This content originally appeared on DEV Community and was authored by vladimir sahin
If you want to have your own crypto exchange, this article can help you a lot because this article introduces the top 5 cryptocurrency exchange development company and also provides additional information. We hope you have been helpful.
What is Cryptocurrency Exchange?
Cryptocurrency exchange or Digital currency exchange (DCE) is websites where traders can buy and sell or exchange one Cryptocurrency to another digital-currency or fiat currency. On cryptocurrency exchanges, Users can make instant transactions with Cryptocurrencies in a highly secured manner. A typical cryptocurrency exchange works 24/7, that is, it never closes. One of the main reasons traders like them is their anonymity feature. Nobody knows who are the buyers and sellers.
The benefits of developing a cryptocurrency exchange
There are many other benefits in crypto exchange and that’s why it is growing day by day. So as more people get interested in this market the demand for exchange platforms increase. Therefore, as a business owner, you have to see the factors and come to a conclusion that developing a digital currency exchange site is an important step to expand your business.
The fact that the cryptocurrency market is usually available for trading 24/7 because there is no centralized monitor of the market is one of the reasons that make this industry grow faster. The cryptocurrency transactions take place directly between individuals and it helps traders to trade with other people all over the globe. This gives them the opportunity of trading with a wide range of people and traders.
The factor that measures the speed and Ease of converting a cryptocurrency into cash without impacting the market price is called liquidity. Liquidity is an important factor because it brings faster transactions (actually it reduces the time of the transactions), better prices, and accuracy for technical analysis.
How Does a Cryptocurrency Exchange Work?
The word cryptocurrency has been derived from the term Cryptography that means to encrypt transactions and regulate the assembly of the currency. Bitcoin is a world’s first decentralized peer-to-peer digital currency. The success of Bitcoin has paved ways for the new cryptocurrencies to arise. The open-source nature of Bitcoin has led to the development of hundreds of new digital tokens also known as Altcoins or Bitcoin clones. There are some of the most-sought after cryptocurrencies like Ripple, Litecoin, Dash, Ether, and Monero. In the present era, cryptocurrency has become a preferred choice for online users who are willingly ready to invest online. Excepting few constraints there are not much that could demotivate the virtual currency enthusiasts.
All types of cryptocurrency exchanges
Centralized Exchange
This is the most common type of exchange. Such exchanges have a centralized operator who is responsible for security, updates, and functionality. Centralized exchanges manage order books, which record all buy and sell orders. The weak point of this type is that coins are stored in the services themselves, which increases the likelihood of losing your funds due to hacker attacks. Therefore, centralized exchanges work hard to ensure the proper level of security.
Decentralized Exchange
Decentralized exchanges provide transfers of funds directly between users' wallets. This reduces the potential for theft from exchange hacking since the exchange never actually stores cryptocurrency. However, you should keep in mind that in such exchanges, the lack of moderating third-party shifts all responsibility for errors and security to the users themselves
Hybrid Exchange
It incorporates both the exchange systems' features and provides an upgraded solution to users' shortcomings in these systems. Here users have full control over their funds, and their privacy and security are highly maintained. The transactions taking place in the system are monitored and updated in real-time.
How much does it cost to build a cryptocurrency exchange?
The cost of cryptocurrency exchange development depends on the list of features to include, the number of coins and tokens to be integrated, the level of security, and so on. Therefore, you will be able to calculate the estimated cost after sharing your idea and vision with experts.
Regarding various challenges that you need to overcome while building your own cryptocurrency exchange facilities, it cannot but be a costly process. However, with a smart attitude and much of entrepreneurial spirit, you will be able to launch your startup with a very reasonable pricing policy.
Regardless of your choice of software, your perfect team should include project manager (unless you don’t want to take this position by your own), platform developer, QA engineer, experienced web designer, and a UI developer. The cost of their services will vary significantly depending on several factors. The most important here is probably your team’s country of location.
How do I create a Cryptocurrency exchange?
Starting a Bitcoin exchange involves six basic steps:
• Decide where you want to do business.
