In a market that is gradually steering towards digital currency, crypto exchanges play a major role. Facilitating transparent, secure, and swift transactions on a reliable platform is the main aim of offering a crypto exchange platform to the traders.
With much hype and popularity around cryptocurrencies, many entrepreneurs are looking at the digital currency with growing interest. That’s the reason we see new crypto platforms being regularly made available in the market.
But how does one go about the process of establishing and developing a crypto exchange platform? What are the things to consider when planning a new crypto exchange? While we do know about the jurisdiction and regulations, there is much more to the process. Let us start by understanding the different types of crypto exchange platforms.
Types of Crypto Exchange Platforms
The best way to build a crypto platform is to avail the services of crypto exchange development companies who will create the exchange as per the specifications of the owner. One can either choose to use white label crypto software of open-source crypto software to build the platform. But first, the owner should decide which type of crypto exchange they want to build.
- Decentralized Exchange
- Centralized Exchange
- Hybrid Exchange
Features of Crypto Exchanges
Once the exchange owner decides which type of exchange to offer to the traders, it’s time to decide which features to include when developing the platform. The cryptocurrency exchange software can be customized to add and create new features so that the platform will have something new to offer to the traders. However, there are certain compulsory features every crypto platform should provide the traders.
- 24×7 customer service
- Easy deposits and withdrawals
- Support for Android and iOS
- Multilingual support
- Multi-currency support
- Crypto wallet
- Interactive dashboard
- High-level data security
Importance of Security
Data security should be the primary focus when developing a crypto exchange platform, irrespective of which type of exchange it would be. Below listed are some of the must-have security mechanisms for any crypto platform.
- SQL injection
- Data encryption
- HTTP parameter pollution protection
- HTTPS authentication
- DoS (Anti-Denial of Service)
- DDoS (Anti-Distributed Denial of Service)
- Jail login
Benefits of Hiring a Crypto Exchange Software Development Company
Exchange owners can get a lot of benefits if they use the services offered by crypto exchange development companies to effectively and efficiently build and develop the platform.
- Technical Support: The company provides technical support in maintaining the platform. Being a software solution, the exchange requires regular maintenance and upgrades to stay error-free and bug-free.
- Package Solutions: Hiring the services of a crypto software development company would help exchange owners in finding solutions to all problems in one place. There is no need to contact different people/ companies for different services.
- Launch Made Easy: Launching the platform is no small task. The company will provide the required services to help facilitate the process.
- Customization: The company has experienced software programmers and developers who master the art of customizing the software to make it unique for each exchange.
- Backend and Front end Services: Both the backend applications and the front end user interface are created and monitored by the company. Knowing what the traders what, the company ensures that the exchange is in a position to offer those to the traders.
- Data Analytics: Analyzing the performance of the platform is equally important to know it is fairing in the market. The crypto software development company takes care of data analytics as well.
- No Hidden Charges: There are no hidden or unseen charges. The prices at fixed and a contract is signed between the two parties.
Entrepreneurs have to do their research and find the right company to help them with the entire process. Focusing on the quality of services is the best way to attract traders to the platform. The future appears bright for cryptocurrency. It’s time to make the most of it.
If you are planning to build your crypto exchange, Antier Solutions can help. We offer a white label solution to help you quickly launch your exchange in the market, and additionally, we can build a custom exchange for you as per your business requirements.
Schedule a free demo of our white label cryptocurrency exchange software or connect with our subject matter experts to share your business requirements.