A crypto exchange is an online website that provides a platform for the buying, selling or exchange of cryptocurrencies like bitcoin, ether and litecoin for fiat money like USD, EUR and GBP.
Types of Cryptocurrency Exchanges
There are basically three different types of cryptocurrency exchange platforms. The difference is due to what determines the price of the cryptocoin on the exchange platform.
These websites are marketplace where potential buyers and sellers of cryptocurrency can place “buy” or “sell” orders. The buyers and sellers do not interact with each other. Each person only interacts with the platform. The service charges fees upon the conclusion of every transaction.
Peer-to-Peer (P2P) Exchange Platforms
Instead of interacting solely with the platform, these services connect buyers and sellers directly. There are no fixed market prices as everything depends on the two parties coming to an agreement. The role of the cryptocurrency exchange is to provide escrow and transaction mediation services.
These function like forex broker services. Potential buyers can visit these platforms and purchase cryptocurrencies. Broker sets the price of the cryptocoins.
Security & Regulation
Usability & Configurable
- Highly scalable platform
- API layer for integration with 3rd party
- Modular Architecture
- Customizable platform for specific features
- New Features are added regularly
- Execllent User Experience with our Intuitive
Dashboards, Graphical Reports like trade chart and market depth chart etc.
- User friendly signup and trading process
- Custom Themes by Prolitus UX/UI professionals
- Extensive Vulnerability assessment
- Dedicated inhouse team of Security specialists
- Decentralized ledger for added security
- Two Factor Authentication and Alerts
Cryptocurrency Exchange Software Development Company
We have a perfect team, our team includes highly professional and is expert and known as Cryptocurrency exchange software developer. We have modern and relevant technologies as well as experts developers play a big role in the process and they are really imperative especially their skills make the project unique and fully secure.
Buying and selling bitcoin and cryptocurrency in a decentralized manner becomes more important and popular. Peer-to-peer exchange platforms have a big role to play in this regard. In order to remove brokers and third-parties, it leaves all the work on the nodes participating in the trade. Traditionally, once you generate the sell or purchase order, you forget about them and the automatic trading engine automatically matches your order with the optimized buyer.
Cryptocurrency trading software for the P2P exchange must include the following components:
Graphical user interface.
Secure private system for administrators, moderators, and owners
This is the list of the main components, without them new exchange simply does not survive. Without admin system, there will be no control and clarity, insufficient liquidity can simply not give a starting point for growth, and a vulnerable system can completely run everything.
How P2P exchange works?
In order to remove brokers and third-parties, it leaves all the work on the nodes participating in the trade. Traditionally, once you generate the sell or purchase order, you forget about them and the automatic trading engine automatically matches your order with the optimized buyer.
But peer-to-peer model leaves a lot of manual work on the users. Instead of matching the orders, this exchange system matches the people. Sell/purchase order in the network won’t be picked up by the system. A buyer would have to click on the link and notify the seller that he is interested in buying the sale order and in return the seller will have to keep on checking if any buyers have shown interest in purchasing the released sale order.
Although the software is alone of matching the buyers and sellers without the need of third-party, it loses its vitality when it dissipates the important resource like time. The clearance of bitcoin might take 5 minutes to hours. Since there is no intermediary trustee, the rate of the transaction becomes too slow.
Buyers and sellers can exchange cash in person, transfer bank funds online or can exchange funds for prepaid cards, gift cards or other cryptocurrencies.