• Learn about relevant regulations in that area.
• Partner with a bank or payment processor.
• Establish a transaction history and liquidity on the exchange.
• Implement best security practices.
• Offer customer support.
What is Cryptocurrency exchange development?
Crypto currency transactions are recorded on the Blockchain, paving way for a decentralized value exchange. A Cryptocurrency Exchange development enables buyers and sellers to exchange their coins with other coins or to further sell or buy the crypto currency with the market trends.
Cryptocurrency Exchange Development Company
Blockchain advocates a ledger system that facilitates the recording of every cryptocurrency transaction which in turn paves way for a value exchange on a decentralized basis. With a customizable crypto exchange script, you shall be a vital part of the digital revolution coming your way.
In the world of digitalization, the online transactions, and the utilization of virtual currency is gradually increasing day by day. Since the origination of the world’s first virtual currency, i.e., Bitcoin in the year 2009, most of the countries are choosing virtual currency over real currency for making their financial transactions. A secured and bug-free exchange development is much needed for the virtual transactions to stop the fraudulent activities across the globe.
Key features of cryptocurrency exchange development
When you create a cryptocurrency exchange development, you need to carefully consider its intended functionality. While the number and the list of features vary according to the type of exchange you build, several core features form the basis of all cryptocurrency exchanges.
By way of an example, let’s take a closer look at the standard user flow and the features needed:
User:
• Registers in the crypto exchange system and indicates their cryptocurrencies of choice
• Verifies account according to Anti-Money Laundering (AML) and Know Your Customer (KYC) standards
• Funds the account
• Enters the value and volume of a cryptocurrency to be exchanged
• Concludes a deal if there is already a counter-offer available on the site
• Withdraws the funds to their credit card or to an in-app cryptocurrency wallet
By looking at the user flow, it’s clear that a cryptocurrency exchange development’s features should cover:
User authorization and verification – User authorization is the first step in onboarding, so provide a simple and easy process. Users do, however, expect other trading participants to be trustworthy and have good intentions, meaning verification is very important at this stage. Proper verification enables transactional transparency, reduces the risk of fraud, and shows that your cryptocurrency exchange adheres to international standards.
User interface – It's the face of your exchange platform, so make sure its design is simple, clear, and user-friendly. An intuitive interface ensures that transactions are executed efficiently, reducing trading time. The dashboard should provide quick access to features such as order management, order history, fund withdrawals and deposits, statistics, and so on.
Trade engine – The trade engine finds and connects traders. In addition, the trade engine’s quality greatly influences the speed and performance of the crypto exchange. The faster it is; the better service you provide to customers. Remember that users need real-time access to their trading data to effectively manage their investments.
So, place a special focus on developing your trading engine. The integration of blockchain technology can be a solution here, not only is it a guarantee of total security and transparency but it also offers a way of speeding up your trading engine.
Wallet – Provide your users with e-wallets to store and transfer digital money. Providing two types of wallets (cold and hot) is a good idea. Hot wallets allow users to transfer money into their balance and withdraw it. Cold ones serve as a backup since they're not connected to the internet and are therefore protected from fraud.
Transaction history and order book – An order book is a list of open orders that allows users to navigate the current bids. Transaction history enables users to track their activities. It's an overview of completed trades with transaction information such as the trade rate and time of the operation.
Analytical tools – A must if you want to build an advanced cryptocurrency app or website. Provide users with real-time data and additional information about market trends. There is a whole list of indicators that help traders develop their game strategies: Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), Bollinger Bands (BB), and more.
Push notifications – The best way to keep users updated on price changes, volatility, trends, news, and platform updates. Notifications can also help users track exchange listings. Just remember that users should be able to choose what notifications they wish to receive. Push notifications are easy, fast, and affordable to set up. Costs vary, but push notifications are cheaper than other automated marketing tools.
