Matching is carried out on the trading platform, the buying and selling prices are made public, and the platform displays the current quotes in real time. This is called on-site trading.
Example:
For example, if you want to buy 1 Bitcoin, and you see that the current price is 10,000 yuan, you think it is a bit high and want to buy it at 9,900 yuan.
You can directly place a purchase order of 9,900 yuan. If someone sells at this price, then your purchase order is successful. At this time, you will get 1 Bitcoin into your account.
Because the platform helps you to make the deal, similar to stocks, you don’t know who the other party is with whom you are doing the transaction, nor do you need to know who sold 1 Bitcoin to you. It could be one person or many people.
Trading Bitcoin on an exchange is a lot like buying and selling stocks, but with a few differences.
In China, the A-share stock trading hours are from 9:30 am to 3:00 pm from Monday to Friday. my country's stocks have a 10% limit on price fluctuations and a T+1 system, which means that stocks bought on the same day cannot be sold until the next trading day.
The on-site trading of Bitcoin is a global 24-hour transaction with no opening time and no limit on price fluctuations. All transactions are T+0 and can be purchased at any time on the site.
After buying, you can withdraw from the platform at any time.
Pros and cons of on-exchange trading
advantage:
There is no need to stay online to complete the transaction, you only need to set the price and entrust the exchange to complete the transaction.
There is no need to find a specific buyer or seller, the platform will automatically match you.
You can set the expected transaction price and limit price trading
shortcoming:
All domestic on-site transactions are currency-to-currency transactions and cannot be purchased directly with RMB.