Exchanges work similarly to a broker, giving the trader tools to buy, sell, and exchange digital or fiat currencies. The transactions can happen through various payment methods such as debit or credit card, bank transfer, and electronic payment. They can
trade these digital assets whenever they want. To use the services of these exchanges, it is necessary to register and create an account on the platform. The best crypto exchanges make it easy to buy and sell the currencies they want to trade with low fees
and strong security features.
An exchange software is essential to facilitate trades between cryptocurrency buyers and sellers and brokers. However, only developing a crypto exchange website is not enough to improve the current market. Nowadays it has become a priority to build an exchange
with advanced features and functionalities. The platform needs to ensure the peoples' funds and assets security, the privacy of their information, and operational efficiency while also working on improving the users’ experience.
3
ways to develop a crypto exchange company
1.develop from scratch
Developing your crypto exchange from scratch can be full of the challenge because it includes a lot of hard work and effort to spend on this process. This method is time-consuming and needs a lot of money. It has different steps and if you want to go through
all these steps such as gathering a team, debugging, picking a strategy, and steps like this it will cost a lot of time and money. When developing your crypto exchange all important parts should be implemented. Developing the crypto exchange from scratch is
a good idea when you want to have full control over all the aspects of the website and you have enough time and money. It has many risks such as security risks in case of bugs or some flaws in the platform because it’s completely new software and developers
may face some unpredictable obstacles.
If you want to develop your exchange website all on your own you have to go through some steps:
• Obtain legal organization to ensure the licensing requirements are met
• Connecting your exchange with other exchanges for providing liquidity
• Work with payment processors or a bank that accept cryptocurrencies
• Implement the best security features
• Go live with the beta testing of that software before launching it to the market
Or you can find a cryptocurrency service provider to do all these steps for you but like I mentioned before it will cost you a lot.
2.
white label crypto exchange
White label crypto exchange is a ready-made solution, where it includes all features and factors of an exchange website like a matching engine, trading platform, or liquidity module. Because the white label solution is pre-developed so it cost less and you
don’t need to go through all the developing processes so it needs less time than building an exchange from scratch. Because it’s tested and it’s working on other platforms so the chance of facing unpredictable problems is very low.
What
is a cryptocurrency exchange software development company?
Software development is one of the key aspects for any business, these days with this progress in the digital world., software development is the term that comes with designing, creation of the web, web app development, e-commerce designing. All of these
actions vary for each platform based on the requirements of each business all of these can be made for each website by a
cryptocurrency exchange software development company.
Cryptocurrency
exchange services have different types
Centralized exchange
in this kind of exchange, a third party is needed for the trade to be executed and the two parts of the exchange don’t have complete control over the transaction. A trusted third party must be in this kind of exchange to happen. It’s like the traditional
exchanges and most of the exchanges work in this way. Transaction speed is so fast here.
Decentralized
exchange
In these p2p exchanges, individuals work directly with each other and no third party is needed for the transaction to be executed. In this type of exchange, the traders for both sides (I mean the seller and the buyer) connect directly, and they have full
control of the transaction in their hands.
Hybrid
exchange
The hybrid exchange came to cover the shortcomings of the centralized and decentralized exchange. So now hybrid is the combination of the fast transaction speed of centralized exchange and the security and private key of decentralized exchanges. The hybrid
exchange address the high fees in DEX. In the hybrid exchange, there are no trading fees.
Note: keep in mind to check if the company you have chosen provides the type of exchange you have chosen f not you have to reconsider the company and find the company to provide the type of exchange that you want to develop.
Tips
to choose a software development
Different software and blockchain development companies are available in the market, and most of them are not famous like google Instagram or other famous companies. You may hear their name for the first time in
your life so you have to know how to recognize them.
Great companies have a great brand so what does this sentence mean? A brand is not something you can see or touch, the brand lives in people’s minds, everyone who experiences pleased customers, media, and so on is a great example they connect with people’s
emotions. We can simply say the brand is a perception.
How to understand that a company has a great brand? If you heard about the company if you know why the company exists if you can easily find information about the company. If you have seen the company at events and conferences. If the employees happily talk
about it and the customers are excited and love the products, it means that the company is doing its job in building the brand. This can be the first thing in your mind when you are trying to find an awesome company for the first time.
The most valuable asset of any company is their people were employees because everything is made because of them. Research what type of people work in that company who are they are they well-known professionals in the industry? Are they part of the development
community are they sharing knowledge and experience at events.
