What is cryptocurrency exchange software development?
Cryptocurrency exchange software is very popular and today transactions in this software are done as trading platforms. It can be said that traders no longer need to do all their transactions in offices and banks. This is a type of trade so that traders can trade virtually and enjoy the trade because this way they can trade anywhere and anytime. Restrictions will also be removed.
You can choose with what features and how you do your trading. In general, it can be said that there are three types of exchange programs, two of which are more common in the trading market. These programs can be centralized or decentralized. In addition, there are programs that are both centralized and decentralized. These trades are called hybrid trades, which are actually a combination of centralized and decentralized trades. By reading this article, you can easily understand the difference between focused and decentralized, and use the definition and characteristics of the two to find out which one you want for yourself.
First, you should know that centralized and decentralized programs have both their fans. But decentralized exchanges seem to be more popular.
Types of platforms available on cryptocurrency websites
Centralized platform: These platforms are connected to a person or center and are managed by it, which is the main feature of these platforms.
Centralized platforms are generally controlled by a government agency or entity. In exchanges that have such platforms, you can use order books for your transactions. Advanced centralized exchanges use technical tools. The good thing about these exchanges is that the response is extremely fast and the speed of your transactions increases. On the other hand, its security is high, and it can not be hacked. The largest exchanges have a centralized platform and have significant liquidity and trading volume. Exchanges such as Binance, Huobi and Coinbase.
Decentralized platforms: These types of platforms are not affiliated with any individual or company, and transactions are done on the basis of smart contracts and in a decentralized manner.
These platforms have different security because there is no possibility of security breaches. Decentralized exchanges are such that the buyer and the seller are automatically connected to each other and traders can easily exchange their tokens. This way they trade faster because there is no intermediary between them. Most decentralized exchanges work with Atrium cryptocurrencies, and some may not even support bitcoin. In addition, decentralized companies do not support Fiat. The problem with such decentralized platforms is that because they are not affiliated with any government, their liquidity is low, and their speed is reduced. The most famous decentralized exchanges are Binance and Uniswap.
Features to be added
• Very useful user dashboard to attract your users
• Encrypted secure transaction with unique security features
• Advanced UI / UX for easy and fast transaction
• Record the complete history of digital currency transactions for assurance
• Immediate communication between buyer and seller
• Perfect trading of digital currencies with commercial features
• Two-step authentication for greater security of traders
• Advanced smart contract to save your traders time
• Payment gateway integration to facilitate payment
• Immediate alert and notification of prices and amounts of currencies for transactions
• Easy to use platform for beginners
How To Use A Development Software?
Your users must register on your platform. Be careful to make the registration process simple for them. Registration in clone scripts are all similar in general, but you can attract the trader with the same steps. Then enter your email or personal phone number and username and after confirming the email, enter the verification code sent to you. To enter and trade, you must obtain KYC / AML certification before starting work. This confirmation is not required, but if an exchange has this feature, it provides better security. To receive confirmation, submit your information and receive confirmation.
You should choose one of the wallets provided in the clone script because you should keep your assets in a safe place so that only you can access them. In addition, allow retailers to use multiple wallets.
You need to top up your account with some cash. So you have to select one of the payment options so that you can use the funds in that account to buy and sell. These methods are the use of bank cards and credit cards with which you can pay the required amount.
Finally, in the notification chart, see which one fits your business needs and select it. Race to make a deal. This is also done by commercial robots and commercial matching engines. After selecting the currency from which trader, you will be asked to pay the specified amount through various payment options. In the meantime, you can chat with the buyer and reach an agreement.
Summing Up
Cryptocurrency Exchange Software Development is a ready-to-launch Cryptocurrency Trading platform inbuilt with advanced features that allow you to launch a profitable cryptocurrency exchange immediately. There are various layers of high security that prevent fraudulent activities and assure that your money would be safe. The flexibility offered with the white label exchange platform empowers any customization to facilitate customers as per their requisites. You get 100% unencrypted source code of this exchange platform. Customize at your will, Add/ Edit any feature easily.