OTC exchange vs P2P exchange

The cryptocurrency exchange and trading might seem similar but altogether different. Based on the convenience and the mode of exchange Bitcoin Exchange Software can be divided into 2 further types as per the title. Over the counter exchange and Peer to Peer exchange are the two major types of exchange that have been used widely. Choosing either one of the types as the best is kind of a Battle Royal, though we are aware of certain key elements of both the exchanges we can compare it better.

Let’s save some time:
Timing is the major factor in any kind of activity, if a similar activity is performed with the same result at different times the better-timed feature will be preferred by any section of the users. In terms of time, the OTC exchange follows a direct buy and sell method with the broker or an administrator. So when the user wants to exchange the anytime active broker desk will be available to complete the transaction instantly.

Considering the P2P exchange, it is a peer to peer activity and it will be processed between the users directly. The process will be as whenever the buyer finds the seller, the trade will be initiated and then it will be completed. Here it will take time to find the suitable buyer or the seller to pursue the transaction and the timeline is completely dependent on the availability of the counterparty to proceed the transaction which makes the timeline uncertain.

Making money:
The cryptocurrency exchange process will be initiated only in order to make a profit in most of the occasions. Choosing the type of exchange that is going to be pursued can be decided based on the amount of profit that differs in both the possible modes of exchange. When the user wants to sell it instantly it is best to choose Over the Counter bitcoin exchange rather than peer to peer exchange but when the user prefers to exchange with a better profit margin then the user should choose peer to peer exchange where they can meet multiple buyers or sellers to choose.

Conclusion:
Both the platforms have their own advantages and disadvantages and ultimately it's the trader's decision to proceed with the convenient mode of exchange. In an entrepreneurial point, both types of exchange applications are successful in the market and serve as a good idea, to begin with. Cryptocurrency exchange development companies offer the plug and play Whitelabel bitcoin exchange software for the entrepreneurs to begin their business with. Cryptocurrency trading script similar to localbitcoins and luno helps you to launch an OTC exchange platform instantly. Hashogen Technologies is one among the top blockchain and cryptocurrency exchange script providers in the market that offers a well developed and tested application that is more affordable and flexible.

Source: https://cryptoexchangesoftwares.tech.blog/2020/06/02/otc-exchange-vs-p2p-exchange/

How to run a cryptocurrency exchange successfully?

Launching a cryptocurrency exchange can be done within a shorter period of time than one can imagine. With the help of a feature-filled bitcoin exchange website script, cryptocurrency exchange business can be started within a single day in no time but launching the exchange in the market is not enough to run the exchange successfully and to sustain. There are a lot of factors that are needed to be successful and it should be followed in order to run the exchange successfully. Things that should be noted for the proper running of exchange are mentioned and described below.

Liquidity:
Providing liquidity for the users in the exchange throughout the run is a much-needed aspect that is needed to be considered. With ever-flowing liquidity, trade should proceed constantly and without any interruption.

Scaling:
A cryptocurrency exchange should be scaled from time to time in all aspects. It is mandatory to integrate new currencies often which will motivate the traders to trade often. The scalability of the exchange also depends on the introduction of new features within the platform will engage the traders and users to invest more time and money into the platform thus increasing the market capital and reputation of the exchange application among the users.

Easy check-in and out:
Even after the increment in the number of users, checking in and checking out of the exchange should be hassle-free. This includes approval of the KYC, Instant deposit and withdrawal, instant trade, etc. The entire flow should not get delayed and if it is delayed then the reach of the platform will be diluted. To become the best cryptocurrency exchange software it is mandatory to have a proper check on the things mentioned above.

Global Audience:
Marketing is a very important factor to be considered in any kind of business. Marketing can make or break a business with its approach. Promoting an exchange needs perseverance and the right way of approaching. By reaching global audiences through effective marketing opens a lot of offerings for an exchange platform like tying up with the local exchange for maximising trade and liquidity.

Security:
Even exchanges like Binance and Bittrex lacked security and paid a price for it by losing cryptocurrencies worth millions. So it is important to check and identify the vulnerabilities of the crypto exchange software. Integration of hot and cold wallets and mechanisms such as vault storage will also be helpful to improve the security of the exchange platform in all aspects.

Availability:
The exchange platform should be available for the users and traders at their convenient reach. The platform should be available in both the web and mobile versions and it should not be limited to a specific type of Operating system. This will increase the platform's availability and it will improve the involvement of the users.

Source: https://cryptoexchangesoftwares.news.blog/2020/05/18/how-to-run-a-cryptocurrency-exchange-successfully/

What is a hybrid cryptocurrency exchange?

The centralised cryptocurrency was the first exchange software that was developed and launched for the traders to convert the cryptocurrency to fiat currency and vice versa. Later after that, the centralised cryptocurrency exchange allowed crypto to crypto transfer due to the increase in the number of cryptocurrencies. Based on the advancements and the feasibility of the technology, Decentralised exchange was introduced. A decentralised exchange is a completely automated exchange. With the help of the smart contract that supports from the backend, decentralized exchanges can execute the trade without any manual operation. Years passed after the invention of decentralised exchanges but the technology provides the feasibility to invent a new type of exchange called a Hybrid exchange.

