Bitcoin is the first form of cryptocurrency currency released in the market and these coins are not issued or controlled by any centralized authority. Security and safe transaction is one of the many reasons behind the huge popularity of cryptocurrency. There are as many 1500 types of cryptocurrencies and the most popular are Bitcoin, Litecoin, Ethereum, Zcash, Ripple and Dash etc.These cryptocurrencies are exchanged via bitcoin/ cryptocurrency exchange platforms. The absence of any third intermediate person between buyer and seller in DEX method of exchange has intrigued individuals to develop cryptocurrency application to start entrepreneurial business.
CRYPTOCURRENCY EXCHANGE
In digitized platform the cryptocurrency such as bitcoin is exchanged with other cryptocurrencies such as ethereum, litecoin vice versa. The cryptocurrency exchange is popularly known as digital currency exchange. There are three types of cryptocurrency exchange centralized cryptocurrency exchange (CEX) which involves a body for the facilitation of the currency exchange between buyer and seller, decentralised cryptocurrency exchange (DEX) platform where the buyer and seller comes together to process the transaction between each other and Hybrid crypto currency exchange which includes both DEX and CEX methods.
The absence of any third intermediate person between buyer and seller in DEX method of exchange has intrigued individuals to develop cryptocurrency application to start entrepreneurial business.
Cryptocurrency exchange application/software development
The increasing demand for cryptocurrency exchange apps will continue to rise with expanding trade volumes around world. At this point, launching a crypto exchange app is far better choice for an entrepreneur. Make sure the developed application is compatible with next generation features for it to maintain its place even during heavy competition.Essential components such as the those given below has to be considered while developing cryptocurrency exchange application.
Setting up a trading engine - A trading engine is the core of any exchange and run operations. It is important to execute transactions, calculate balances, access order book and match all the buy and sell transactions on an exchange.Trading engine should be the priority while building a cryptocurrency app.
Front end user interface - This can also be called as the face of your exchange; the way users see your exchange. It includes few functionality such as user registration and login, Fund deposit/withdrawal,View order book, transactions, balance, statistics, charts, etc.,buy or sell orders, support features.
Cryptocurrency wallet - Wallet creation will help in the storage and transfer of cryptocurrency at ease. Development of wallet solutions with high end security will help in the development of trust between user and the platform.
Admin console - Admin console helps the owner to manage different operational aspects of the exchange. The features of a console can be customized based on business requirement.Generally, every admin console should provide options to edit trading fee, managing cryptocurrency listing, adding new currencies/ debiting funds to wallets and addressing support issues.
Other add on features such as to provide a personalized and user-first app,multilingual support, allow users to fast and easy exchange of cryptocurrency, responsive app design for mobile and tablet, attractive user interface, real time currency news provided side by side etc., have to be considered while developing cryptocurrency exchange app.
The possible revenue model for your cryptocurrency exchange application
The revenue model for any exchange app would be the percentage amount chosen by the app owner as a mediator. Other method includes Google AdMob integration for banner and interstitial mobile ads, Sponsored Advertisement with custom sizes. Referral method to grab the visitors, creating a pro version of the app with additional features, Enable text, carousel and video advertisement.
Where you can get a software to develop a bitcoin or cryptocurrency exchange?
There are numerous platforms which provides a ready made script for the development of cryptocurrency exchange platform such as Pulsehyip. Pulsehyip is one of the top leading cryptocurrency exchange platform development which continues to grow because of its mission to make your vision of cryptocurrency trading business to live. Full-featured PHP cryptocurrency exchange website script to start a trading business in bitcoin, ethereum and altcoin. For more information click here! : Cryptocurrency exchange platform development