If you are looking for crypto trading platforms, there are several cryptocurrency exchange sites available but you have to consider some of the essential factors before choosing it. But selecting the best one is always difficult and challenging as you need to gain a profit. Don't get into the wrong platform that leads to potential loss and waste of effort. Therefore, you have to choose the right platform that meets your trading requirements.
For better options, you need to decide whether your trading is long-term or just frequent changes in regular aspects. The right platform will help users to buy, sell, and trade their cryptocurrencies safe and at ease. Koinbazar - one of the best centralized p2p cryptocurrency exchange platform allows users to buy, sell, and trade their assets. And also it comes with a crypto wallet that helps to store your cryptocurrencies for a long term or frequent trading.
In this article, we will help in choosing the best platform as per your expectations. And also you will find the crucial factors to look up before selecting the best cryptocurrency exchange platform.
Important aspects to look for cryptocurrency or bitcoin exchange:
AML or KYC:
Every cryptocurrency exchange sites follow different laws. It depends on the offering, practices, and, locations of the cryptocurrencies such as BTC, ETH, and others. Some of the platforms demand KYC (Know Your Customer) or AML (Anti-Money Laundering process. These practices are proposed for the users to submit some of their personal information which is required for creating their account and performs the exchange process.
Reputation of the crypto exchange platform:
Cryptocurrency is a massive industry today and gaining a lot of reputation in the market. Before picking the crypto exchange platform, reputation is essential for considering it. Because, some of the exchange sites have resulted in scams, hacks, and others. Before choosing the platform, you need to do proper research about the website to make sure that it is highly reputed. From this, you will get to know about the efficiency of the platform. However, you can also check out the terms and conditions of all exchange platforms to ensure that there is nothing doubtful in it.
Almost all exchange platforms offer high security that helps to keep your investments and trading process safe. You need to make sure that the exchange sites offer two-factor authentication or not. In addition to this, you also need to consider whether it is compatible with google authentication or not. Because you can ensure better security for your exchange platforms. There are several safety measures that you need to look at before investing in any of the exchange sites. Some other security aspects are SSL certification, cold storage wallets. This security feature offers different trading experiences to the users.
Available in your country:
Not all platforms are available for the trading process worldwide. To ensure that the exchange website is available for your country or not. Many financial regulations are there which creates an impact on the cryptocurrency market. Keeping this aside, the regional factor is important to consider as some of the exchange platforms won't allow trading in different countries rather than the one which is based on the country where the exchange platform available. However, do some research and ensure that you choose the right crypto exchange.
You need to check out the trading fee which is charged by the exchange platform. You can buy cryptocurrency with exchange websites to ensure that you save some amount of money. A specific trading fee is there for every time you buy, sell, and trade cryptocurrency from the exchange platform. For daily traders, it is one of the crucial factors to consider. So, look for the platform who charges low trading fees.
Availability of cryptocurrency:
Before choosing the best exchange platform, you need to look at the availability of cryptocurrency options with the site. There should be various digital currencies available for buying, selling, or trading which help users to choose the right ones on the site. Moreover, liquidity is also an important factor that must fill orders on the platform. With the different options available for their choice, users will invest in the right one to gain profitable outcomes in the long run.
The above-mentioned factors are important aspects to consider before you choosing the best cryptocurrency exchange platform for trading, buying, or selling cryptocurrencies. It might be tough to choose if you are a beginner. So, buy cryptocurrency such as bitcoin, ETH, or any other crypto coins after checking all the above factors. There are many spam and fraudulent sites which have resulted in a financial loss for many crypto traders. So, to keep your assets safe, go-through all aspects of the exchange platform that are mentioned clearly to pick and invest on the right platform.
Cryptocurrency Exchange has become one of the most trending businesses all over the world. Because In future peoples will use cryptocurrency instead of traditional currencies. Here, we have mentioned the list of Top 8 Crypto exchange platform for the traders in 2020.
In today’s modern business world, cryptocurrency has become one of the most trending businesses all over the world. It uses a decentralized technology that works based on peer-to-peer (P2P) Networks. Likewise, another kind of money transaction system, you need a bank account, and also sufficient balance is essential for exchanging currencies. There are several reliable and secured cryptocurrency exchange platforms available to buy (or) sell all kinds of cryptocurrencies.
Best Cryptocurrency Exchange Platforms:
Cryptocurrency Exchange Platform is a Website where we can sell, buy and trade digital and other traditional currencies like USD, EURO, Etc. Here, we going to talk about the best crypto exchange websites is going to be in 2020.
Kraken is one of the cryptocurrency exchange platforms and it will be very useful for beginners who can buy and trade their virtual currency. This platform will guide you to know about the cryptocurrency and also can become an expert as well in the future. This platform helps to change the perspective of thinking of how peoples understand finance and money. Kraken highly focused on safety and security purposes for its clients to avoid any suspicious activities. Kraken Provides 24/7 global support to maintain perfect communication with the clients. Kraken has advanced features which help to record your financial resources. Even more, you can make decisions to enhance your portfolio and also find your investment pair.
