How To Develop A Cryptocurrency Exchange Platform

Cryptocurrency exchange platform
Aug12

What is it?
Cryptocurrency trading is a platform that allows one to buy and sell digital currency online based on the market value of the given asset. The platform deals with both coins & tokens and even allows fiat money to be exchanged in crypto, i,e., both fiat-to-crypto, and crypto-to-crypto exchanges.

The value/price of these coins depends upon the exchange (buying & selling) pattern.  The exchange determines the value of coins based on its supply & demand, which means the bigger the exchange the more market-relevant value there will be.  

Cryptocurrency Pairs

Eventually, users will be exchanging in trading pairs like BTC to USD, or other currencies. The value of other currencies is compared with Bitcoin. Popular crypto-to-crypto pairs so far are BTC-LTC or BTC-ETH or vice versa in both. The profit & loss are also measured regarding the currencies a user wants to trade with. 

Before choosing a trading pair, one will ensure that it is profitable and there will be no loss of any money, for that always consider the current trading volume, this will help anybody to choose the right trading pair; apart from that, users  check if the exchange will allow you to use the specific base currency or not. The exchange provides varied pairs depending on different platforms that are used, but all the platforms have a minimum of three or more popular options to look into. 

It is imperative to choose the right base currency before proceeding with the exchange. As some platform disallows to make initial cryptocurrency purchase with fiat currencies. It is suggested to always look into the value and the popularity of the currency before diving in to make an exchange.

The most popular base currencies are Bitcoin, Ethereum, and Litecoin. After the users analyze and understand the way to make an exchange, they create an account, they will add currencies in their crypto wallet. 

Three types of exchange :

  1. Trading Platforms: Connecting buyers and sellers.
  2. Brokers: The exchange is made through a middleman/ dealer network who charges a minimal fee.
  3. Direct Trading: This is direct peer-to-peer trading allowing users to exchange currencies across the globe where buyers and sellers settle on a certain price.

Best Cryptocurrency Exchange Platforms

  1. Coinbase
  2. Binance
  3. BitMex
  4. Bittrex
  5. Poloniex
  6. Kucoin
  7. Huobi
  8. Kraken
  9. Bitstamp

What do people check before choosing a platform?

It is an axiom that before people choose a platform, they need to do thorough research. Enlisted below are some basic pointers that people check to make a wise choice.

  1. Security - The first & foremost vital feature any platform should give. A platform should give currency security from hackers and peace of mind its users.
  2. Supports cryptocurrency - Most platforms only abide by certain currency. Users ensure that a platform transacts the currency they wish to invest in.
  3. Fees/Commissions - A platform with a reasonable fee is the best bet as nobody wants to lose their profits over transaction fees.
  4. Whether or not the modes of payment are convenient for them.
  5. The UI of the platform should be accessible enough for them to make an exchange without getting confused through the process. 
  6. Trustworthy/Credibility

How we do it?

W3villa has been developing the Cryptocurrency trading platform enabling quick & secure transactions of virtual currency, our developers have experience of more than 8 years and have delivered sturdy and reliable cryptocurrency exchange solutions by integrating customized platforms for entrepreneurs & business. 

We aim to build accessible and authentic exchange platforms for businesses. 

Application Development

First thing first, we develop customized applications based on the requirements made by clients. We offer secure and technological advanced solutions. Our highly efficient team of blockchain developers will develop everything from UI design, admin panel, trading engine to engineering a full development stack. We have our researchers who keep on looking at the trends and the services that are demanded in an exchange platform. We work with other frameworks like Angularjs,  NodeJS, Ruby on Rails, and many more. 

Crypto-Wallets

These wallets like the physical wallet store virtual currencies online. The users can manage and transact currencies from their wallets. Different types of cryptocurrency wallets are integrated like web wallets, mobile wallets, hardware wallets, software wallets and desktop wallets by our team. 

Enterprise Ready

Our customized solutions are integrated with features that offer the best security and privacy required in such platforms. They are scalable and every information is secured through different processes like two- way authentication. We focus on building next-generation applications using blockchain technology that you can use today.

Consulting & Planning

It goes all the way from the beginning until the end. Our developers are trained to guide you through every step of the planning and the process of implementing the cryptocurrency trading platform. We are also known for providing the best assistance through regular meetings and updates. We don't make a move until the clients are also on the same page with us. Once every aspect is thoroughly discussed we start integrating and deliver the project.

Blockchain Professionals

Our hired developers are proficient with the technology, it's API’s, databases, software frameworks, testing, storage, and security.

Features :

  • Exchange Platform

Our designed exchange solution architecture facilitates simple connections to KYC/AML, authentication, ETL/reporting, etcetera. Multiple accounts can also be created and multiple currencies can be traded as well. For users across the globe, multiple languages can be easily integrated. 

  • Transparent & Configurable

The technology is in itself transparent, every action/transaction is visible to the peers, hence, it kills the chance of any kind of hacking. As we implement the customized project, we use tools & technology that is strong yet suits the demands of the project.

  • Enterprise Exchange

Scalable, secure and simple for both users and business. Verification of exchange without compromising the user’s privacy via Proof of solvency.

  • Responsive Design

Accessible functions, easy deposit & withdraw process, registration and login interface. The users can conveniently access the platform through any browser both on desktop & mobile. 

  • Deploy on AWS
  • Services integration
  • Setting Access Control
  • Manage your costs

W3villa Technologies has successfully delivered tailor-made exchange solutions matching every need of the businesses. We understand that security and efficient programming are core to the platform. At all levels, we will be guiding you on how to keep your data secure and the necessary steps that needs to be adhered. Our team includes Project Manager, Trading Platform Developer, QA Analyst, Web Designer & UI Developer all experienced in their respective fields. 

Hopefully, this gives you an idea of what needs to be done if you are thinking about having your own platform. 

Wait! There’s more! Click on the links below to understand more about our services.

I want to hire you to develop my Cryptocurrency Exchange Platform


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