The cryptocurrency growth is vast all over the world. More than 1500 cryptocurrencies are listed in the Coinmarketcap but still the craze is not reduced. Entrepreneurs are launching a new cryptocurrency exchange script and entering into the world of Crypto.
Crypto Trading Platform
India is going to launch the first Cryptocurrency exchange namely Coinswitch. Coinswitch provides liquidity to change the cryptocurrency they want to buy for the INR and refreshes the conversion within 30 seconds on the selected cryptocurrency.
They said that the first 25,000 users will gain rewards as points. Several numbers of cryptocurrencies are ready to launch in India despite RBI issuing any notices.
How to Start A Cryptocurrency Business In India
- Gaining Proper Legal Documents
- Apply for Fund to open Venture
- Cryptocurrency Solution Provider
- Test on your own
- Go live through customer testing
- Start Marketing and PR campaign
- Maintain the cryptocurrency
Gaining Proper Legal Documents
To start a business, a proper method of approach is a must and when you prefer to start a business like a cryptocurrency exchange software proper legal documents should be verified by both state & central governments. Proper licensing should be obtained to run the business smoothly.
Fund Raising
After getting the proper documents for the business. The next step is to attain funds to open the venture. The approximate cost of each and everything is to be noted. More startups are failing by not preparing for a longer vision. To attain the exact funds, proper documents and the planned cost should be included.
Cryptocurrency Solution Provider
The cryptocurrency development company chosen by one of the reliable organizations provides a turnkey solution for the exchange in a short span of life at an affordable cost. Choose wisely based on the features provided for developing the software with the latest technology, 24/7 technical solution provider with free server installation, and white label solution.
Zodeak provides a Cryptocurrency solution with all the mentioned features at an affordable cost.
Test on your own
Before getting into live testing of the cryptocurrency on your own, check out whether the conversions are properly corrected, the wallet is properly working, no sign-up or login issues, transferring cryptos are properly transferred.
Go live through Customer Testing
After checking on your own move the website/software to live and test through the customer and obtain the assurance that the app is working without any issue. The second level of testing beta testing and ensures the venture is protected properly and the payment processing system is to be protected.
Start Marketing and PR Campaign
The cryptocurrency exchange should be launched and able to connect with the people by marketing your exchange all over the world. PR campaign to be started to deliver to all the people based on the pricing.
Maintaining The Cryptocurrency
While customer support is the last step in the making of a successful cryptocurrency exchange, your ability to shine in this area will determine your long-term success. The cryptocurrency script should work without any bug and if any bug raises it should quickly provide a solution. Maintenance should be done then and there to keep safe for both customers and businessmen.
With the help of these Cryptocurrency exchanges, you can make money in numerous ways.
Those commission fees were denoted as trading fees and transaction fees.Here we gonna see the other ways to make money from the Cryptocurrency Exchange.
Let’s dive in.,How do Crypto Exchange platforms make money?Cryptocurrency Exchange platforms generate lucrative revenue from multiple sources not only one source.
But, if you follow all the jurisdictions and guidelines you can able to make money from various sources.
They are,Trading feesListing feesIEO feesLoyalty feesAdvertising Transaction feesMarket makingTrading fees:These trading fees are estimated based on multiple trading options that the traders pick for.
If you are running any types of trading in the Cryptocurrency exchange software, then there are various possibilities to get trading fees revenue, whether if you have a less number of users in your exchange platform.Listing fees:If you have a cryptocurrency exchange platform, there are numerous companies, who would like to list their tokens on your platform, so that you will get an enormous chunk of revenue for listing a token.
In a blockchain network, the data is not stored in any particular server.
It is distributed all over the network, making it unalterable and more secure than in the confines of any technology existing before blockchain.As the system is decentralized and any single party cannot control it, hence editing the data is impossible.Now blockchain is used in most of the sectors.
In fact, there is a field where this technology gained more popularity, which is the cryptocurrencies exchange market.Cryptocurrencies have started to develop all around the world.
At the moment, about 700 digital currencies are existing all over the internet, though not all of them are popular.The popularity of cryptocurrencies made many investors explore different ways to make money in this area.Now let us look at the steps involved to start your own cryptocurrency exchange platform.Get to know More Step's Involved in Cryptocurrency Exchange -->https://www.linkedin.com/pulse/beginners-guide-developing-cryptocurrency-exchange-platforms-aria/
As a well-known Cryptocurrency exchange software solution provider in the industry, we develop customizable exchanges, centralized exchanges, exchanges supported with margin trading and futures trading, and one-page exchanges.
The features we incorporate into our platform are spot trading, over the counter trading, two-factor authentication, the supply of adequate liquidity, firewall implementation, multi-currency wallets, mobile trading facilities, a powerful matching engine, an integrated referral program, integration of numerous payment gateways, a robust admin panel, seamless fiat to crypto conversion, maintenance of user anonymity, reduced transaction processing costs, and enhanced security.
The process we follow is collecting the business requirements, integration of the trading engine, blockchain technology and liquidity integration, listing the different coins and tokens on the platform, and delivery of the final bug-free exchange.
starting a cryptocurrency exchange involves planning, doing market research, financial decisions making, marketing, and acquiring knowledge in areas you never thought you would learn about before.
We At WeAlwin Technologies - a cryptocurrency exchange development company created a checklist to help guide you through the early stages of establishing your cryptocurrency exchange business.
Follow the steps below to help you decide if you are ready to go into the crypto exchange business, how to get started and where to seek help among the way.
Steps to start a cryptocurrency exchange business Decide the type of cryptocurrency exchange platform - You should choose the right cryptocurrency exchange platform that suits the present crypto business.
the different cryptocurrency exchange platforms are centralized, decentralized, hybrid, and P2P crypto exchanges.Understand the regulations in your country - Cryptocurrencies are legal in many countries.
so it is best to know the laws and regulations in your country before starting a crypto exchange to help to maintain your crypto exchange business.Attain funding for a venture if necessary - If your business idea is new, creative, and has the potential for greater future growth, then Venture capital would be surrounding you.
DEX Clone ScriptIn the Decentralized exchange platform (DEX), the users can trade their cryptocurrency with the control of the centralized authority.
Dex platform makes the trading to be carried out directly between the users of the decentralized platform.Anyone can start this crypto business as the platform will be completely secure from attacks.
BlockchainAppsDeveloper offers the best-decentralized exchange platform development with highly secured DEX clone scripts & solutions.Learn more @ https://www.blockchainappsdeveloper.com/decentralized-exchange-script-software
