Two operating modes
Cryptoexchanger operating mode
Services for cryptocurrency exchange technology are very similar to bank exchangers, but they differ in the ability to set different modes of operation. Thus, cryptocurrency exchangers can be:
- Automatic - clients exchange request proceeds in automatic mode, with a script. Such operations take only a few minutes, and the mode is considered the most profitable, both for the user and for the owner;
- Semi-automatic - the exchange takes place exclusively with the participation of the operator, as all operations should receive his confirmation. The transaction scheme is: the user transfers the resources, the service operator checks the requisites and makes the transfer on the specified requisites. This mode of operation has its disadvantages, because the speed of transactions directly depends on the operator and his workload.
Automated cryptocurrency exchanger
This type of exchanger allows transactions without employees, only by the platform itself. Fully automated service makes it possible to make an exchange at any time of the day using the crypto-exchange calculator. This will save the client's time, because buy/sell transactions are possible from the comfort of home in a few minutes.
Semi-automatic crypto-exchanger
This mode allows full control over the amount of assets in the accounts of payment systems. The semi-automatic type of exchangers requires an additional intermediate operation with an operator participation to complete the exchange. How it happens - the client makes a request and only after the service operator's approval the exchange is performed.
How does the crypto exchanger work
A cryptocurrency exchange service is a regular online platform using which users can exchange crypto assets for regular fiat money or otherwise. Cryptoexchangers may be online (the transaction is carried out entirely through the website/application) and offline (the application with the amount and details of the crypto-wallet is made on the website, while the funds are deposited through a terminal). The first type of exchange platform is more useful, because you can make an exchange transaction at any convenient time, without exiting your home, which will save you a lot of time.
The principle of cryptocurrency exchangers is simple - it is a service that allows you to exchange fiat funds into cryptocurrency, or in the reverse order. It is also possible to exchange crypto for crypto.
Online cryptocurrency exchanger
The main principle of the online exchange service is that the exchange rate changes in real time. To start using the resource, in most cases, the user must register on the site, then determine the operation to be performed - it can be a purchase or sale of digital funds. Then choose the type of crypto-coin and enter the payment details. This is how the crypto exchange operation is performed.
Most exchange platforms require passing of registration and verification by the client, but there are some platforms that allow using the services absolutely anonymously.
The advantage of online exchangers is ease of use, because, unlike exchanges, users do not need to learn the intricacies of trading. The interface is more intuitive and the exchange process resembles a transaction in a regular online banking.
The ready-box solutions for cryptocurrencies from Exsoft work in these two modes. Here, of course, it is up to the customer to choose which of the modes his future service will work in, or to connect both of them. As practice shows, many users choose to exchange crypto to fiat (and vice versa) both automatic and semi-automatic options, because they quite often buy or sell crypto for cash, which cannot be done through automatic exchangers.
