signing up to use this exchange? In this article, we’ll dive into those questions and more.
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