Hybrid exchange is a type of exchange which evolved by combining the mechanisms of Centralised exchange and decentralized exchange. Months after formulating the structure and developing by avoiding greater complexity while merging, Hybrid exchange is in its final leg of completion. Many development companies and the team of developers are working through it to conquer the market with such applications currently. Hashogen Technologies is also involved in the race of making a Hybrid exchange that can be able to be on par with the product that is going to hit the market.

The bitcoin exchange website script in hybrid mode will let the entrepreneurs launch an innovative type of exchange that can be able to win the market of centralised exchanges and decentralized exchanges jointly. The traders will also be able to perform trades with better security and with greater efficiency using the hybrid exchange.

The general objective of the Hybrid crypto exchange software is to take the experience of trading to the next level. Even popular exchanges like Binance are almost on the verge of becoming a hybrid exchange which increases the efficiency and speed of the matching engine and it reduces the time it takes to complete the trade.

Once after the launch of the first hybrid cryptocurrency exchange, it has the potential to become the best cryptocurrency exchange software application as it is packed with features. A proper mechanism that executes the trade off-chain that reduces the weightage of the block to block transfer thus results in a direct increase in speed and reduction in server loading speed. Hybrid cryptocurrency exchange would become the elite kind of exchange which can make the integration coins of different blockchains under a single roof much easier.

Source: https://cryptoexchangesoftwares.art.blog/2020/05/14/what-is-a-hybrid-cryptocurrency-exchange/

Essential features of Binance clone

It is a trend among the entrepreneurs to adapt or to recreate the business model of already existing applications which is successful and popular. People who know about cryptocurrency would definitely know about Binance as it is one of the most popular and highly successful exchanges in the market. Handling cryptos worth millions of dollars daily, Binance sets a benchmark for all other exchanges. There are many clone software available in the market which are promoted as Binance clones are the first to get approached by the entrepreneurs if they’re intended to start a cryptocurrency exchange. To adapt the tag Binance clone the script or the software should possess some essential features.

Trading Engine:

Trading Engine is the heart for any type of exchange software, So it is important to identify the capacity of the trading engine and the ability to handle the vast amount of transactions.

Order types:

By default, it is mandatory for a cryptocurrency exchange software to possess the essential order types. Limit order, Market order and Stop limit orders are the three major needed types of orders.

Captivating UI:

The exchange software similar to Binance should possess a captivating UI. UI is the first thing that the user or the trader will notice. The UI should be simple but attractive and easier for the user to manoeuvre.

Security:

Security should be like a skin for an exchange that should not be penetrated. A direct breach and indirect breach should be avoided and the system should boost the confidence of the user who uses the exchange with its security setup. Other than the mandatory 2FA, Withdrawal confirmation and other features, the internal security tuning should be done for the wallets and for the cryptocurrencies.

Apart from the essential features pointed above there are some of the advanced features available in Binance like P2P cryptocurrency exchange, token launch pad, margin trading and other features can be optional but it should be offered by the respective bitcoin exchange platform software provider to scale the exchange in a good and efficient manner.

Bitcoin exchange platform like Binance is offered by Hashogen Technologies which is one of the leading companies that offers solutions and services related to cryptocurrencies and Blockchain. At an affordable price and with a clear instruction during setup and after installation support Hashogen Technologies will be a good tech partner for the entrepreneurs who want to start an exchange like Binance.

Source: https://medium.com/@cryptoexchangesoftwares/essential-features-of-binance-clone-d9402f79f330

Why is this the right time to start a Bitcoin Exchange platform?

As the world is facing a pandemic which is almost as bad as the nightmare that will never gonna end in near future, the bitcoin price is constantly giving hope to its traders by maintaining a solid position in the graph. Being the master of cryptocurrencies, bitcoin is leading other cryptocurrencies from the front to hold the position in the market. This steady hold over the market gives hope to the entrepreneurs and traders a hope in mind. All kinds of businesses are getting affected badly and facing losses, launching a bitcoin exchange platform stands as a solid idea in the minds of entrepreneurs.

Bitcoin exchange platform can be launched within 4 working hours with the help of the cryptocurrency exchange software offered by Hashogen Technologies. 4 working hours to launch a cryptocurrency exchange may sound magical and next to impossible but the tried and tested software developed by knowledgeable professionals makes it possible. By providing the needed details, the exchange platform can be launched on a server with the total control for the admin to operate the entire exchange. The basic details that will be needed to launch the software are as follows:

• Logo and the name of the exchange that the entrepreneur prefers
• Preferred color scheme
• Server with the requested specifications
• Fiat currency details if needed

Once after providing all the information needed, the 24/7 working team of Hashogen Technologies will ensure that the installation will be done within 4 working hours. Bitcoin Exchange Platform Software offered by the team of Hashogen is developed by the in-house R and D team of the concern that is secure and can be able to process the transactions with ease. The security features enabled in the software ensures the security of not only the cryptos but also the data of the traders. The legitimate cryptocurrency exchange software provides the features that are essential to operate the bitcoin exchange platform under any jurisdiction. Features like KYC/AML provides the upper hand for the admin who operates the exchange to filter the users register in the platform.

