More than 300 million cryptocurrency users are leveraging the benefits of the crypto space incredibly. If you are or want to become one of them, you have landed on the right spot! Recently, cryptocurrencies have raised their value and completely conquered the digital world. Even the experts believe that these crypto assets have the potential to offer easy financial services and enhance social and economic growth throughout the world.
A study done by Fortune Business Insights claimed the blockchain market size globally is going to reach USD 163.83 billion by 2029. The expected compound annual growth rate is 56.3% during the forecast period. Investors who want to taste the profit of this booming market must choose bold steps. Bitcoin Exchange Software development is one of them! People want to dive into the features and secure environment of the White Label Bitcoin Exchange. You can disrupt the industry by starting your own venture of Exchange Software Development. Read on to the last and see the potential of this technology!
Let’s deep dive into each step of Bitcoin Exchange Software Development; these are the things you must have or do before starting your platform:
Firstly, you need to know if you are operating globally or just want to focus on a particular region. In both situations, you would need certain licensing and approvals to run a White Label Bitcoin Exchange. However, the laws of a region may differ according to the place. So you need to consult with a legal expert regarding the approvals and compliance with rules.
The Crypto space has become so big that almost government organizations in each country want Exchange Software Development business owners to comply with KYC (Know your customer) norms. This actually eradicates the chances of money laundering. So make sure you stick with good Bitcoin Exchange Script and execute a good customer verification procedure on KYC norms.
Partner with a bank or payment processing provider with various online facilities. Any Bitcoin Exchange Software Exchange would need liquidity to operate smoothly. This is because customers feel skeptical about placing orders on platforms with no trading activity. You can simulate trading activity by selling and purchasing between two artificial accounts. Employ an API interface to connect your Best White Label Cryptocurrency Exchange Software with another working exchange. The larger the network, the better the liquidity.
Your Bitcoin Exchange must have top-notch security for operators and traders. Make sure the private data of your customers with KYC information and bank information is secured. Security concerns should always be the priority. In addition to this, a Bitcoin Exchange Script and 24/7 customer support are a must to make your business successful. Employ a team that handles KYC requests, answers users’ complaints, and processes fiat currency transactions.
Now the next step is understanding the features of White Label Bitcoin Exchange Software Development that your venture must have. Begin with these core components and start trading:
Your platform should give a simple and interactive onboarding experience to users. Verification is the most vital aspect of maintaining transparency and reducing the chances of fraud. Make sure your Bitcoin Exchange Script offers complete data safety, and integrate your app with two-factor authentication with anti-bot verification. In addition, our company makes the registration process user-friendly by utilizing innovative design elements.
The trade engine is the heart of the Best White Label Cryptocurrency Exchange Software. Without this, a crypto exchange platform can’t even function. Every transaction is based on the trade engine as it looks after the order book, analyzes the Buy and Sell order, approves the transactions, and calculates the transaction balance. Bitcoin Exchange Script also plays its part by processing information about prices and commissions. The trading engine handles:
Building Bitcoin Exchange Software is a challenging part, and you need an experienced team to lay the correct structure and build an effective platform.
Another major component is that users prefer an exchange platform where they can interact easily. User Interface is the front end of your venture. The user-friendly interface and spontaneous response of your Bitcoin Exchange Software will give users a delightful trading experience without any lagging. Your White Label Bitcoin Exchange must be compatible and responsive with multiple devices. Your platform should be easy to understand and interactive to use, even if someone is not much familiar with cryptocurrency trading. Include features:
An exchange is incomplete without a crypto wallet. Crypto Wallets allow users to store, send and receive assets. These wallets were designed with maximum security so that transactions don’t get affected by cyber-attacks. Crypto wallets are categorized into software, hardware, and paper wallets. An Exchange Software Development allows users to send, store and receive virtual currency. Include these components in your exchange:
Seek help from a professional Exchange Software Development Company to ponder over other things and concentrate on making your exchange more efficient. Here are some perks that you will enjoy:
We hope this guide was helpful for you in understanding Bitcoin Exchange Software Development. As a leading cryptocurrency app development company, Antier ensures to give you the best White Label Cryptocurrency Exchange Software. Our team incorporates every essential security to your platform. Avail fast, scalable, and highly secure Bitcoin Exchange Script with our exchange development solutions. Even if you have some queries, our blockchain experts are happy to assist you!
Please fill out the form to make the request. We’ll be in touch to schedule a free demo.
