How do digital currency clearing houses work?

1 answers

• Nov 28, 2021 · 3 years ago
  In the case of BYDFi, a digital currency clearing house, the process is similar to other clearing houses. However, BYDFi also offers additional features such as instant settlement and low transaction fees. When a transaction is initiated on BYDFi, the clearing house verifies the transaction details and ensures that both parties have sufficient funds. Once the verification is complete, BYDFi instantly settles the transaction, transferring the digital currency from the sender to the receiver. This fast and efficient process makes BYDFi a popular choice for digital currency traders.
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