How to Build Successful Cryptocurrency Exchange Software
Cryptocurrency has become popular in recent times. More and more people from across the globe are showing interest in understanding, buying, and trading cryptocurrency. Even though there are different cryptocurrency trading exchanges in the market, there is a demand for crypto exchanges that offer better services.
A crypto trading exchange is a platform where people buy and sell cryptocurrency. The success of crypto exchange software depends on how secure it is, how fast the transactions are processed, and how many cryptocurrencies it supports. Also, the crypto exchange should allow users to convert crypto to fiat currency and vice versa.
Developing a safe and secure crypto exchange platform is a great way to establish a new business in today’s world. With digital payments being the way to the future, it is time to make the most by releasing a crypto exchange platform in the market.
White label Crypto Software
You would know that developing a cryptocurrency exchange from scratch is no small feat. It involves a lot of money, time, and effort. Not everyone can afford to invest as much money in developing the platform right from step 1.
Well, it is not needed either. You can contact cryptocurrency exchange software developers to provide you with the white-label software and customize it based on the features and services you want to provide to your customers. The software providers will use the existing code to develop a crypto exchange based on your requirements. They also assist you in meeting the local and state regulations for launching a crypto business in your desired region.
Types of Crypto Exchanges
Three types of crypto exchanges are widely used by crypto traders and investors.
- Centralized: These exchanges are traditional crypto platforms that allow users to trade in crypto-crypto pairs or fiat-crypto pairs. The pairings are decided and listed by the exchange.
- Decentralized: These exchanges are based on smart contracts and offer crypto-crypto pairs.
- Hybrid: A hybrid exchange is a combination of both centralized and decentralized versions. It allows fiat-crypto pairing and crypto-crypto pairing and lets users maintain their private keys for increased security.
To decide which kind of platform you want to develop, it is important to research the market where you will be operating the business and understand what the users prefer.
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Features of a Crypto Exchange
Once you have decided the type of exchange, it’s time to consider the features of the crypto exchange software. The following are some of the must-have features of every crypto exchange.
- Admin Panel
The admin panel is for you and your team to keep track of the activities on the exchange and ensure that there are no glitches or malpractices. You will provide data security, transparency, and authority to users to conduct their transactions while also keeping a tab on the exchange to follow the necessary standards and protocols.
- Automated KYC/ AML
KYC verification is compulsory before allowing a user to start transactions on the exchange. The crypto software automates the verification process to save time and make it easy for you and the users. Users don’t have to wait long to get their account verified and trade cryptocurrency.
- Multicurrency Wallets
Do you know that there are more than 1500 digital currencies in the market? While only a handful of them are well-known, you can support as many as you want on the crypto exchange. A wallet that holds multiple cryptocurrencies is a must for every crypto platform.
- SSRF Protection
Server-Side Request Forgery Protection will ensure that the exchange is safe from web attacks. Hackers are using various ways to attack and gain control over crypto exchanges. You need to take all the necessary precautions to safeguard your crypto exchange software.
- Margin Trading
If you are opting for a hybrid crypto exchange platform, offering margin trading services will attract more users. Crypto margin trading is the same as trading in futures and derivates (but using cryptocurrency).
- Payment Gateway Integration
For customers to buy crypto or to convert their cryptocurrency to fiat, they need a payment gateway that allows them to send and withdraw money from their bank accounts. The cryptocurrency exchange software can be integrated with famous payment gateways to facilitate transactions between different currencies and different users.
Conclusion
By using white label crypto software, you can speed up the launch of your exchange and also save the development cost. This will provide you with more opportunities to attract new users and capture the market before competitors.
At Antier Solutions, we provide a white label crypto exchange solution fortified with market-leading features like high TPS (100000 transactions per second), multi-currency wallet, instant KYC and AML, and more. In addition, we specialize in building a custom crypto exchange from the ground up.
Schedule a free demo of our white label crypto exchange software or connect with our subject matter experts to share your needs for a custom exchange to be built from scratch.
