In recent times most crypto businesses have evolved at a tremendous rate. Cryptocurrency exchange, cryptocurrency payment gateway, and cryptocurrency wallet are a few of the well-known crypto businesses. A cryptocurrency exchange is a highly profitable business compared to all these. Entrepreneurs and startups could generate high revenue from the crypto exchange business. If you are a startup willing to do business-related cryptocurrencies, crypto exchange is highly recommendable. This write-up would be useful for developing the best crypto exchange.
Attracting a lot of users is a key to success for this business. Whatever the business might be, having prominent features attracts more users. Features play a main role in the success of the business. Before developing a crypto exchange, knowing about the best features is very important. Here I’m going to explain the features that should be implemented in crypto exchange along with their benefits,
A mobile trading application - It is a software application, which is primarily suited for small, hand-held devices. Users can easily trade through their mobile devices.
Crypto payment gateway integration - It is compatible with multiple payment methods comprising fiat currency as well as for cryptocurrencies.
Crypto wallet integration - Crypto traders can store and transact their cryptocurrencies through the integrated cryptocurrency wallet.
Matching engine - Instantly matches a buyer's order with the seller's for facilitating seamless trading.
Margin trading - Brokers(companies) lend money to traders (users) who lack the funds to trade.
The liquidity API - It provides traders with information about the liquidity (trade flow) of your exchange. As a result, traders will automatically trust your crypto exchange.
Firewall implementation - Monitors inbound and outbound traffic for bugs and detects them if any exist.
Impressive User Dashboard - A versatile User dashboard provides you with a comprehensive overview of your workspace and allows you to accomplish multiple tasks.
KYC Integration - KYC(know your customer) is a verification process that involves the verification of the user's identity.
AML Integration - AML(Anti-money laundering) prevents illegal financial activities and malicious money transfers.
Along with these features, working on security features is also very important. It prevents hacking issues as most of the users prefer secured crypto exchanges. Here are some of the Security features that you should look into in a cryptocurrency exchange.
DDoS mitigation - It counteracts malicious traffic attacks on cryptocurrency exchanges.
Two-factor authentication(2FA) - A secure method of protecting cryptocurrency exchanges from third-party interference.
Encryption - Database encryption that provides end-to-end encryption on every single transaction.
SSL integration - Security socket layer prevents your site from hackers(top-notch security standard) and possible cyber hacks.
Browser Detection - Detects a user's details like IP address, OS, and browser.
Anti-phishing - An attempt to prevent a fictitious transaction request through email, text, or telephone.
These are all the essential features that should be implemented in the crypto exchange. But developing a crypto exchange from scratch would cost high and take lots of time to implement. In order to prevent these developing ventures came up with white label crypto exchange software exclusively for startups. White label crypto exchange software is ready-made software that has all the insights, and security features and is already test verified. Startups could launch a crypto exchange within 5 days at an affordable cost.
Finding a reliable white label crypto exchange software provider is a tough one. Because the market is covered by a lot of inexperienced providers. While looking for a reliable white label cryptocurrency exchange provider, I’ve found Coinsclone. They are one of the Reliable white label crypto exchange software providers in the crypto market. They have expert Blockchain developers, blockchain business professionals, and web designers. They’ll help you with the entire white label crypto exchange development process within the expected time frame.
You may contact them for a free demo - White Label Crypto Exchange Software
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