Types of Centralised Cryptocurrency Exchanges

Cryptocurrency Exchange applications in the market are evolving daily by adopting newer and innovative ways to ease out the exchange process. The number of exchange platforms is increasing day by day and only a few of them are staying in the market for long. Based on the exchange process and the way it functions, the cryptocurrency exchanges can be divided into 3 major types as follows,

• Order Book based exchange
• P2P exchange
• OTC trading platform

Order book based exchange:
Order book based trading and exchange are very famous and a traditional type of exchange. Using this the trader can trade with the help and assistance of the orders entered by the traders within the order book. The counter-order placed for the order available in the order book will complete the trade and if a matching order is not available in the order book then the placed order will get updated in the order book.

With different types of order-making methods such as Limit orders, Market order, Stop limit order, etc., the order book based exchange stands as the preferred type of exchange among the users and the traders.

P2P Exchange:
P2P exchange is otherwise known as Peer to Peer exchange is a simple exchange mechanism that will be conducted within the platform with the help of Escrow function. The buyer will find a seller and vice versa and the exchange will be initiated. Once after initiating the trade the respective cryptocurrency will be escrowed by the central mechanism and will wait for the buyer to transfer funds to the seller directly. By receiving the confirmation from the seller after receiving the money the escrowed crypto will be released to the buyer’s crypto wallet.
Localbitcoins and paxful are the best examples for P2P crypto exchange.

OTC Exchange:
OTC exchange follows a very simple way to exchange the cryptocurrencies. OTC desk is simply a broker desk where the user can be able to buy or sell the cryptocurrencies directly with the broker for a fixed or marginal price. This is also termed as an instant buy/sell process.

All 3 types of exchanges listed above have been adopted for many entrepreneurial ventures and tasting success in many parts of the world. Whitelabel cryptocurrency exchange software similar to Poloniex, LocalBitcoins and shapeshift will be helpful to set up a platform instantly. The advantage of using the bitcoin exchange website script is that it will consume less time and can hit the market within a lesser amount of time.

Hashogen Technologies offers Cryptocurrency Trading Script developed by an experienced team of developers that checks all the boxes of essential functionalities and the security features.

Source: http://cryptoexchangesoftwares.mystrikingly.com/blog/types-of-centralised-cryptocurrency-exchanges

Ways to start an exchange like Poloniex

Poloniex is one of the leading cryptocurrency exchange applications around the globe and it sets an example of how a cryptocurrency exchange software should be. It is friendlier in terms of UI and also in the way it works. It induces the idea among many entrepreneurs to launch a similar application as it is one of the successful business models.

Building a similar type of exchange from ground up is a complex task and it requires more time than one can imagine. The reason is that there are many things to be finalised before developing the software from scratch such as the stack, technical architecture, wallet configuration and many things. Instead of developing it from scratch, one can use the Whitelabel cryptocurrency exchange software similar to Poloniex.

The cryptocurrency trading script similar to Poloniex holds all the needed functions and the features available in Poloniex. The tried and tested trading engine associated with the bitcoin exchange website script similar to Poloniex will make it more functional and can handle the trade efficiently. Other than that the security features involved assure the security of the crypto assets handled using the platform. The cryptocurrency trading script should check all the boxes that are mentioned above to be an edible choice for the entrepreneur and can be identified as the best Whitelabel cryptocurrency exchange software.

The cryptocurrency trading script offered by the Hashogen technologies checks all the essential features mentioned above to launch an efficient exchange software similar to Poloniex. Not only the web version of exchange but also the mobile application in both the android and iOS versions are offered to make the exchange platform more appealing and to make it more user friendly.

Source: http://cryptoexchangesoftwares.over-blog.com/2020/04/ways-to-start-an-exchange-like-poloniex.html

Reasons why starting an exchange like localbitcoins are hassle-free and profitable

Localbitcoins is indeed a successful Peer to Peer cryptocurrency exchange application in the market and proves that adopting a similar kind of business model will not be a complicated decision to consider for the entrepreneur. Localbitcoins relies on two major functions that improve and holding the faith of the traders over the application is Escrow function and Dispute function. Both the Escrow and Dispute functions serve its purpose of being a middleman to transfer the crypto and to solve the issue arose during the transaction and after the transaction.

How to start an exchange like localbitcoins?