Getting the Bitcoin exchange platform software from Hashogen Technologies is a great deal to seize the market at this time of pandemic that further boosts the confidence in the mind to scale the business to a greater extent.
Source: https://cryptoexchangesoftwares.tumblr.com/post/617564091865825280/why-is-this-the-right-time-to-start-a-bitcoin

Reasons why localbitcoins is a successful business model to be considered

Localbitcoins is a popular cryptocurrency exchange software that relies on a popular business model called escrow and dispute settlement model. This model is followed by many businesses that are done globally and the advantage of the model is that the user can be able to do the operation like buying or selling with a completely unknown person from any part of the world.

This popular method is adopted in localbitcoins, and the entire business operation is carried out by keeping this mechanism as a base. Implementation of this feature in the platform increased and it drives users towards it as it is already a tested and reliable method to perform transactions. As we all generally know the transaction will be performed as follows:

• By contacting the seller the trade will be initiated. Once after the trade has been initiated, the seller’s cryptocurrency will be escrowed by the automated mechanism and it will be forwarded to the admin’s control.

• The buyer will perform the transaction through the preferred medium for the buyer and intimate the seller about the transaction.

• The seller will confirm the transaction and release the cryptocurrency and the cryptocurrency will be transferred to the buyers account instantly and the operation gets over.

• In case of any issues, the respective parties will raise the dispute to the admin and the admin will sort out the issue by analysing the given evidence

This is how localbitcoins works and it motivates many entrepreneurs to follow the same. Starting an exchange like localbitcoins is one of the safest ways to invest and it assures the returns in a safest and easiest way than the entrepreneur can imagine.

Right place to find the best localbitcoins clone script:
Many cryptocurrency exchange development companies offer Whitelabel cryptocurrency exchange scripts like localbitcoins but, the number of software that functions with the proper flow and mechanism is very less in the market.

Hashogen Technologies is a leading Bitcoin Exchange Software development company that offers the exact and functional clone of localbitcoins that functions and satisfies the needs of the entrepreneur. The software offered by Hashogen technologies draws the users with its simple and easy to manoeuvre design which helps the investor to run the exchange successfully in the market. localbitcoins clone script offered by Hashogen Technologies is more affordable and it is the only scalable bitcoin exchange script available in the market.

Source: http://cryptoexchangesoftwares.eklablog.com/reasons-why-localbitcoins-is-a-successful-business-model-to-be-conside-a186363078

Centralised vs Decentralised cryptocurrency exchange

One of the widely discussed topics among the cryptocurrency traders is nothing but the differences between the Centralised cryptocurrency vs decentralised cryptocurrency exchanges. This discussion provides many kinds of perceptions each time when it arises. Introduction and innovation of various features and options in both the type of exchanges made the debate grow stronger.

As we all know that the centralised exchange is handled by an individual and they can handle and control the entire exchange. The decentralised exchange, on the other hand, is a completely automated platform. It does not possess any individual handling the operations behind it and everything is automated.

Though the decentralised exchange is automated thoroughly, the centralised exchange stands reliable and more dependable than the former. Some of the features that provide an advantage for the centralised exchange than the decentralised exchange are as follows:

KYC/AML:
Knowing the customer or the trader who uses the platform provides a huge relief for the entrepreneur or the shareholder. By knowing and by allowing the known person to use the platform and to trade only after analysing the background averts huge distress and reduces the vulnerability.

Off-Chain Internal Transfer:
An innovative feature introduced in centralised cryptocurrency exchange software is an off-chain transfer mechanism. The user can transfer the funds available in his wallet to the other user of the same platform just by using the email ID or the customer ID instantly. This will not be registered in the blockchain and there will not be any transaction fee for this.

Dispute System:
If anything goes wrong the trader or the user can rely on the admin and an effective dispute system will help the user to get rid of all the types of issues. This improves the brand value of the exchange and it increases the user database thus directly rises the revenue of the system.

Being a front runner type of exchange and being a successful business model, it induces and creates many entrepreneurial opportunities. With the help of the Whitelabel cryptocurrency exchange script of popular centralised exchange solutions like Poloniex and Bitstamp, one can launch their own cryptocurrency exchange platform.

Hashogen technologies is one of the leading blockchain development company and cryptocurrency exchange development company that offers ready to launch Bitcoin Exchange Software that can be introduced in the market within 3 to 5 working days. At an affordable cost, Hashogen Technologies offers the support and upgrades that are unmatched by its competitors and provides assistance for the entrepreneurs willing to start their own exchange platform.

Source: https://cryptoexchangesoftwares.wordpress.com/2020/05/01/centralised-vs-decentralised-cryptocurrency-exchange/