The billion-dollar crypto space is expanding its opportunities every day. A year ago, in 2019, the total crypto coins in the coin market cap were 2300+, but you could see the inflammation to double the size, I.e., 5300+ in 2020. The drastic increase in cryptocurrencies has evidenced a promising growth for the investors and traders.
In this blog, let's have a quick chit-chat to start your cryptocurrency exchange business!
⏭10 steps to start your cryptocurrency exchange⏮
Cryptocurrency exchange platforms are yielding huge profits from their community users through various services rendered. A most popular type of crypto exchange is the centralized exchange! Even though cryptocurrencies were invented to avoid intermediaries, people still require third-party governance to perform smooth trades and transactions. Hence, centralized exchanges play a vital role in crypto space. You can decide on the type of cryptocurrency exchange you want to launch!
?Types of crypto exchanges are:
- Centralized
- Decentralized
- P2P
Conduct thorough research on the crypto market space. Find the leading cryptocurrency exchanges, listed cryptocurrencies, features, their add-on services, and much more. Aim to provide the best possible features on your crypto exchange platform, and you can even take up the survey from investors to build exchanges.
Analyze the crypto market space and set the base of your crypto exchange business. Every federation does not accept cryptocurrencies and their exchange platforms, hence, setting geolocation must be your primary decision.
Popular cryptocurrency exchanges are based out of the USA, Japan, Switzerland, Singapore, Luxemburg, Hong Kong, Malta, Estonia, and Bermuda.
Abiding by the laws of jurisdiction is the significant process of every business setup. On deciding your geolocation, have a detailed perspective on the laws of jurisdiction regarding cryptocurrencies and its related business. Some of the federations are supportive of the crypto business, while others are not. The governments are framing their laws for crypto assets based on their people, economy, and other aspects. Deviating from the norms can cause an impact in your crypto exchange business!
Every year the government revises its business laws and regulations. Hence, it's better to approach a legal consultant to check out the laws of setting up a cryptocurrency exchange platform. Legal professionals may guide you in the right pathway to set up the business without any hassles.
You can decide to build the cryptocurrency exchange from square one or develop the well-structured white-label script. The choice is yours! The cost of developing the exchange by a cryptocurrency exchange development company is decided upon various factors. They consider add-on features, back-end technology, database support, and many more factors. You can consult the companies and get a quote from them by discussing your requirements!
You can decide on a crypto exchange development company based on their technical expertise, project portfolio, and price quote. The company must have a team of blockchain developers, front-end developers, marketing professionals, business analysts, and other people to support your project.
8️⃣ Consolidate the list of features
Build your cryptocurrency exchange platform with advanced features, so that your users must glide on with the elegant user-interface. Try utilizing all the competitive exchanges and list out the features you aspire. Consolidate the list and think upon features to add-on!
Mandated features for a cryptocurrency exchange includes:
- Instant KYC Verification
- Multi-currency support
- Multi-lingual support
- Wallet integration
- Liquidity
- Crowdfunding tokens listing
You can configure and launch the cryptocurrency exchange platform for the target audience now! Your cryptocurrency exchange platform must be outreached to the potential audience with innovative marketing techniques. Try outreaching your exchange platform in possible community portals, search engines, social media, and advertisement campaigns.
Round the clock support
The customers become panic while entering a novice cryptocurrency exchange platform. Hence, your platform must be designed to render round the clock technical support to the users. At initial stages, the users may not be in millions; hence every user is your valuable asset, afford them support rapidly. The customer support helps you stand out of the crowd and gathers a massive user base!
Tap to know More About--> Cryptocurrency Exchange Development Company
Cryptocurrency grabs the attention of financial experts, investors, and traders due to its growing market value.
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.
Most entrepreneurs are perplexed about where to get their best cryptocurrency exchange like wazirx.
Around the world there are a huge number of cryptocurrency exchange platforms available in the crypto space.
But considering south asia, there are only a few and Wazirx is one among them.
Wazirx is one of the successful cryptocurrency exchange platforms with best features and functionalities.
Developing a Wazirx clone script is a great choice as it will definitely help you gain profit for your business.
If you are looking to develop your cryptocurrency exchange platform like Wazirx, there are a number of cryptocurrency exchange platform providers available.
Binance clone script is a crypto trading platform that replicates the original binance platform with additional features and functionalities.
Binance clone script is developed with user friendly features so that users can buy and sell and make transactions easy and faster.
It is a bug-free ready made customizable solution available in the crypto space.
It is enhanced with the best security features and functionalities.
Prime features of binance clone script:User-friendly dashboardMultiple trading optionsPushup notificationsGeo location identificationIntegrated crypto walletHighly scalable trading engineMultiple payment methodsHigh speed transactionSecurity features of binance clone script:Escrow based securityKYC/AML verificationHTTPS authenticationsEnd to End chat encryptionServer-Side Request Forgery(SSRF) protectionEnd to End encrypted transactionCross-Site Request Forgery protectionSecure walletReal time updateWhere to get a highly secure Binance clone script?WeAlwin technologies the best solution for the cryptocurrency exchange platform development .
They have a skilled team that helps you build your best featured and customizable Binance clone script.
The cryptocurrency exchange acts as an intermediary platform between buyers and sellers where one can exchange a digital asset for another based on the market value of the given assets.Why Do You Need to Launch your Own Cryptocurrency Exchange Platform?As the crypto market opens the door for everyone to earn in millions by the rise of new opportunities each day, many people who keep eye on this tremendous growth of the crypto industry, always end up in a greater desire of starting their own crypto exchange business.
Many Businesses and Entrepreneurs are eager to launch their own cryptocurrency exchange platform to enter the crypto market and make huge profits.Are you looking to Launch your Own Crypto Exchange?
Build your own highly secured, robust, and next-gen cryptocurrency exchange Platform with our Crypto Experts.How to Start a Bitcoin Exchange?Being a top-notch Cryptocurrency Exchange Software development company, we Employcoder offer a wide range of Cryptocurrency Exchange development services such as Centralized or decentralized Crypto Exchange Website and Crypto Exchange Apps, blockchain wallets, smart contracts, Decentralized Applications(DApps), industry-based blockchain applications.Hire Cryptocurrency Exchange developers from Employcoder on an hourly or full-time basis and save up to 50% of your Cryptocurrency Exchange Development and analysis cost.We develop a ready-made white label Bitcoin exchange script which is a 100% customizable script where you can make the necessary customizations and launch your own crypto exchange platforms instantly!
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What is Decentralized Exchange(DEX)?A Decentralized Exchange is a type of an exchange which will not be under control of any third party platforms to handle clients transaction details.
So here peer to peer is the process enabled which is potentially automated.
This particular process is attained by developing the proxy tokens or assets or via Decentralized Escrow System.
WHY DECENTRALIZED EXCHANGE IS HYPED?The main reason why DEX platform is hyped is just because of its potential to handle countless crypto assets which people want to trade.
This potential can’t be compared with CEX(Centralized Exchange) because they will not be able to handle such massive crypto assets.
This difference was identified by most of the experts around the industry and started to predict it’s strong future.MAJOR ADVANTAGESSince your transaction details remain within your wallet, there are no possibilities of security breaches or hacking your personal data'sFurthermore, another mean favorable position is the security mode which offers for each client for exchanging.
