Amidst the economic downturn, there is one financial asset that is providing very high returns to investors. It is none other than Cryptocurrencies. Globally, the market capitalization of digital currencies is $1.90 trillion as per CoinMarketCap. Crypto enthusiasts buy and sell $130.99 billion of assets every day. What is the right path for entrepreneurs to dominate this prospering industry? They need to obtain a customized cryptocurrency exchange software made by a proficient app development company.
- There are 11225 cryptocurrencies in the world. The share of Bitcoin (BTC) and Ethereum (ETH) in circulating supply is 45% and 19.4% respectively.
- Similar to stock trading platforms, there are 393 crypto exchanges in the world. They operate on different blockchain networks and ensure hassle-free buying and selling of digital assets.
- Currently, Binance, Huobi, and Coinbase are the top 3 cryptocurrency exchanges in the globe. They have a huge daily trading volume of $31.71 billion, $7.15 billion, and $4.31 billion respectively.
It is a ready-made digital trading platform that connects buyers directly with interested sellers. A cryptocurrency exchange software contains advanced features and functionalities similar to the top-notch platforms in the world.
For instance, techpreneurs can purchase white-label clone solutions of Binance Decentralized Exchange (DEX), Bitstamp, Coinbase, IDEX, KuCoin, LocalBitcoins, Poloniex, Remitano, and WazirX.
They will get advantages like greater average liquidity, higher trading volume, and quick addition of different cryptos and fiat currencies.
The biggest benefit is that entrepreneurs can deploy the white label cryptocurrency exchange software quickly in their day-to-day operations. They need not incur a huge investment in human resources and technology to launch their trading platform in the market.
Flexible placing of orders – Both crypto buyers and sellers can choose different types of orders. They can choose Limit, Market, Stop-Limit, and Trigger orders as per their requirements. Likewise, traders must enter details like the price and the quantity of digital currencies they wish to buy or sell.
Instant conversion of assets – Users can manage the unpredictable market changes by using the spot conversion option. For instance, they can convert their Bitcoin holdings to other cryptos like Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). The value of each trading pair depends on the current exchange rates.
Integrated digital wallet – A Bitcoin exchange script offers traders access to a secure software wallet. Accordingly, investors have 100% control over their assets. They can safeguard their precious funds by using passwords or private keys.
The digital wallet is packed with features like multilingual access, real-time monitoring of portfolio, seamless integration with DApps and DeFi platforms, security measures such as end-to-end encryption and two-factor authentication.
Margin Trading option – Investors can pocket hefty profits by indulging in margin trading. They can take short or long positions on their digital assets. Traders can select the leverage like 5x, 10x, 20x, and even 100x. For example, the Huobi crypto exchange offers 5x margin trading facilities for investors. Importantly, it protects traders by liquidating their assets if there are huge market fluctuations.
Multi-payment support – A White-label cryptocurrency exchange software offers investors to process transactions via numerous methods. They can use credit cards and debit cards like Mastercard and Visa, net banking, PayPal, and wire transfers. Moreover, investors can utilize fiat currencies and stablecoins too.
Sharing of analytical charts – Crypto enthusiasts can make the best investment decision by viewing detailed charts and graphs. They will get real-time information about changes in prices, exchange rates of different trading pairs, top gaining assets, trading volume, and turnover.
Social media login mechanism – Investors will never miss out on a lucrative crypto deal. They can sign in to the cryptocurrency exchange software by syncing their Facebook, Google, Instagram, and Twitter accounts.
24×7 technical assistance – Entrepreneurs should offer round the clock technical support for crypto investors. Likewise, traders can resolve issues related to margin trading, order placement, payment processing, privacy, and security. They must contract the dedicated Help Centre via email, live chat, and phone.
Investors can boost their financial position by utilizing various trading facilities on a cryptocurrency exchange software. Importantly, they can buy or sell through Brokerage Trading (Over the Counter), Futures Trading, Spot Trading, and Trading Bot. Generally, traders can tap Coin-margined swapping or Stablecoin margined swapping.
They benefit from stable returns by using stablecoins such as Dai(DAI), Tether (USDT) and USD Coin (USDC). For instance in Futures trading, the contracts expire within a certain period weekly, bi-weekly, quarterly, and bi-quarterly).
Accordingly, users can check the name of the financial asset, launch time, delivery time, and par value by clicking the Derivatives Trading option. They can change their asset allocation strategy depending on the market conditions (bearish or bullish).
The cost of developing a Bitcoin exchange script depends on several aspects. It relies on the choice of features and functionalities, cross-platform compatibility, hourly charges paid to the developers, the level of customization, the kind of frameworks and tools used, and the time allocated.
Further, entrepreneurs can use post-deployment services to enhance the functioning of their crypto trading platform. It comprises API integration, digital marketing, fixing bugs and glitches, and technical assistance.
Above all, Bitcoin (BTC) is labelled as the digital version of gold now. Currently, 1 BTC costs more than $45,595. Its value has grown by 19.42% in the last 7 days according to CoinMarketCap. Interestingly, Unocoin, an Indian crypto asset trading platform is allowing users to purchase coffee, ice cream, and pizza through Bitcoin. This will help the popular digital currency to make a storm into the mainstream economy.
Several brands across the world are also allowing customers to pay for products and services using Bitcoin (BTC). Entrepreneurs will have to watch out for changes in government regulations and tax laws while launching a virtual trading platform. Hence, they can take the big step now by purchasing a white label cryptocurrency exchange software.