Best Cryptocurrency Exchange Development Companies
Are you in search of the Best Cryptocurrency Exchange Development Companies? You have reached the right place where you can be able to choose the best one form the list concerning the ratings and reviews. The bitcoin exchange websites are completely based on decentralized servers that are spread around the world. It is also not restricted to one particular location, which becomes a drawback for the hackers. Also, the platforms offer the ownership of cryptocurrency in the user’s hands just by serving as the bridge between the traders.
Cryptocurrency exchange enables clients to trade cryptocurrency for other digital currencies or cryptocurrencies 365 days a year empowering traders to use cryptocurrency pairs to profit from highly volatile currency rates.
The cryptocurrency market is forecasted to grow at a CAGR of 56.4% from 2019 to 2025.
Want to benefit from cryptocurrency exchange technology? Select RightFirms list of top crypto exchange development companies for your project on the basis of trusted customer reviews and ratings.
Looking for crypto exchange development companies?
List of Top-most 5 Cryptocurrency Exchange Development Companies in 2021 (Exclusive List)
What is crypto exchange? A crypto exchange is a crypto trading website where one can buy, sell, or trade popular digital currencies and other digital assets. Such as bitcoin, ethereum, ripple, bitcoin cash, and other reliable cryptos. It is also a great online business for young startups and entrepreneurs. Already many people started to build their own crypto exchange with the help of a cryptocurrency exchange development company.
Every person cannot shine in the cryptocurrency exchange business. Only with a good strategy and mind-blowing ideas in designing your exchange platform can make you succeed. Now you have a doubt where can I find a top-rated cryptocurrency exchange development company. Here I have listed some leading cryptocurrency exchange development companies. Which might help you to launch your own crypto trading platform in a perfect way.
Ulam Labs
Ulam Labs is a development company made of Python and blockchain experts. they focus on custom development, DevOps, consulting and outsourcing to ensure the best service and support for clients. They deliver software to startups and SMBs from various industries: FinTech, Telecommunication, E-commerce, Banking, Supply chain, Production and Manufacturing, and many more. They have experience in analyzing complicated business processes and turning them into simple software applications. their team works in an agile manner and provides exceptional value for money. The number of employees is 50+ and founded in 2012 and based on Poland.
Vision
they aim to be the go-to partner for the best global tech-based companies. they’re getting there by the best in class software engineering and strategic technological management.
Team
Ulam Labs is a team of over 30 IT professionals that keeps growing fast. they may come from various backgrounds, but that lets them look at your projects from many perspectives. The best products come from the best people, and in Ulam Labs this is not only an empty claim.
Services:
• MVP development
• Bespoke web development
• Mobile app development
• Web applications
• Dedicated development team
• Testing & quality assurance
• Blockchain app development
• Cryptocurrency exchange and trading platforms
• Digital wallet development
• Smart contract development
Service Focus
• Mobile app development- 10%
• Software development- 50%
• Cloud computing services- 10%
• Blockchain technology- 20%
Radindev
Being a cryptocurrency exchange development company, they offer services like cryptocurrency wallet development, crypto coin creation and mining and cryptocurrency exchange development services. Their crypto software allows users to process unlimited transactions online. They are known for developing high-tech crypto wallet web and mobile apps for secure and easy transactions of cryptocurrency. Besides this, they also offer crypto paper wallet and Bitcoin Wallet solutions. Their exchange platform allows smooth transactions over normal communication channel by converting mobile handsets into crypto wallets.
The number of employees is 100+ and founded in 2016.
Services:
• Mobile app development
• Web applications
• Dedicated development team
• Testing & quality assurance
• Blockchain web development
• Cryptocurrency exchange and trading platforms
• Digital wallet development
• Defi Development
• Decentralized Applications Development
• White Label Crypto Exchange
Service Focus
• Mobile app development- 20%
• Web development- 50 %
• Software development- 15%
• Web designing(UI/UX)- 10%
Maticz
Maticz is the proven Blockchain Development Company in India that provides an end-to-end business solution to climb your business on the success ladder. As an experienced blockchain development company, they have in-depth knowledge of AI, IoT, Blockchain, and cloud services. Experienced in developing multiple business solutions like Blockchain, fintech, Internet of Things, Artificial Intelligence, Machine learning, AR/VR, Big Data, BI, and cloud computing.
