An order book is a list of all open orders that are currently available on an exchange. The order book is split into two halves - the buyers and sellers. Imagine an order book as if it were a marketplace of its own. This is the place where both buyers and sellers meet to exchange either FIAT for Crypto, or Crypto for FIAT.
The order book is a useful tool that provides real-time data and is a visual aid offering precise information in relation to the aggregate demand and aggregate supply of a particular asset. Order books can vary in appearance between different exchanges, however the primary function and purpose will be near identical.
Each entry in the buys order book will show the price that people want to buy at and how much they are prepared to buy. Inversely, sellers will list what price they want to sell at and how much to sell. With this information, it's easy to appreciate that serious traders find considerable value from order books as they are able to determine potential for both resistance and support levels of an asset price.
When a seller and a buyer both agree on a price, a trade happens and the coins/tokens change ownership.
Swyftx does not provide an order book of its own, instead, it sources order book liquidity (buyers & sellers) from multiple global exchanges, including Binance, to deliver you the best possible prices and spreads.
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