Important Things About Cryptocurrency Market Making

Starting the crypto space will be quite complicated for the ones who used to do traditional markets. There will be special terms that are used in crypto trading. The trading is operating 24/7. The one which holds a crucial role is marker makers.

Market making is a process to bring buyer and seller together and make a marketplace, in this case, the digital assets. The market makers obtain the profit on the spread between sell and buy prices. They also make sure that Crypto trading will run smoothly and efficiently.

What Are The Main Activities Of Market Makers?

Market makers arrange and organize the trading activity in the “order book”. There will be two types of orders that can be submitted to the order book. Those are market order and limit order. Let’s discuss more them.

• Market order. The transaction is executed at the current available market price immediately.
• Limit order. It is the order to buy or sell an asset at no more than a specific price.

In fact, actually, the main objective of a market maker is to make a successful and active market for the investors to buy and sell their assets. They will make sure that the highest and lowest prices of assets are not too far apart.

What Is The Biggest Crypto Market Maker?

Recently, there are so many market makers, but below are the four biggest market makers in the world.

• Binance

Recently, it is the largest cryptocurrency exchange in the world. I was established in 2017 and registered in Cayman Island, Maldives. Binance’s founder is Changpeng Zhao and is estimated worth $300 billion. The company’s headquarter is in China. The company has released two cryptocurrencies, those are Binance Coin (BNB) in 2017 and Binance Smart Chain (BSC) in 2020.

Binance became the third highest market capitalization in 2021. Binance smart chain is operated by using a combination of stake proof and authority proof. More than 500 cryptocurrencies and the Binance coin could be the top choice for active traders.

Binance has been considered a safe exchange because it allows the traders to use Two Factor Authentication (2FA). However, in 2019, Binance suffered a big hack in which 7000 Bitcoins were stolen from the exchange.

Keep in mind that you can definitely withdraw your money from your Binance account. However, you will need to go through some specific processes. Binance might charge 0,5% for the instant buy or sell bitcoin and 4.5% for a debit card transfer.

• Biconomy Exchange (BICO)

Biconomy is a blockchain platform for the transaction which was founded by three Indian founders – Aniket Jindal, Ahmed Al-Balaghi, and Schin Tomar in 2019 and has risen funds around $9 million from the investors. Biconomy is hosted for Ethereum Coin.

Biconomy could be utilized to pay the network fee. Some regions supporting BICO such as the United States, New York, Canada, Europe, the United Kingdom, Denmark, Singapore, and Japan. By 2024, the trading analysts predict that Biconomy will start at $1,88 and trade at around %2,54. This would be higher compared to last year.

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• CoinFLEX

CoinFLEX stands for The Coin Future Lending Exchange. It offers delivered futures physically. It was established in 2019 by Mark Lamb and Sudhu Arumugam. The headquarter is in Hong Kong. Then in July 2019, the FLEX coin was launched. The products of this company are Bitcoin, Ethereum, and Bitcoin Cash.

CoinFLEX is considered one of the top crypto exchanges. Most all cryptocurrencies are available on this platform. The Crypto coins can be transferred and withdrawn to bank accounts, other crypto wallets, or even electronic wallets.

CoinFLEX has a trusted mobile application with a standard referral program and offers many additional features that most companies do not offer. Here the distribution of CoinFLEX traders in the world: United States 56.4 %, Indonesia 16.3 %, India 11.9 %, United Kingdom 8.9 %, Canada 3.3 %, Turkey 1.5 %, Egypt 0.5 %, Australia 0.4 %, Philippines 0.1 %, China 0.1 % and others 0.6 %.

• CITEX

CITEX is a centralized exchange established in 2018 based in South Korea. However, it is registered in the British Virgin Islands. The headquarter is in Shenzhen, Guangdong, China. The mission of the company is to be open, equal, transparent, and cooperative.

The platform provides in four languages: English, Chinese, Korean, and Vietnamese. Based on the language list, it is primarily for Asian traders. Moreover, CITEX operates also in Europe, Africa, and South America.

The application could be downloaded from CITEX’s official website. It supports more than 80 coins and 200 pairs. To deposit in CITEX, you can not use a credit card, but it offers a wire transfer as a method for a balance deposit.

Do you wonder, how much the CITEX fee is? The deposit is free on the platform. The fee for trading for makers and takers is 0,2%. However, You do not need to worry as there will be a discount offered to the traders. If you want to withdraw your digital assets, the fee will be depended on the amount you will claim.

Liquidex

Liquidex is a company focusing on technology that provides you easy access to market making for your digital asses exchanges. With its digital one-stop shop for market making, the investor can easily choose the pricing and continue with the onboarding process.

Liquidex actively trades on the top crypto exchange. It has connected to more than 120 exchanges over the world. Liquidex is making a very good connection to all partners through cryptocurrency trading. Each partner will build mutually benefit relation and create the best services.