Bittrex is one of the most popular cryptocurrency exchanges and trading platforms. Bittrex uses cutting edge technologies for bringing a new revolution to know about cryptocurrencies worldwide. The main goal of Bittrex is to provide a secure platform for the clients for trading and also helps to change its way to reduce the transaction time. Bittrex generates Dynamic API, and its algorithmic trading help traders to integrate the third-party trading platforms. It has a modernized approach that helps to store the token order details and digital wallets provided for making instant trading.
When comes to talk about cryptocurrency exchange platforms, Bitfinex is one of the popular websites. We can track the peoples who are interested in selling and buying cryptocurrency for a particular financial purpose. In order to become an authorized dealer, you need a smartphone. Bitfinex provides an interactive graphical user interface and free demos which helps the users to know more about this platform. It mostly supports all kind of cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Monero, EOS, Dash, Ripple, Litecoin (LTC), NEO, Tether and all other digital currencies. Bitfinex helps to trade your virtual currency and get the best feasible rate at the specified duration of time. By their P2P trading platform, you can strengthen your portfolio and helps to attract the traders who can demand your digital assets.
Binance is the most trending and demanding crypto exchange platform. Millions of traders are still using this platform for their crypto business. Because of huge demand, binance previously have shutdown their registration process for the new traders to avoid the crash of the platform. Many companies have started providing binance clone script for business peoples who are interested in developing a platform like Binance. If you are a newbie, this platform will help and guide you to become a masterpiece in the crypto business by its multi-dimensional graphical UI/UX interface and frameworks. Binance provides separate functionalities for managing the clients, data, and application processing to make ease to handle. It has capable of processing 1,40,000 orders per second. Binance platform is available in both mobile applications as well as in desktop apps for Mac and Windows. A multi-dimensional approach and cluster techniques are available behind the secured trading process.
Poloniex is suddenly a grown cryptocurrency exchange platform with a doubled number of customers and also monthly traffic. The reason behind this is, bitcoin — the Highest exchanging and trading process have done and became a popular website among the traders and investors. You can do any kind of cryptocurrency transaction and the trading fee is below 0.20%. In the Poloniex crypto exchange website, you can trade all kinds of cryptocurrencies and also focused mainly on secured transactions. You can store much information offline and also the exact amount of funds required to establish the flawless trading.
CEX.IO is the most trusted and reliable crypto exchange platform having more than 3,000,000 customers take part in cryptocurrency trading. It’s a perfect place to exchange and trade your Bitcoins (BTC). If you need to deposit your funds for trading Bitcoins using Visa/Maestro card. CEX.IO protects traders from a negative experience and also increases the performance of trade up to 10x. This platform allows the user to check their balance in the wallet, transaction history performed in their accounts, and gives transparency while generating reports.
We can consider Coinbase as the top crypto trading platform for traders and also the largest bitcoin exchange platform among various crypto exchange websites. Coinbase is a trendy platform because of its security and liquidity. Coinbase has many significant features like wallet, API for developers to connect with third-party apps, and trading. Coinbase is a simple platform for beginners and can be easily understandable. The purpose of a platform designed in the simplest way for new visitors who needs to know about the concept of Bitcoin (BTC). You can buy Bitcoins using a visa, maestro card, and also by credit card. Coinbase manages huge customers still you can do your transaction purpose in a short period of time. Coinbase provides you a wallet where you can store your digital currency.
LocalBitcoins is an eminent crypto exchange platform where you can buy (or) sell your Bitcoins (BTC) at a specific value which is totally controlled by you. This platform will detect a person’s location automatically and show the present value of his/her different cryptocurrencies. You can do payments through various local online payment gateways. In the LocalBitcoins website, starting from account creation to a digital wallet the process is straightforward and all the steps will be able to do within a few minutes. It offers high security that works on the basis of Peer-to-Peer (P2P) networks. This platform performs human to human communication to buy (or) sell your own virtual currencies. It supports a wide range of payment methods but the exchange rate is so high.
Cryptocurrency might be the trendsetter in the future and it will have a chance to replace traditional currency. Every day the demand and price of cryptocurrency are getting higher. If you are not aware of this concept, this is the right time to start your journey. You can explore the above-mentioned crypto exchange platform and some of the elements like exchange cost, payment methods, account management, security, and deposit types should keep in mind while choosing the best cryptocurrency exchange website for you.
Are you an Entrepreneur? Do you have a plan to start your own crypto trading business in the future? You should either hire a leading cryptocurrency exchange development company (or) freelancing developers who provide you the best crypto exchange websites which make you be stand alone from the competitors.
To launch a successful cryptocurrency Exchange software, it is crucial to check that your crypto-exchange has high liquidity or not. Before understanding how to gain high liquidity, lets us discuss briefly what is liquidity and why it is important?.
