Cryptocurrencies are on the rise this year, attracting investors from around the world. But in order to trade cryptocurrencies safely, going through a reliable platform is essential. As such, you are probably wondering what is the best cryptocurrency platform. How to make the right choice, what criteria to look at? How to invest your money safely?

This article will help you build your crypto exchange by presenting a structure of Cryptocurrency Exchange Platform Development. We will end up giving you some advice to start the business with complete peace of mind.

Before we get started, let’s cover the basics.

What Is a Crypto Exchange?

Crypto Exchange, Cryptocurrency Exchange, or Digital Currency Exchange is an online platform for buying, selling, and transferring crypto. In these exchanges, you can buy the currency using the current currencies or Fiat (dollar, pound) or vice versa, you can convert the cryptocurrencies into other cryptocurrencies, or you can participate in trading transactions with the cryptocurrencies and buy and sell.

Advantages and Disadvantages of Crypto Exchanges

Advantages

• Easy and convenient interfaces for digital currency trading
• Possibility to acquire cryptos in limited quantities
• Easy-to-access sites for beginners in the world of cryptos
• Possibility to trade many cryptocurrencies, even the most recent ones
• Several payment methods
• Various options available for cryptocurrency exchange
• Crypto custody feature available
Disadvantages
• Capacity further reduced in terms of the number of cryptos allowed
• Relatively expensive transactions in terms of fees
• Geographical restriction of access to certain platforms

The Features of the Cryptocurrency Exchanges Platform

To attract more users, the best cryptocurrency exchanges offer additional features. Indeed, you can have the training, webinars, tutorials to help you in cryptocurrency trading. These are elements not to be overlooked because they can make you an informed trader. It is by taking into account all these parameters that you can choose the best platform for you.

The Advantages of Developing a Crypto 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 increases. Therefore, as a business owner, you have to see the factors and come to a conclusion that developing a cryptocurrency exchange website 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 Much Does It Cost to Build a Crypto 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 our 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 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 a project manager (unless you don’t want to take this position on your own), a platform developer, a QA engineer, an 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.

What Is Cryptocurrency Exchange Platform Development?

Cryptocurrency Exchange Platform Development is a ready-to-launch Cryptocurrency Trading platform inbuilt with advanced features that allow you to launch a profitable cryptocurrency exchange immediately. There are various layers of high security that prevent fraudulent activities and assure that your money would be safe. The flexibility offered with the white label exchange platform empowers any customization to facilitate customers as per their requisites. You get 100% unencrypted source code of this exchange platform. Customize at your will, Add/ Edit any feature easily.

Features of Cryptocurrency Exchange Platform Development

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.

Last Words
An opportunity to outshine the global crypto exchange platform is right in front of you. Making use of this opportunity will help you grow immensely. With no further delay, you can start with the process of choosing the best platform development firm, and launch your own business.