Localbitcoins is a popular business model and there are many Whitelabel cryptocurrency exchange software similar to localbitcoins and paxful. Finding a bitcoin exchange website script is an easier task but finding suitable and well-equipped software that checks all the needed functions, security protocols and built with an architecture that can be scaled and upgraded easily is indeed a difficult task.

Localbitcoins clone script should be developed with a technology stack that can be understood easily by the person or the entrepreneur acquiring it. Developing with more complicated and unusual technology will lead to many issues and difficulties in future. So a bitcoin exchange script developed with a well-known technology should be preferred first.

Considering the functionality, the Whitelabel cryptocurrency exchange software should offer much-needed functions and the payment options that should be feasible and friendlier for the traders.

To make the system more convenient for the traders, the bitcoin exchange script similar to localbitcoins should possess a geographical fencing and tagging feature that should filter the available traders within the nearby location of the traders. The system should do this automatically based on the trader’s location and it is mandatory to check this with the exchange software and make sure it is working well.

The internal Communication system should be available within the system and the time window should be customizable for the convenience of the traders. The system should cover all these things by default. Other than these basic security features should be covered to handle the transactional operations of the wallet.

Handling the entire application:

It is more important to have a standard admin section that should provide complete control to take over the entire application or the system. The admin should be able to look over the entire operations takes place within the system with respect to the privacy of the data of the users. The admin should be capable of controlling the incoming and outgoing operations.

A well structured localbitcoin clone script is offered by Hashogen technologies and the concern is a pioneer among the cryptocurrency exchange development companies.

Source: https://cryptoexchangesoftwares.blogrip.com/2020/04/16/reasons-why-starting-an-exchange-like-localbitcoins-are-hassle-free-and-profitable/

Essential features that make a cryptocurrency exchange software best in the market

Cryptocurrency being a turning point in the Fintech industry and Bitcoin becoming a major shareholder in the market creates a lot of opportunities for entrepreneurs. Not only by investing in cryptocurrencies but starting a cryptocurrency exchange platform paves the way to earn more.

Launching a cryptocurrency exchange platform can be done with the help cryptocurrency exchange software development company. A company that offers Ready to launch Bitcoin Exchange Script are abundant in the market and it is very important to find the right one. A Bitcoin Exchange Script should ensure a lot of essentials features and security measures to make the platform more stable in the market.

Things to consider before making the decision:

The Bitcoin Exchange Script should offer different modes of trade and make the order. Order making methods such as Limit and Market are more common and it should be available in the Cryptocurrency Exchange Software to make it more preferable by the users. There are other trading options such as Stop loss, over the counter and Stop loss limit order. The trading engine should be capable enough to adapt to any kind of order-making conditions.

The speed of the Trading Engine should be considered before making the purchase. A low performing trading engine can be able to execute below 10,000 trades per second whereas a good performing trading engine can be able to perform 50,000 to 100,000 trades per second.

The Bitcoin Trading Software should be scalable and the cryptocurrency exchange software development company should ensure and should be able to scale the script with the trending features such as Margin Trading, Referral system, Automatic Coin/Token Listing module and much more. It Is mandatory to check whether the script is scalable and the ability of the software to adapt these features.

The Cryptocurrency exchange software should be legitimate and it should possess the needed functions such as KYC/AML thereby the user’s identity can be verified by the admin. This is one of the much-needed functions that should be available in all the websites or software that deals with real funds.

Wallet system should be secure and faster in handling the transactions of crypto. Multi-Sig wallet usually ensures the security and feasibility in transacting the crypto.

How secure the exchange application should be?

Security features and measures are taken to strengthen the entire software should be identified before making the decision. There are some basic features that make the bitcoin trading script a secure one such as 2-factor authentication. This is a very common feature using which the users will get notified about all the operations of their account in the platform through the email or through SMS.

The entire software should be associated with the security protocols such as DDOS protection, IP based Login restriction, Encryption of Data within the table, Cross-site scripting, Jailed login and many more.

Where to find the right solution?

Listed above are the essential characteristics for ideal and well-performing cryptocurrency exchange software. Hashogen Technologies is a Cryptocurrency Exchange Development Company that offers business-ready exchange solution for the entrepreneurs and with the effective R&D team Hashogen Technologies is working towards many innovative solutions in the field of Blockchain.

Source: https://sites.google.com/site/cryptoexchangesoftwares/