What is Liquidity?
Generally, liquidity is the degree whereas a digital asset can buy (or) sell for cash without affecting the cost of your asset. For the reason, the concept of liquidity in cryptocurrency indicates that exchanging orders are matched with each other in the minimum time. Higher the liquidity in your crypto-trading platform, the cost of cryptocurrency also would be high.
Let us consider, world's most popular crypto exchange platform like Binance (or) Coinbase, because of high liquidity in the platform, they are achieving to a greater extent.
What does cryptocurrency liquidity providers do?
Cryptocurrency is unstable - that is the cost may vary each day. Market makers (or) liquidity providers play an important role in keeping up the stability by enhancing the trading volume. Moreover, marketers don't work for free and they are making plenty of money from this business. They play on the price gap of cryptocurrency exchange and also chare an extra commission fee for each transaction.
Achieve high liquidity in Your crypto-trading platform:
If the liquidity is low, crypto-exchanges usually try to engage market makers by the following methods:
- Reducing the maker trading feeds.
- sharing a profit from the taker feeds.
- Provide payments to the market makers for their activity.
How to Choose the best cryptocurrency liquidity solution providers?
If you are looking for the top cryptocurrency liquidity providers, it is important to know that they can satisfy your following criteria.
Depth of Market:
Understanding market depth is an essential one. This shows the indication of the liquidity and depth for a particular cryptocurrency. The higher the number of exchange orders at each price, the higher the depth of the market.
Liquidity provider/market maker should provide a fast trade execution with requotes or slippage at the time of high impact.
A liquidity provider's price offering should include the more competitive spreads as well as low commissions and swaps with no compromises on each side.
A liquidity market maker must offer client data feeds that are more stable and reliable. The feeds of the price should reflect the real-time prices from all the relevant exchanges as well as the interbank forex market. Any kind of delay in delivering the price data may result in the gap.
Your liquidity market maker should be responsible and more efficient in completing their daily tasks. Though many deviations could happen at the time of certain circumstances. To avoid this, an automated trading server should be offered to every person who is collaborating with the liquidity providers to check the transactions.
Build Your Cryptocurrency Exchange Platform with the High Liquidity:
From the above discussion, we can understand that liquidity is an important one for any kind of cryptocurrency trading platform. We, At Osiz Technologies - A leading cryptocurrency exchange development company offers an end-to-end cryptocurrency exchange development services integrated with the high liquidity and security features.
And also, we provide white-label crypto-exchange solutions that aid to launch any kind of exchange platform within 7 days. On the other hand, we can also build customized crypto-exchange software from scratch according to your business needs.
In recent years, many companies all over the globe are planning to deploy Blockchain technology into their business. This is mainly because of the increasing value of digital currencies. The popularity of the cryptocurrency has reached peaks because all merchants are ready to integrate payments with crypto coins, and in return, they get a huge profit.
This massive adoption showed an impact in all digital currencies like Bitcoins, Litecoin and digital coins.
Developing your own exchange platform equals developing corporations. Definitely, this is not going to be easy until or unless you get to know more about cryptocurrency exchange software. Before getting into the exchange development, you must have excellent knowledge of programming and designing skills.
If you are looking to start up your own cryptocurrency exchange platform, then this step by step guide will take you in the right direction.
Here are the top five basic steps to kick start cryptocurrency exchange platform
1. Designing phase:
The first and foremost thing for developing any software is to set up a design. So, as said earlier, to develop such basic design, one has to have vast knowledge about designing tools like CSS, HTML and the backend technologies etc. The design should be user- friendly so that people can use them efficiently.
2. API ( Application Program Interface )
Once the design of your framework is done, then comes the backend part of the application. The API (application program interface) mainly focuses on developing the admin panel, user authentication and much more. As the name implies it’s the backend process, this is not visible to end-users.
3. Injecting Blockchain
It is the most crucial phase in developing the exchange platform. Once the design and the API are done, inject blockchain technology into your crypto exchange software. The blockchain is nothing but simply a storage box where all your data is stored with cryptographic encryption. Each time when the transaction occurs between 2 parties, all the data is stored in the blockchain ledger.
4. Testing phase
Every software has to reach this phase mandatorily. Once the setup is done, the software has to be tested. If there is any bug or any minor malfunctioning happening in the software, then it is identified in this testing phase and rectified. After this is done, the exchange platform is ready to launch.
5. Privacy and security control
The privacy of the data is one of the most concerning attributes while developing exchange software. One layer of security is not enough for making leading cryptocurrency exchange business because that can lead to loss of users' crypto coins. So it's always better to have a two-layer security feature for user accounts by adding a one-time passcode facility, alert messages if any transaction has been made.
That's it, this our beginner's guide. We hope this article has clarified some doubts and will help you to understand better about the cryptocurrency exchange platform. Either way, if you have any questions or opinions, don't just hold back. Please shoot us on the comments below!