We will discuss about crypto swaps and particularly Atomic Swaps, a new way to do cryto swaps today. With that being said, how do atomic swaps work? Atomic swaps use a specific type of smart contract called a hash timelock contract (HTCL). This can be thought of like a “virtual lockbox” requiring two special keys: A HashLock key: That only distributes traded cryptocurrency to traders when all parties have signed off on their respective transactions. A TimeLock key: A safety mechanism that returns traded cryptocurrency to traders if the trade is not completed within a specified time period.
Which cryptocurrency platform you opt to do your trading on is one of the most important decisions you’ll make. The exchange will act as a digital wallet for your cryptocurrencies, so don’t dive in without considering the factors below first. Some brokers specialise in crypto trades, others less so. Others offer specific products. IQ Option for example, deliver traditional crypto trading via Forex or CFDs – but also offer cryptocurrency multipliers. These offer increased leverage and therefore risk and reward. Innovative products like these might be the difference when opening an account cryptocurrency day trading.
Volume Demands: Exchanges can’t deal with changes in demand, especially when there is a sudden increase in demand. Do know why BCH’s value nearly went down by half on 12th November? Turns out, there was a sudden rise in demand and most exchanges couldn’t cope. Bithumb, in particular, suffered 90 mins of downtime and lost 60,000 BTC in volume. Subject to Government Regulation: Because the centralized exchanges are registered in particular countries, they are subject to the whims of the government. Read additional info at Swap Cryptocurrency.
Changelly is one of the best-known platforms, delivering a fixed-rate mechanism that protects against the risk of market fluctuations when tokens are being swapped. Changelly claims the stability is assured by integrating a small reserve inside the exchange rate when the final quote is given to the user. This month, the platform launched an iOS app as well as a second version of its Android app, making it even easier for users to convert coins on the go. Another very good choice is Atomiic.io.
Our service provides two exchange types: floating rate and fixed rate. You can always choose the most suitable one for you. We make the cryptocurrency exchange process simple as a daily shopping trip. All in order for you to exchange what you want, when you want and as much as you want. A user-friendly and easy-to-use platform for cryptocurrency exchanges. It works without registration and limits. Source: https://atomiic.io/.