One of the widely discussed topics among the cryptocurrency traders is nothing but the differences between the Centralised cryptocurrency vs decentralised cryptocurrency exchanges. This discussion provides many kinds of perceptions each time when it arises. Introduction and innovation of various features and options in both the type of exchanges made the debate grow stronger.
As we all know that the centralised exchange is handled by an individual and they can handle and control the entire exchange. The decentralised exchange, on the other hand, is a completely automated platform. It does not possess any individual handling the operations behind it and everything is automated.
Though the decentralised exchange is automated thoroughly, the centralised exchange stands reliable and more dependable than the former. Some of the features that provide an advantage for the centralised exchange than the decentralised exchange are as follows:
KYC/AML:
Knowing the customer or the trader who uses the platform provides a huge relief for the entrepreneur or the shareholder. By knowing and by allowing the known person to use the platform and to trade only after analysing the background averts huge distress and reduces the vulnerability.
Off-Chain Internal Transfer:
An innovative feature introduced in centralised cryptocurrency exchange software is an off-chain transfer mechanism. The user can transfer the funds available in his wallet to the other user of the same platform just by using the email ID or the customer ID instantly. This will not be registered in the blockchain and there will not be any transaction fee for this.
Dispute System:
If anything goes wrong the trader or the user can rely on the admin and an effective dispute system will help the user to get rid of all the types of issues. This improves the brand value of the exchange and it increases the user database thus directly rises the revenue of the system.
Being a front runner type of exchange and being a successful business model, it induces and creates many entrepreneurial opportunities. With the help of the Whitelabel cryptocurrency exchange script of popular centralised exchange solutions like Poloniex and Bitstamp, one can launch their own cryptocurrency exchange platform.
Hashogen technologies is one of the leading blockchain development company and cryptocurrency exchange development company that offers ready to launch Bitcoin Exchange Software that can be introduced in the market within 3 to 5 working days. At an affordable cost, Hashogen Technologies offers the support and upgrades that are unmatched by its competitors and provides assistance for the entrepreneurs willing to start their own exchange platform.
Source: https://cryptoexchangesoftwares.wordpress.com/2020/05/01/centralised-vs-decentralised-cryptocurrency-exchange/
As we all know that the centralised exchange is handled by an individual and they can handle and control the entire exchange. The decentralised exchange, on the other hand, is a completely automated platform. It does not possess any individual handling the operations behind it and everything is automated.
Though the decentralised exchange is automated thoroughly, the centralised exchange stands reliable and more dependable than the former. Some of the features that provide an advantage for the centralised exchange than the decentralised exchange are as follows:
KYC/AML:
Knowing the customer or the trader who uses the platform provides a huge relief for the entrepreneur or the shareholder. By knowing and by allowing the known person to use the platform and to trade only after analysing the background averts huge distress and reduces the vulnerability.
Off-Chain Internal Transfer:
An innovative feature introduced in centralised cryptocurrency exchange software is an off-chain transfer mechanism. The user can transfer the funds available in his wallet to the other user of the same platform just by using the email ID or the customer ID instantly. This will not be registered in the blockchain and there will not be any transaction fee for this.
Dispute System:
If anything goes wrong the trader or the user can rely on the admin and an effective dispute system will help the user to get rid of all the types of issues. This improves the brand value of the exchange and it increases the user database thus directly rises the revenue of the system.
Being a front runner type of exchange and being a successful business model, it induces and creates many entrepreneurial opportunities. With the help of the Whitelabel cryptocurrency exchange script of popular centralised exchange solutions like Poloniex and Bitstamp, one can launch their own cryptocurrency exchange platform.
Hashogen technologies is one of the leading blockchain development company and cryptocurrency exchange development company that offers ready to launch Bitcoin Exchange Software that can be introduced in the market within 3 to 5 working days. At an affordable cost, Hashogen Technologies offers the support and upgrades that are unmatched by its competitors and provides assistance for the entrepreneurs willing to start their own exchange platform.
Source: https://cryptoexchangesoftwares.wordpress.com/2020/05/01/centralised-vs-decentralised-cryptocurrency-exchange/
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