It’s better to know what the purpose of that company is. Why are they different and what their business model is this will give you a perspective of whether the company is valuable and useful.
In this article, you will learn to choose the best cryptocurrency exchange development company that cope with the task and will work at a reasonable price among thousands of cryptocurrency exchange Development Company.
Portfolio
The first thing to do Is Check the list of completed projects with detailed information and statistics. Usually, the developers put the projects that they are proud of on the top. Examine their frameworks and compare them with what is written on the website
that is working.
Their previous completed projects will tell you a lot about the company like the framework they use, their methodologies, and strategies they have for developing an exchange platform. Are they secure, user-friendly fast, and robust?
What is their user’s feedback?
Then it’s time for exploring the customers’ feedback. Searching through the customer section you will find valuable info about how the company work, its communication with the clients, on-time delivery, and things like this. You can find reviews on third-party
services for example, on
bitcointalk,
github,
linkedin.
Geography
Check where the company is and where its offices are located. Avoid the developer companies that are hiding offshore.
Security
People are going to put their hard-earned money into your platform so security must be the most important factor in the exchange. So check the security features that this company uses in its projects.
One of the ways can be checking what technologies they use to develop these exchanges. Because updated programming languages or newer versions of technologies will reduce the chance of being hacked because the provider companies will solve the bugs in the older
version.
So make sure they develop your exchange website with the best security practices.
Customer support
Check how long this company will provide customer support for the product that they have sold to you. The crypto world is a world full of risks and it’s a complicated market so having 24/7 customer support is an essential feature that each exchange website
may have. A team that is ready to solve the technical issues of the clients as soon as possible.
Field of knowledge and experience
Knowledge and scope of activities
In many ways, hiring a cryptocurrency development company is similar to hiring a development company to create a software product with some differences.
• Blockchain code is written in many standard programming languages, including C++, C#, Python, JavaScript, Java, node.js, and Perl.
• Creating commercially viable blockchains, smart contracts or related products requires extra experience in several technologies, such as SaaS, Paas, IoT, P2P networks.
Developer’s type
Each company has developers with different responsibilities
• Dapp application or smart contract to work on an existing blockchain
• A product that can be used (sold) in the market
• Blockchain for use within a single organization
The size of the projects they have developed successfully
Check the size of their previous projects, read this phrase if one person is a good mayor in a small city it doesn’t mean he can be a good president. So it works here to if a company has experience in small projects it doesn’t mean it is suitable for advanced
and huge projects.
The crypto industry is becoming so popular among people all around the world and many people around the world are showing interest in this market. As it gets more popular more entrepreneurs to enter this field to gain profits from this market. Now we have thousands
of exchange platforms and thousands of cryptocurrency exchange development companies that provide services for people. All of these companies claim that they are the best in their field and they provide the best services. Now the question is how to find the
best exchanges in this ocean of companies? Well it’s not that easy it is a time-consuming process but no worries you can use plus the factors that we mentioned above we have checked some of these companies and we have listed them in the following for you.
Top
5 crypto exchange development company
Unicsoft:
Unicsoft is a reliable technology consulting company, which is established in 2005, providing AI and Blockchain services to drive business outcomes for startups and enterprises. Expert people work in this company and they have experienced team in order to provide
the high-quality services for the business and their clients.
Radindev
Radindev has proved itself as one of the best crypto exchange service providers by the successful projects that it has in its portfolio. This company put all of its efforts into blockchain development. They have a team of blockchain and software development
expertise to deliver a safe and robust platform to their customers.
Labrys
Labrys is a leading Australian blockchain development company and solution provider. They provide end-to-end services for any type of customers that are looking to design, build and launch innovative blockchain products, from individuals, startups to governmental
clients. Their team of experts tries to merge the blockchain technologies with modern business in order to solve emerging problems.
Technoloader
Technoloader is a blockchain development company in India that provides a wide range of services based on blockchains, such as blockchain development, chain development, crypto exchange development, MLM development and wallet development, and some other services.
They put effort into finding ways to make the technology better and use it in the projects we have to make them productive and useful.
Bitdeal
Bitdeal is a known cryptocurrency exchange development company whose main focus is to reduce the risks in bitcoin trading and encourage the new cryptocurrency startups by providing well-developed cryptocurrency exchange software. Bitdeal has worked with more
than 50 countries and left pleased clients all around the world.
Bitdeal is mostly known for providing blockchain solutions that contain smart contract development and blockchain technology by hiring well-experienced blockchain developers.