They have well trained Software Professionals to Deliver High-Quality software solutions that add value to your business. The number of employees is 50+ and founded in 2020 and based on India. They have a good team from the project manager to the programming team.
Key Clients
Their products and services cater to significant corporations and startups like CoinMumy, NEON, BitBaazi, Swap Node, Aya, FilipCoin, DigiTron, Bitendex, IOTU, etc.
Services :
• Blockchain Development Services
• Cryptocurrency Exchange Development
• Crypto Exchange App Development
• NFT Marketplace Development
• White Label Crypto Exchange
• White Label NFT Marketplace
• DeFi Development Sevices
• Token Development Services
• NFT Development Services
• Solana NFT MarketPlace Development
• NFT Music MarketPlace Development
• Binance Smart Chain Development
• BEP20 Token Development
• DeFi Yield Farming Development
• Erc20 Token Development
• Trc20 Token Development
• Launchpad Development
Service Focus
• Mobile app development- 10%
• Web development- 10 %
• Software development- 10%
• App designing(UI/UX)- 5%
Techugo
Techugo Inc is a leading Mobile and Web Application Development Firm based in Toronto with offices in the US, India, Saudi Arabia and Dubai.
Their brood of 150+ experienced and enthusiastic professionals have delivered 475+ successful applications and websites for their clients ranging from Global 2000, Fortune 500 and emerging startups hailing from 43+ nations all across the world. (22 +NATIONS SERVED)- (150 +BRANDS ASSISTED)- ($64 M +FUNDING RAISED).
They have conceptualized enterprise apps that are hailed amongst the best enterprise apps serving over 50 mn people. From the conceptualization of the project to technical assistance, and raising funds,their commitment to their clients is based on their foundational work ethics.
The number of employees is 50-249 and founded in 2015 and based on Canada, United States.
Services
• iPhone App Development
• Android App Development
• Web Design & Development
• Blockchain
• AR & VR
• IoT (Smart Devices/Homes/ Connected Cars) Application Development.
• QA/Testing Services
• Software Maintenance Services
Service Focus
• Mobile app development- 49%
• Web development- 3 %
• App designing(UI/UX)- 15%
• Blockchain technology- 8%
Technoloader
Technoloader (P) LTD. is a Blockchain development company which provides a wide array of services based on Blockchain such as Blockchain development, supply chain development, cryptocurrency exchange development, cryptocurrency MLM development, DAPP development, smart contract development, private Blockchain development, multi-currency wallet development and Hyper ledger Blockchain development.
Besides being an expert on Blockchain and cryptocurrency, Technoloader is a leader for various other IT solutions including Website Design and Development, Ecommerce Website Development, Mobile Application Development, Internet Marketing (SEO, SMO, PPC, ASO, ICO, Cryptocurrency Marketing), Hired Dedicated Resources (Blockchain, ReactJS, NodeJS) etc.
The number of employees is 10-49 and founded in 2016 and based on India.
Services
• Blockchain Development
• Cryptocurrency Development
• Cryptocurrency Exchange Development
• Coin/Token Development
• STO Development
• Tron dAPP Development
• Defi Development
• Smart Contract Based MLM web Development
• Website Design and Development
• Ecommerce Website Development
• Mobile Application Development
• Fantasy Sports App and Website Development
• Hire Dedicated Blockchain, React JS, NodeJs Developers
• Internet Marketing (SEO, SMO, PPC, ASO, ICO and Exchange Marketing)
Service Focus
• Mobile app development- 5%
• Web development- 10 %
• Software development- 5%
• Web designing(UI/UX)- 10%
This content originally appeared on DEV Community and was authored by vladimir sahin
vladimir sahin | Sciencx (2021-09-22T06:09:59+00:00) cryptocurrency exchange development company-factors you should know to choose. Retrieved from https://www.scien.cx/2021/09/22/cryptocurrency-exchange-development-company-factors-you-should-know-to-choose/
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