Our cryptocurrency exchange platform development team believes that cryptocurrencies hold the future of the payment industry in the year 2020. It is also apparent that more and more traders are approaching cryptocurrency exchange platforms to trade their cryptocurrencies. Thereby, proprietors can expect significant revenue and benefits with cryptocurrency exchange platform development in the year 2020.
Crypto investors looking to develop a crypto exchange platform can get in touch with Oodles Blockchain, a blockchain and cryptocurrency exchange development company. They can also refer to this guide that details the essentials of cryptocurrency exchange platform development in 2020.
A Right Type of Cryptocurrency Exchange Platform
Centralized Exchanges Essentially, a centralized exchange is a traditional form of cryptocurrency exchange. It involves a middleman or an intermediary to execute transactions. It is one of the reasons traders trust these exchanges to perform trading. Traders pay around 0.1-1-5 % charge for trading. Although they provide enhanced liquidity, security aspects can be a concern. Still, centralized exchanges are the most popular crypto exchanges among all and hence, a plethora of users prefer using them.
Decentralized Exchanges Decentralized Exchanges don’t require intermediaries to facilitate transactions. Thereby, they don’t store funds or other information on the server. They aren’t prevalent enough in the crypto space yet and hence, lack liquidity. However, they do ensure the use of robust security mechanisms to secure funds and crypto-assets.
Hybrid Exchanges Hybrids refer to a blend of multiple crucial aspects of centralized and decentralized cryptocurrency exchange trading platforms. The primary reason to develop a hybrid exchange is to ensure liquidity as well as the security of the platform. In the year, experts suggest that Hybrid exchanges will see an increase in adoption globally.
Meticulous Market Research
It is necessary to do extensive industry research before starting a crypto exchange platform. It is important to have answers to a few critical questions to ensure the success of the platform. What will be different cryptocurrencies’ price? Which countries are most preferred to run a crypto exchange in 2020? What features crypto traders expect to have in a crypto exchange for 2020? There are other vital critical factors too that you need to consider. For that, you may talk to our cryptocurrency development experts.
A Right Place to Start a Crypto Exchange Platform
After defining the business idea and its requirements, you need to choose a suitable place to set up and launch your cryptocurrency exchange. Given the potential of cryptocurrencies to reform global payment systems, most countries are legalizing the use of cryptos in the year 2020. Take a look at the following countries where you can run your crypto exchange with easy compliance requirements.
- The United States
- The United Kingdom
Features of a Cryptocurrency Exchange Platform
After finalizing the location, you need to determine the crypto exchange already operating there. Reviewing the features, reviews, and the trading process of those platforms can ensure you stand out from the crowd. We have outlined a few features that traders may expect in 2020.
- Hassle-free withdrawal and deposits
- Advanced dashboard
- Intuitive website
- Top-grade security
- Sufficient liquidity
- Social trading
- Multiple charts in a single window
- 24*7 customer support
Hire a Cryptocurrency Exchange Development Company
To save yourself from all the hassle mentioned above in 2020, you can get in touch with a genuine cryptocurrency exchange platform development company. Having a product on production requires a team of well-versed crypto developers who already have a demonstrable record. Here are a few aspects you can consider before hiring a cryptocurrency exchange development company.
The development company must comprise of c-level Managers, crypto exchange designers and Developers, cryptocurrency marketing specialists, and financial advisors.
Crypto exchange companies like Oodles also provide options to develop a crypto exchange with different methods. They include providing a turnkey cryptocurrency exchange software as well as development from scratch to meet specific requirements.