It is not an easy feat to launch a cryptocurrency exchange.
Indeed, it's pricey, time-consuming, and full of hard-to-predict roadblocks. However, here's a brief of all that a full-fledged exchange needs:
Basically, it needs substantial financing to construct and sustain an exchange, both internal (for liquidity) and external (for operations).
Infrastructure for trade
When you don't have the software to power it, running an exchange means losses. However, for the cost-efficient creation of this infrastructure using blockchain, you can either build it from scratch or collaborate with a third-party vendor like Oodles.
Constructing the exchange is just the beginning. Managing it and providing updates for your customers also need a team of engineers.
Lawyers/Officers for compliance
Cryptocurrency is still in many jurisdictions in a legal grey field. Therefore, you must meet with a lawyer to secure the required licenses to ensure that you follow the correct protocols for Know-Your-Customer (KYC)/Anti-Money Laundering (AML).
Team of support
You may overlook the need for support staff. But without one, you'll lose a massive number of clients.
A few people would visit your exchange without marketing. To give your website a chance at sustainability, you need to have a substantial marketing budget.
These expenses keep adding up as the development progresses, as you would expect. Usually, it takes about two years to open a cryptocurrency exchange, which can cost hundreds of thousands of euros.
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We are excited to announce the introduction of a crypto exchange solution rendered by our crypto exchange services that will offer you less overhead, fewer costs, and importantly, a condensed timetable to launch your exchange.
Our services essentially provide out-of-the-box trading of cryptocurrencies. With the look and feel of the exchange, you have complete customization capabilities.
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Our specifically defined exchange development processes make sure you don't meet any crucial deadlines. Further, it helps us to effectively provide cryptocurrency exchange production services without sacrificing efficiency. Also, our patented module blockchain saves time and resources.
There is a single blockchain module in our crypto exchange solution that includes all the fundamental functionality and functionalities of a crypto trading exchange network. Subsequently, it facilitates the requisite customizations to satisfy the specifications of your company's crypto exchange application while saving time and costs.
It incorporates the architecture of microservices to serve a quickly expanding user base, making it conveniently scalable. It results in accelerating transaction throughput.
It can be installed on any network for cloud providers, such as AWS and Microsoft Azure. Deploying on the cloud basically guarantees accelerated development, scalability, and minimal maintenance efforts.
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The creation of our trading network has the versatility to help many blockchains and cryptocurrencies with the potential to be hosted on your servers. The solution can be combined by our blockchain specialists with blockchain APIs such as Bitcoin, Bitcoin Cash, Bitcoin Gold, Stellar Lumens, Ethereum, Ethereum Classic, Litecoin, NEM, Monero, Ripple, Dash, and NEO.
Several Ethereum tokens, such as ERC20, ERC223, ERC777, Waves-based tokens, EOS, NEM, and NEO, can support the solution.
The crypto/fiat or crypto/crypto sector can be conveniently configured directly from the admin module. Also, different business settings are available in the admin module, such as exchange fees and minimum tradable numbers. It offers to trade with a high degree of versatility.
It is a module of the admin panel that provides a consolidated view of all the transactions taking place in the system. Additionally, filters make it easy to track and check for compatible transactions for admin.
Our cryptocurrency trading site makes it an effortless task to incorporate a new fiat/cryptocurrency. It requires settings such as processing costs, the number of confirmations, and many more to be updated.
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The KYC module of our exchange solution will provide a concise and secure medium for user identification and confidence management. It prohibits any trading operations from being conducted by non-KYC-compliant consumers. Also, by integrating with third-party screening APIs, we can build an integrated KYC process that works efficiently.
For managing all activities relevant to management, an admin portal is open. The exchange can make it easy to handle tasks such as listing members, profile records, wallets, trading, reports, commission setups, spreads, and commission accounts. Also, the admin panel will even have fine-tuning settings to fit various rates, currencies, tariffs, exchange costs, and other functionality for liquidity suppliers.
In the admin panel, multi-instrument trading facilities are available to allow multi-instrument order bookings. To set up several markets or instruments, administrators may use trading facilities. They will allow users to access their trade history and cancel open orders to meet their needs
To guarantee top-tier confidentiality, logins, withdrawals, and profile updates are subject to multi-level authentication. With our sharing network, the account becomes a super-secure asset with additional OTP, email, and Google authentication layers.
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Our introduction with multi-currency wallets helps consumers of the same wallet to handle different currencies. As part of our base kit, it supports payment methods like ETH, BTC, LTC, BCH, and several fiat currencies. It comprises all functionality, such as deposits, transfers, regeneration of addresses, account history, and balance investigation.
Downloadable CSV files relating to the user list, customer balance, order book, company ledger, and exchange are available. We will add additional reports to meet your unique business needs.
Limit orders and business orders remain included in our base bundle of cryptocurrency exchange creation services. In our advanced kit, trades like a stop order, cap order, conditional order, and margin order are available to achieve your trading goals.
Flexibility with various language support. It encourages you to launch your exchange in different countries. Flexibility also offers the opportunity to open an exchange platform in numerous countries with varying configurations.
Also, Read | Cryptocurrency Exchange Development | Assessing Liquidity Factors
Insufficient liquidity poses problems for activities. By having the flexibility to integrate with external markets and liquidity suppliers, we prevent those scenarios during the development.
Configurable liquidity settings in the admin module, such as spread percentage accessible.
Connect with our crypto exchange development experts for a more detailed discussion.