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Development of Cryptocurrency- How Is It Impacting Small Businesses
November 3, 2022
Develop A Decentralized Crypto Exchange Software For Simplified Transactions
November 4, 2022
The cost and time taken to develop advanced Bitcoin Exchange software from scratch vary depending on the feature requirements and development budget. Apart from the security parameters, another aspect that determines the success of a crypto exchange is its time-to-market. However, if you opt for aggressive development timelines, you might have to deal with two major challenges:
- The increased cost of development and
- the Risks of code bugs and logical errors.
A Bitcoin exchange script offers an off-the-rack source code that can be customized to deploy a full-featured cryptocurrency exchange platform within 4-5 weeks. Not only does it allow faster development and deployment, but it also cuts down the development cost drastically.
Extraordinary Features of a White Label Bitcoin Exchange
If you are someone who is looking forward to roll-out a bitcoin exchange software, you must acquire all the knowledge about the features that a bitcoin exchange script can offer.
- Live order book system
A live order book records the list of orders placed on the exchange in real time. It shows exchange participants the prices and volumes that the users are ready to buy and sell their assets for. It also helps in better representation of the order list, as most of the order books developed for white Label Bitcoin Exchange come with a visual demonstration. Generally, line charts are used for visual demonstration to help market participants quickly understand the demand and supply in the market. - Advanced trading engine
A trading engine is the backbone of any white Label Bitcoin Exchange as it matches the bids and offers (buy and sell orders) to execute trades. This is designed to be an automated system and uses one or more algorithms to record open orders. At the same time it generates new trades so that the two orders can be fulfilled by each other.Once a market participant places an order on an exchange that is built using Bitcoin Exchange Script, the trading engine classifies the order as per:
- The purpose (whether its a buy or sell order)
- The timing of the order and
- The price of trade
A transaction goes through immediately if the engine finds that a ask and buy order is in sync. All kinds of market orders like limit orders, stop-limit orders, and more are executed by the trading engine only.
Launch Your Bitcoin Platform with Bitcoin Exchange Script
Schedule Free DemoA bitcoin Exchange Script uses a variety of algorithms to match asks and bids in real-time. The most common algorithm used is FIFO (First in First Out) which prioritizes the execution of an order on the bases of the timing it was recorded on the trading engine.
- Liquidity API
When it comes to Cryptocurrency Exchange liquidity, it is the combination of Asset Liquidity, Exchange Liquidity, and Market Liquidity. Liquidity API is an application program that is integrated into the Bitcoin Exchange Script so that the exchange can use the liquidity of popular crypto exchanges. - Margin & Futures Trading
Margin Trading allows crypto exchange users to borrow funds and increase their buying/selling power. With margin trading, users are able to open positions that are much larger than their actual account balances.Our white Label Bitcoin Exchange safeguards exchange owners and traders against losses by integrating risk management features like:
- Auto Deleveraging (ADL)
This feature in the Bitcoin Exchange Script lowers the trader’s losses by automatically deleveraging the open position. This feature comes into play only if a liquidated position cannot be closed at a price better than the bankruptcy price. - Stop Loss/Take Profit
This feature allows traders to automatically exit a trade if the order price touches the floor and ceiling values. - Partial Close Orders
If a user wants to take profits, this feature enables them to partially close their orders. - Insurance Funds
The insurance funds protect traders’ funds against auto deleveraging.
Futures trading is a very interesting feature of a crypto exchange as futures are a type of derivative crypto contract and they bind the exchange to pay traders cash or asset equivalent at a predetermined price on a future date.
- Auto Deleveraging (ADL)
- Payment Gateway and cryptocurrency wallet Integration
- Integrated IEO Module
- Admin Console
- Trading Bot
- Cryptocurrency Ticker and Rest API
In addition to all these features, some of the advanced security features that are integrated into a Bitcoin Exchange Script are:
- HTTPs authentication
- Prevention of Data Loss
- Encryption of Data
- Jail login
- Prevention of SQL injection
- Two-factor authentication
- Prevention of Denial of Service(DoS)
- Prevention of Cross-Site Request Forgery(CSRF)
- Prevention of Server-Side Request Forgery(SSRF)
- Anti-Distributed Denial of Service
Wrapping it up
Considering how profitable the cryptocurrency exchange market has proven to be, it is understandable why so many crypto exchanges are entering the system.
At a glance, starting a cryptocurrency exchange might seem like a complicated task. However, by using the Bitcoin Exchange Script, the development complexity, cost, and time-to-market can be drastically reduced. A pre-tested bug-free white label bitcoin exchange makes kicking off a distinctive and revenue-generating crypto exchange easy. Connect with Antier crypto exchange development experts to get a free demo of cutting-edge Bitcoin Exchange Software.
