The cryptocurrency exchange platforms are platforms in which user can buy and sell virtual currencies at the rates specified by the exchange market . It act as a mediator between customer and digital currency dealers .
In present scenario , numbers types of cryptocurrencies are available in the market . But when it comes to choosing a platform , there are only two types of platform available in the market to choose from :
The first one being direct trade platform wherein traders can trade their own exchange rate , without any interference of market established price .
Secondly , there are varieties of brokerage platform available in the market facilitating user to buy currencies at the rate set by the agent . The agent are somewhat similar to foreign exchange dealer .
Getting KickStarted With Cryptocurrency Exchange Platform
The very first thing that need to be taken into consideration is the functionalities required by you in how much time and how much is the budget . As when we are dealing with such a complex software development it make take a year depending on the complexity of software and mobile app development company
you have hired .
Once you are done with the documentation of what is required by you , the very first thing that a develop will do it to create a user profile module , by which user can deposit and withdrew cryptocurrency .
Apart from what is being stated above , you will also be needing an aggregator solution to facilitate user to create their own coin or token and put it on asset list immediately .
Any of the cryptocurrency exchange platform won’t work if it does not have an attractive look and user friendly interface , and most important the wallet in which cryptocurrency can be stored .
The following features should be necessarily present in order to build perfect interface :
- Fast and easy user registration
- Trading account
- Wallet to store coins
- Deposit and withdrawal of cryptocurrency
- Order and booking history
- Powerful customer support
How Can We Develop An Cryptocurrency Exchange Software
Once you have totally prepared your mind to own a cryptocurrency exchange platform , there should be clear understanding between you and the team you are hiring for blockchain web and app development
– right from its functionalities to its principle and more . Also team must have potential developer to implement the technology properly .
The cryptocurrency type is going to decide the programming language a developer in going to use to develop the whole platform . When talking about blockchain app development
, security should be considered above all factors . It should be highly secured in such a way that it should be compatible with other payment systems to guarantee all transactions are carried out successfully .
Considering time and resources to make project a success plays an important role . On an average it has been seen that it will take around 15000 hours to 20000 hours to develop the whole project depending on the complexity of the project .
How Can Exchange Platform Be Protected ?
The first and foremost thing is quality of code which itself eliminates any security risk . For this you need to create security architecture and configure it accordingly in order to spin hackers to get the assets .
The blockchain is not only getting popularised in cryptocurrency , but is also increasing its flame in banking industry to ensure highest security in financial system as well as trading in banking as well .
We hope this article has guided you a lot things to start developing your cryptocurrency exchange software . But if you still have any unanswered question in your mind , don’t hesitate to contact Winklix
for all your support and questioner .