The demand for Cryptocurrencies never goes down in the market among investors, since its worth is expected to be highly recognizable in the future. Many startups/business owners are now starting businesses by keeping cryptocurrency as a base. In the list, the cryptocurrency exchange business is at the top, since many users are trying to afford the crypto using different exchanges.
The value of the cryptocurrency market is upscaling every day. Statistics from Alexa proved the renaissance in Cryptocurrency Exchange platform popularity in recent years. Since the investment in crypto is booming, simultaneously the demand for cryptocurrency exchanges also is increasing. For investors, the exchange is the only place to buy and sell cryptocurrencies. This raises the demand for cryptocurrency exchanges with high-end security features, etc. So, let us see, what is a Cryptocurrency exchange?
What is a cryptocurrency Exchange?
A cryptocurrency Exchange platform is a digital space where traders can buy and sell bitcoins through fiat currencies or other altcoins. The exchange platforms act as an intermediary between the buyer and seller to perform the transaction.
Cryptocurrency Exchange Platforms make money in the form of transaction fees. This means that the buyer and seller who perform the transaction have to pay an additional fee called the transaction fee. Additionally, Bitcoin Exchanges collect a piece of fee for fiat transfer, currency conversion, etc. Let us see the different types of crypto exchanges.
Types of Cryptocurrency Exchange
There are different types of cryptocurrency exchanges in the market. Each type has its unique features and functions for users who want to trade various crypto cryptocurrencies. This brings a huge positive response from the crypto audience on cryptocurrency exchanges and their revenue system. There are three types of cryptocurrency exchanges, centralized exchange, decentralized exchange, and hybrid exchange. Let us see them in brief,
Centralized exchange:
Centralized exchange (CEX) is the best cryptocurrency exchange, where users can trade cryptos with a third party, in between your trading process. Here your trading process and your transaction will be monitored by authorities to maintain a secure and healthier transaction.
Decentralized exchange:
Decentralized exchange is a type of exchange where it allows users to trade cryptocurrency without the involvement of intermediaries like third parties, authorities, or any other central government. Here the crypto assets are the responsibility of the respective users and the major advantage of the decentralized exchange is your users can trade cryptos without any KYC process.
Hybrid exchanges :
Hybrid exchanges are exchanges that hold the features of both centralized and decentralized exchanges. They are havens for cryptocurrency traders because they combine the usability and liquidity of centralized exchanges with the security and anonymity of their decentralized equivalents. Popular hybrid cryptocurrency exchanges in today’s online world are Eidoo, Querrex, and Legolas.
Let us see, how the crypto exchange will be the choice for business owners to grow in their careers.
How crypto exchange can help business owners grow their business
- The cryptocurrency exchange helps its owner to make a huge revenue since cryptocurrencies are booming in the market. As we already discussed, cryptocurrency is kept as a base for future businesses and an exchange for online purchasing. This instantly raises the revenue system for the crypto exchange owners.
- Cryptocurrency exchanges are expected to beat the future banking system. Since the transactions are stored on the blockchain, you won’t face any fraudulent or hacking activities.
- The cryptocurrency exchange business is booming since it supports various blockchain ecosystems, so many users trust this platform to trade a variety of cryptocurrencies.
Business Benefits of Starting a Cryptocurrency Exchange Development
We the coinsclone, develop an exchange with enormous benefits for the business owners to gain a huge crypto audience and generate revenue. Let us see some of the major benefits of crypto exchange we develop,
100% optimizable
The exchange we develop is 100% optimizable where you can add or modify the features, designs, modules, etc, according to your business needs. You can also optimize it whenever you need to update your platform.
Glitch-free and secure
The cryptocurrency exchange we develop will be glitch-free so that you can experience the platform usage in a hassle-free way. It also helps the users to trade with high-end security features and maintains all user details highly secured.
Meticulously tested exchange
The cryptocurrency exchange we develop will be thoroughly tested with the expert quality testing team and then it will be delivered to the respective platform owners. So the user can experience quality services.
Instant deployment
The cryptocurrency exchange we develop will allow you to instantly deploy the platform into the server without much delay.
Generate High ROI shortly
By developing the crypto exchange with us, you can charge fees from the users to access various features. It enables you to generate huge revenue within a short span of time.
Also read: How do cryptocurrency exchanges make money?
No need for technical expertise
The crypto exchange we develop need not require any technical expertise like implementing coding etc, since it is a ready-made solution. You won’t face any complexity.
Boost brand visibility Easily
We the coinsclone, choose popular exchanges as a business model to develop your platform. So you could gain high brand visibility for your platform without any separate promotions or advertisements.
Highly responsive without any technical flaws
The crypto exchange we develop will be highly responsive even though more users will be using the platform at the same time. Users won’t face any bugs or lag issues while using the software.
Must have features of the cryptocurrency exchange development
The features are the major thing noticeable in certain exchanges. So let us see the top-notch features integrated into the crypto exchange software.
The core features of the cryptocurrency exchange
- User dashboard
- Admin Dashboard
- Different order types
- Crypto and Fiat support
- Advanced chart tools
- KYC/AML
- Support system
- Admin profit management
- API Documentation
- Multi-lingual support
- Margin trading
- Future trading
- IEO launchpad
Security features of the cryptocurrency exchange
- HTTPS authentication
- Jail login
- Data encryption
- Two-factor authentication
- SQL injection prevention
- Anti-denial of service (DOS)
- Cross-site request forgery (CSRF protections)
- Server-side request forgery (SSRF protections)
- Anti Distributed Denial of service
Finally, you would have come to know the major benefits of the crypto exchange business. This might have given you a high clarity about starting a crypto exchange. Let us see the right cryptocurrency exchange development company for your platform below.
Closing thoughts
Without a doubt, the Cryptocurrency industry is upscaling and will upscale in the future years. If you are an investor who has an idea of building a Cryptocurrency Exchange platform, we people are here to assist you.
We the coinsclone have the desired set of experts who have rich expertise in building a crypto exchange platform similar to Binance, Coinbase, and LocalBitcoins by using our crypto exchange script. Our feature-packed solutions have helped clients to reap a good amount of money from the Cryptocurrency trading platform which we have built for them.
Coinsclone have a lot of experience finding the most recent upgrades and incorporating them into your exchange development process. We have fulfilled more than 50+ clients related to crypto exchange development. We share our knowledge of the whole range of strategies and challenges that the users will face with the platform in the upcoming years. Contact us and introduce your crypto exchange platform into the market on time.