There’s no better solution than building your own crypto exchange for your business, especially in the current scenario we are in. The world seems to have turned upside down due to the Covid-19 outbreak that is revolving around us. People are staying put in their houses, completely out of access to everything. While the economy is also starting to take a downfall, traditional businesses are going through a tough time, and people have started relying more towards online platforms to fulfill their needs.

With the market prices taking a slide during this pandemic, like the downfall in the forex exchanges, stock exchanges and bitcoin prices, crypto exchange seems to be the perfect solution that rightly fits the customer needs and a business that might ensure safer returns. Anyone from anywhere around the world with an internet connection can trade with cryptocurrencies. And particularly at this time, when online is the only source, building your own cryptocurrency exchange software will bring in ample investors for your business, thereby ample profits.
AnnaLisbeth 18 june 2020, 9:23

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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.


Closure

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!

lillian 15 june 2020, 9:40

Hire a highly qualified and experienced team of experts from CES to achieve the most robust cryptocurrency exchange development services for any type of exchanges that you want to build such as centralized, decentralized, hybrid exchanges. We integrate the top trending features, security protocols, cutting-edge blockchain technology and advanced UX/UI, which will drive global potential customers towards the exchange, thereby amplifying profits.
AnnaLisbeth 15 june 2020, 9:32

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* Cryptocurrency grabs the attention of financial experts, investors, and traders due to its growing market value. Bitcoin was the first cryptocurrency ever, and it stands top in the space even now. The bitcoin has surpassed many chaotic arguments, undesirable judgments about its value, and has now proved itself at the rapid growth crypto market. As of now, BTC has aspired around 5000+ cryptocurrencies to evolve in the crypto market space.

* Trading the cryptocurrencies for distinct coin pairs and liquidity renders lucrative deals to the crypto owners. The crypto traders are fond of arbitrage, market making, and mirroring strategy experiments. Every active crypto trader has an account in the renowned cryptocurrency exchange platform of their choice!

In this post, let’s have a brief discussion about cryptocurrency exchange platforms!

Cryptocurrency exchange platforms- A Kick-start!

* A cryptocurrency exchange platform is a channel that allows its users to buy/sell distinct crypto coins to make profitable deals. The users can buy crypto coins in exchange for fiat money and vice versa. Every crypto owner would have come across the exchange platform at least once in a lifetime!

* Crypto exchange platforms are sub-categorized into centralized and decentralized crypto exchanges. Most of the exchange platforms afford their users with an integrated multi-cryptocurrency wallet to store and trade their crypto assets.

Now, let’s have a glance at how you can build a cryptocurrency exchange platform!

How to build a cryptocurrency exchange platform?

1. You can build your cryptocurrency exchange platform in two popular techniques. The first and foremost is to approach a cryptocurrency exchange development company and build the platform right from scratch.

2. The other option is to purchase a white-label cryptocurrency exchange software and patch up with advanced trading features. You should take immense care while purchasing a white-label script as it deals with the assets of crypto community users!

3. You may be liable to pay penalties and the value of crypto coins stoled in the case of cryptocurrency exchange hacks. Hence, it’s a safe and secure practice to inspect the white-label script purchased!

4. If you’re kick-starting your crypto exchange business, the platform must have some basic attributes to enhance the user experience. Take away these features to build your crypto business firmly!

Take away crypto exchange features!

Let me kick-start your crypto exchange business dreams with bullet shots!

- Multi-factor authentication
- Instant KYC/AML verification process
- Escrow service
- Liquidity API
- Matching Engine
- Intuitive UI
- Customized admin panel

Soon, we expect your cryptocurrency exchange platform to attract more crypto-traders experimenting with their trading strategies!

lillian 12 june 2020, 8:56

"Many budding entrepreneurs are aspiring to embark on the crypto exchange business. But, with the already excessive competition, they are often confused about where to begin? How to launch a cryptocurrency exchange software that will stand out and sustain over the existing competitors? This article is to enlighten you on that.

https://blog.cryptocurrencyexchangescript.com/create-a-well-grounded-cryptocurrency-exchange-software-a-complete-guide/"
AnnaLisbeth 11 june 2020, 9:19

One of the top organizations in the market with a group of crypto and blockchain wizards who will offer the most powerful cryptocurrency exchange development services is, Infinite Block Tech. They endeavor to construct a trade stage that will offer high-availability, security, instant and quick transactions with high-performance of multiple transactions at a time and a seamless business experience to the clients. Their insight and experience will ensure dependability, steadiness and manageability as time goes on for your trade.
Miaperla 27 may 2020, 10:09

Cryptocurrency exchange development services consist of a wide range of services. These include smart contracts, choice of an appropriate platform, incorporation and regulation, banking, security measurements, and blockchain platform stack. Infinite Block Tech’s extensive experience within blockchain development and in the cryptosphere make it your go-to solutions provider in the domain of crypto exchange development.
Miaperla 23 may 2020, 7:22

The trend towards Decentralized exchanges are evidently evolving. Join the trend and make your business preferable to potential investors with our exclusive whitelabel decentralized exchange. Our whitelabel decentralized exchange is fast, highly-secure, scalable and customizable. With the solid technical, features and security integrations, our decentralized software is everything that you need, to transform your business.
AnnaLisbeth 22 may 2020, 8:30

The trend towards Decentralized exchanges are evidently evolving. Join the trend and make your business preferable to potential investors with our exclusive whitelabel decentralized exchange. Our whitelabel decentralized exchange is fast, highly-secure, scalable and customizable. With the solid technical, features and security integrations, our decentralized software is everything that you need, to transform your business.
AnnaLisbeth 22 may 2020, 8:29

Throw away all the stress now and set foot in the cryptosphere in the most efficient way possible with our tailor-made whitelabel crypto exchange software. Our whitelabel software is tried and pre-tested before delivery, therefore is 100% reliable and functional without any glitches. Also, it is readily built with every necessary integration depriving you of development costs and the tension of possessing technical knowledge. All you have to do is buy and install, and your exchange is all set to hit the market.
AnnaLisbeth 21 may 2020, 12:38
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