How to become best decentralized market? IC Exchange uprisingSeptember 7, 2018
How is it that some people always use the most reliable bitcoin exchanges? From the slow crumple of crypto altcoin exchange to the never-ending MtGox case – there are some important lessons that everyone can learn. Certainly, recognizing the factors that qualify a good cryptocurrency exchange v.s. a bad one is like recognizing which banks can be trusted and which cannot.
Firstly, no one likes to get over charged. Paying the low-priced fees is always important. Why would deposit methods influence the ranking of an exchange? Because when customers have determined to trust a certain place, they tend to put to the same site. Such manners mean that consumers present to have a range of selection for depositing and withdrawing fiat/crypto. If you are new to bitcoin, you may have heard mainstream media reports about how “bitcoin was hacked” or something similar.
What actually happens is that bitcoin exchanges do themselves get hacked. This has nothing to do with bitcoin the protocol – which remains incredibly secure and has never been compromised since its creation Sometimes we think that the creators actually asked themselves: “how can we make this as hard as possible for new users to understand?” It is really important to start off simple.
Don’t try use a decentralized exchange if this is your first day on bitcoin. It’s good to research each site’s customer service records before depositing. Some places are really fast to respond to customer queries, while others may take days to get back to you.
IC Exchange will be integrated securely with the IC Wallet, IC Brokerage and IC Digital Bank through a user-friendly platform, a full fledge cryptocurrency exchange. The exchange will be listing major coins and newly issued ICOs to provide a complete diversified coin spectrum for market participants.
The coins will be listed against other cryptos, fiat currencies and traditional financial instruments such as ETFs, and commodities. By incorporating the IC Exchange with the other components, investors are able to take a new route in terms of trading their cryptocurrencies and diversifying their portfolios.
The IC Exchange will approve several software solutions from other platform providers and exchanges that can be used for trading. The trade at any online electronic exchange platform happens when the best buy order (order with highest bid price) is matched with the best sell order (order with lowest ask price) on price-time priority basis.
IC Exchange will have a full order book directly connected with major crypto exchanges and global markets. The full order book provides the necessary liquidity to instantly buy and sell crypto pairs with the tightest spreads, which ensures significant volume of transactions from day one. Liquidity will be ensured by linking exchange books under the IC Exchange umbrella.
Meanwhile, the IC Brokerage’s order book will be linked to the actual traditional exchanges such as CME, NASDAQ and others in order to insure execution at the most efficient price without any additional cost by intermediaries. For the delivery of an order in terms of crypto versus traditional assets, the seller will transfer value of the crypto to the buyer’s wallet, and the buyer will transfer value of fiat to the seller’s IC Digital Bank account.
Simultaneously as the order is matched and delivered to the users, the seller’s IC Brokerage account reflects the new fiat value available in the IC Digital Bank account, then the system completes the order by purchasing the user’s choice of traditional asset. In the latter scenario, the active components delivering the order are the IC Wallet, IC Digital Bank, IC Brokerage and the IC Exchange, using the order matching system to connect the buyer and seller together, reads and facilitates the type of transaction and its implications in the Ecosystem.
INGOT will use the Distributed Ledger Platform Asset Issuance Module which will provide its Ecosystem participants with an environment to list their newly issued coins and pair them against fiat and other available cryptocurrencies.