What is Cryptocurrency exchange?
Cryptocurrency exchange is nothing but the conversion of digital money into another form of resources for example convention fiat currency. Cryptocurrency has revolutionized the word. The original concept was to digitally transfer money between two parties without the interference of the third party. That is something incredibly different and appealing. The mark that Bitcoin has made in the market is vast as the price of Bitcoin has increased enormously. Right now the number of people using Cryptocurrency are few only technology innovators, startup entrepreneurs, IT enthusiasts, etc. Cryptocurrencies are not able to reach ordinary people. If Cryptocurrency will have a good and easy to use Cryptocurrency exchange website more and more people will be able to use it. To achieve a wider audience Cryptocurrency exchange website is necessary.
The process to develop a Cryptocurrency exchange website
The initial step to start any business is to know your competition. Even though the concept of Cryptocurrency is new, but there are various Cryptocurrency websites already present in the market. It is because of its success in the market. You can know about them by going onto their sites on google. Choose the location you want to build your app; it is because of the reason for rules and regulations in certain countries. If you’re going to grow your business into your native country, then you will have to follow the rules of your state, but if you want to expand globally, then you will have to follow the rules of many other countries too. While making an app first, you must choose the kind of audience you want to target first this will help you grow your business. Secondly, this will help you select the type of product marketing you must do. In the last, you need to find a skilled and experienced developing team that will develop your application according to your requirements.
Top Features of Cryptocurrency Exchange
As all of the transactions made is in digital and is stored on blockchain so the website must be correctly secured. To protect it from hackers, you will need to apply the robust cryptographic algorithm. We at addon will ensure your app entirely.
Supported various Cryptocurrencies
There are multiple Cryptocurrencies other than Bitcoin available in the market. First, decide which Cryptocurrency you are going to use and then make sure you must be able to interchange them with the help of your app.
The user must make sure that his exchanges have sufficient cash and trading volume with the help of which his transaction can be fast and easy. User’s speed of trade compromised if he doesn’t have enough liquidity.
Cryptocurrencies wallet is a digital wallet that can be used to store, send and receive digital currencies such as Bitcoin, etc.
When you exchange from Cryptocurrency to other currencies, there is a fee that you will have to pay for the conversion.
Security Features for Cryptocurrency Exchange
We will provide most secures HTTP authentication tokens such as OAuth.
The account of the user blocked after a fixed amount of failed login attempts.
Encrypt the data
We will encrypt all the essential and useful data of the user on the app.
Anti-Denial of Service
Our app will be able to defend his exchanges against large requests to the server.
Security for Cryptocurrencies Wallet
The user will be able to save his coin in secured e-wallets that is present on the block-chains. We will apply strong encryption for it.
Elliptic-curve cryptography (ECC)
The address of the wallet has a public-key for cryptography, based on the algebraic structure of elliptic curves over finite fields. The address of the Cryptocurrency wallet is in the form of an alpha-numeric structure.
Multi-signature will add a layer of security for the wallets.
Two-factor authentication means providing security using two different factors that are Private Keys & QR Scanner.
Why Addon Solutions for your Cryptocurrency Exchange App Development?
Cost effective than building from scratch
We will provide you with an app that is cost effective. We will develop your app from scratch according to the needs of the customer instead of copying it from Git-hub.
Cryptocurrency is altogether a new business where it is required to be aware of all the news and trend of the market so once you enter Cryptocurrency business, you must always remain up to date.
We will provide a good user experience for the user so that it will give them convenience while using our app.
Just developing an app is not necessary; we must also do its marketing with the help of blogs, web advertising, and social media. So that more and more people can know about our app.
FAQ’s(Frequently asked questions)
Will, it is secure for me to exchange currencies?
Yes, it will be entirely secure for users to exchange their currencies because we will provide you with strong cryptographic security.
Is there an amount that the user will have to pay while exchanging?
Yes, there is an amount that the user will have to pay while exchanging but it will be less than 1% or based on your % settings
Will, I be able to exchange significant amounts with the help of bitcoins?
Yes, you will be able to transfer any cost with the help of Cryptocurrencies as third parties not included in it.
Is Bitcoin legal?
In some countries Bitcoin is legal, and in some, it is not. It is banned entirely in some countries while others are writing legislation to attract digital businesses to their friendly jurisdiction.