Starting a cryptocurrency exchange platform is no cakewalk, it is a venture that requires a lot of technical expertise and knowledge of this domain. A crypto exchange is accountable for executing the transactions of buying and selling different cryptos. Thus it has been made robust and inclusive so that nothing could go wrong and the users could feel secure. It is only possible when the cryptocurrency exchange platform development is up to the mark.
In this article, we explore the different facets of this platform, so let’s begin.
Table of Contents
What is Currency Exchange?
You may not have indulged in it, but you must have heard about Forex or currency exchange. This is an activity in which different currencies are bought and sold by the different traders. There are various traders who make millions of money with this and it has proved to be one of the most influential trading practices in the world. For buying or selling foreign currency, you have to get associated with an exchange platform that provides this particular service. The exchange body charges some amount of fee and lets you trade in this domain either independently or with the help of a broker.
What is a Cryptocurrency Exchange?
Just like the trading of fiat currency, the crypto coins can be bought and sold with the help of an exchange platform. A cryptocurrency exchange takes the onus of making these transactions seamless and secure in every way. An exchange offers various services that help the traders identify the opportunities and make more profits. These platforms work on the blockchain framework and provide a decentralized environment to the trader. The transactions are kept anonymous while transactions have great speed and fewer charges due to exclusion of all the third parties.
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Call and Whatsapp any time at : +91 7014607737 | Skype : technoloader | Email: [email protected]
How does a cryptocurrency exchange work and why do need it?
Well, the exchange becomes a hub where all the crypto users and come together and engage in buying or selling their assets. Without these platforms, you would have to look individual token holders who could provide you a profitable deal and it is easier said than done, it is actually an uphill battle to find individual buyers and sellers rather than accessing many of them at one juncture.
With the help of cryptocurrency exchanges, we can make things swifter and obtain a great level of profits. Furthermore, they are designed to make transactions better at every front and they succeed in doing that. The fee or commission is very low in comparison to that of fiat which makes crypto a better choice for trading. The exchange platforms can be used by individuals as well as businesses, they can also provide new features and make trading more profitable in some way.
How do I start my own cryptocurrency exchange?
Before you start the development process or gear up for launching, it is essential to look into the regulations regarding the usage of crypto in the region you are in. As we all know that cryptocurrency is considered illegal or fraud by many countries and governments have even banned its buying or selling in their territories. Therefore, before nurturing the thought of running a successful exchange platform, get familiar with the basics.
You must also be familiar with the different types of cryptocurrency exchanges.
Centralized Exchange
Though cryptocurrency works on a decentralized framework the working of an exchange can be controlled by the owner or admin. That’s exactly what happens in a centralized exchange where all the transactions can be monitored. But that does not mean that it does not deliver any benefits of blockchain to its users. The traders get all the advantages of p2p mechanism even in this environment, the only difference is, the transactions and everything else is controlled by someone.
Decentralized Exchange
Here’s our favorite, the decentralized exchange has been the most popular version of crypto exchange because of obvious reasons. With this platform, you get an environment that is totally decentralized and no one controls the activities. It works on an automated blockchain-powered mechanism that does not give leeway for any sort of intrusion in any activity carried out by the platform. It succeeds in maintained a 100% anonymous trading system that works for every single trader. Moreover, there are so many other benefits of using this particular version of exchange and one of them is being open-source.
Hybrid Exchange
A hybrid exchange is a combination of decentralized and centralized both, it has the features of both the platforms and delivers highly positive results due to this attribute. This version of exchange does not fail to ascertain the needs of traders as well as the business and maintain a perfect poise between the two mechanisms. Its optimized working makes crypto trading very streamlined and ekes out conducive outcomes for everyone.
Initial Coin Offering Exchange
This particular exchange platform is dedicated to the ICO projects, all the tokens launched on it belong to some or other crypto-powered fund-raising campaign. With this service, various entrepreneurs have got huge support because they have been able to reach out to many prospective investors. If you enlist the token of your ICO on one such platform, then the chances of success are definitely higher.
Security Token Exchange
This one is totally dedicated to the security tokens that are different from their utility ones. The security tokens are backed against a real currency or commodity and because of this, they are considered a much better choice of crypto investment. Since the attributes are so different, the platforms also have to be run in the same way, hence, you have STO exchanges.
Target Audience
No matter what kind of business you are into, finding target audiences is very crucial. If you have plans to launch your own crypto exchange, then you must find all the regions where you can find the prospective traders. Here’s a list of countries where crypto traders are found in a large number:
- Canada
- The United States
- The United Kingdom
- Switzerland
- Malaysia
- South Korea
- Estonia
- Bermuda
- Luxembourg
- Singapore
- Japan
- Gibraltar
- Switzerland
- Malta
- Columbia
- Vietnam
- Russia
- Australia
- Canada
How does Technoloader help you start a new crypto trading platform?
Technoloader is one of those crypto exchange builders in the world that have acquired expertise in this domain. Our professionals have been engaged in this job since the very beginning of this technology and we are proud to have supported a great number of crypto-based startups. We have mastered the art of developing custom-made crypto exchange platforms that work as per your preferences and needs. If you are thinking of introducing a venture that pertains even remotely to cryptocurrency, blockchain, P2P, smart contract, matching trade engine, or payment gateways, then will be your companion in taking your enterprise to the zenith of its industry.
Quick Contact :
Call and Whatsapp any time at : +91 7014607737 | Skype : technoloader | Email: [email protected]
We empower your crypto exchange platform with the following features:
- API Integration and Liquidity
- Security and Accuracy
- Multi-Sig Wallet Integration
- KYC/AML Verification
- Trade with matching engine
- Advanced & Robust CMS Panel
- Additional features that you can accouter your platform with:
- Trading Bot
- OTC
- Trade Chart and Market Data
- Market Making
- Liquidity Options
- P2P Exchange Option
- Order Bank
- Multi-Currency Pairing
- Margin Trading & Lending
- Atomic Swaps
- Two-Factor Authentication
We provide end-to-end trading platform solution to small and large companies both, with us, you can materialize your vision and make it perpetual.
Quick Contact :
Call and Whatsapp any time at : +91 7014607737 | Skype : technoloader | Email: [email protected]–
