WazirX has toyed with its matching trade pairs. Seeing this what can be the future of cryptocurrencies in India?

WazirX; India’s most opted cryptocurrency exchange which pulls up its shop every single day. To benefit its customers with a number of features it offers. May it’s about security, paced transactions, simplified Know Your Customer. Or, easy to access design of the exchange.

But apart from all that, a consumer looks for in an exchange the ‘transparency’ which it claims!

 Here, we are talking about the cryptocurrency trading bot of WazirX. Mainly, we mean to talk about the ‘matching trading pairs’ listed in an order book. Yes, don’t furrow!

WazirX thinks nobody will eye on its fault, however, ignorable it seems.

But before we go any further, do you know what’s a ‘matching engine’ is?

A matching engine is the layout which shows ‘trading is complete’ when it’s done. In an order book, ‘matching pairs’ signify the conditions which gives green signal for the execution of trade. Let’s take a look at what are they:

  • Trading is confirmed when the buying and selling rates of crypto coin matches.
  • Trading is confirmed even when the buying rate is higher (a slight higher is even acceptable) than the selling rate.
  • Trading isn’t confirmed if the selling rate is higher (even if a slight higher) than the buying rate. And if, an exchange allows (shows) or is ok with it. Then, there is something fishy!

Yesterday, we came across the unmatched pairs in a matching engine of WazirX (in real time).

Take a look below and you will better understand.

unmatched pairs in a matching engine of WazirX (in real time).

In this screenshot,

  • In the first row, you will see the buying and selling rates are equal.
  • As you scroll your eyes a bit downwards in this click, you will see that the buying rate is lower than the selling rate. Not ideal for a ‘matching engine’.

Here, analyse this one-minute made-up video. You will see that matching pairs doesn’t match!

the exchange is continuously showing unmatched pairs in its order book.

Here, even after a while, it was the same. We were stumbled!

  • In this other screenshot, you will see the buying and selling rates match.
  • And, coming to the rows below, an ideal condition for matching pairs aren’t there. Again the buying rates are lesser than the selling rates.

Here, the exchange is continuously showing unmatched pairs in its order book.

What could be the reason behind it?

Whereas what other cryptocurrency exchanges support is quick matching of trading pairs and in a second the volume disappears!

But here, the pairs weren’t able to match.

Well! Story isn’t over yet. It has more strings to it!

Whereas what other cryptocurrency exchanges support is quick matching of trading pairs and in a second the volume disappears!

But here, the pairs weren’t able to match.

Well! Story isn’t over yet. It has more strings to it!

 

From this, you will see,

  • In the first row, matching pairs has been set correctly.
  • But as we see below, matching pairs doesn’t configure. Simply effecting the trading volumes in consideration.

Clearly in this as well, WazirX has been repeating the same fault over and over again!

The order book continues to go on unreasonable and unjustifiable!

Well! WaxirX does have some kind of explanation for this. But, at our end we can guess a lot of reasons.

Maybe, the cryptocurrency exchange is manipulating its customers while doing so!

Or, maybe, the buyers are enjoying some undue benefits in lieu of this ‘visible mistake’!

Whatever might be the reason, one thing is for sure. It’s not wise for an exchange to mistakenly publicise unmatched buying and selling pairs in its order book. And besides this, think about its current array of customers and many users to come!


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Comment (1)

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  1. Avatar Stremax Oct 31, 2018

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