Generally, cryptocurrency exchange software or application refers to as a web or mobile app that allows users to buy, sell or exchange cryptocurrencies for fiat currency like US dollars or Euro or in other currencies.
If you’ve taken the decision to develop a cryptocurrency exchange platform software, the first step is getting a trading license and, most importantly, registering it as per the rules and regulations of your region for trading.
Initially, although some countries were skeptic about allowing transactions in cryptocurrencies, now they are showing some leniency in this regard.
Nonetheless, it is necessary to be compliant with KYC norms. You should be ready with the required documents.
Also, customer integration with verification API is a must in an exchange platform along with the backup.
You would also need charts that notifies on the volatility index about the digital currencies. They assist in the comparison of trading combinations. You need to make orders; a record of transactions and finally, get a comprehensive history of most successful transactions helpful to determine the bidders.
Well, it would be a tedious task if you choose to hire a dedicated team to deal with the project.
However, choosing a cryptocurrency exchange development company can abolish your worries and allow you to only focus on your vision.
It’s because the project will be rendered successfully as each crypto exchange developer in the team would have expertise in specific areas of understanding the software and well professed with its functioning.
They would interpret components appropriately. Though, do consider the time and budget required to develop a cryptocurrency exchange application from an offshore cryptocurrency exchange development company.
According to an estimate, it takes around 6 months to one year or even more as per the requirements of the project.
If your crypto exchange platform utilizes multisig, HSM and three-layer wallet system, you can ensure that you offer the highest industry security standards in the market.
Having the best trade engine, that’s fast and reliable, installed at the core of the system, is important. It ensures that the platform is working properly in any situation.
The platform must enable your users to trade digital assets over several trading pairs. And, must have an advanced trading view to allow users to see what’s live happening across other prominent exchanges.
Your users should be able to create multiple trade views or see and analyze multiple graphs from different exchanges on a single trading view. This saves a lot of time of users as they don’t lose time switching between windows.
Another option is using a turnkey exchange software solution (also known as White Lable Solutions). It is an easier option than developing the software from scratch, as choosing the former provides you with the opportunity to develop and customize the software according to your needs.
In a ready-made software solution, the testing gets done beforehand. It also allows evading the need for continuous maintenance.
You need to only run a few settings according to the project demands. Eventually, it saves a lot of time and money.
We, at Oodles Blockchain, ensure that you don’t miss even a single significant aspect of an exchange/trading platform as we use the best cryptocurrency exchange development services and utilize our experience of more than 3 years in the cryptocurrency and blockchain sphere. We develop cryptocurrency exchange and trading platforms that contain above- mentioned features for easy success and fast adoption.