If you are planning to build an exchange, do you know what features you should demand from an exchange company to include in white-label exchange software?
Blockchain-based cryptocurrencies have become one of the most valuable digital assets, having already been widely adopted all over the world. Why not grab an opportunity to make money from it?
Is it really possible? Yes of course. The simple answer is by having a centralized cryptocurrency exchange.
If you have any plans to develop white-label exchange software to build centralized cryptocurrency exchanges, do you know what features you should demand from the exchange development company?
Maybe the answer is yes or no, but I have collected all the required information if you are really interested in building any cryptocurrency exchange.
There are many cryptocurrency exchanges but 70-80% trading is going on in a few exchanges such as Binance, Bittrex, Coinbase, etc. But why?
The reason is simple, their exchange meets with the trader’s requirements and if you are able to match the same or maybe something more than that, then you can also get more exposure to your exchange.
Here are a few highlights which you should definitely consider while planning to build an exchange.
What Is White Label Exchange Software and How to Build It?
The first step is to find a company that can help you to build an exchange, and there are many companies outside which can give you a bundle of software.
This software is easy to customize and re-brandable without much technical hassle. You can have your exchange live within a couple of hours.
This bundle of customizable software is known as white label exchange software and the company which provides software is known as an exchange development company.
Now let’s focus on what features you should demand. Here are some highlights, but if you are keen to learn in detail then I recommend that you review our exclusive detailed guide.
Features of Centralized Cryptocurrency Exchange
Every exchange has some key features which are common to all and recommended to include in your exchange software:
- Trading Engine
- User Interface
- Admin control
Above are four elements that feature in almost every exchange by default. If you do not implement these, your exchange will not be perfect enough to control daily trading.
But there are a few additional features which you should include in your exchange:
It allows the trader to trade in real-time, which means a trader can buy/sell immediately.
Price Movement and History chart
Every cryptocurrency traded in the exchange should have a price movement history chart, starting from 15 min to 1-month. It helps the trader to predict the future price with technical analysis.
Wallets and Payment Gateway
The exchange has a collection of multiple cryptocurrencies, so make sure every currency on the exchange has a different wallet address to deposit and withdraw or deposit funds.
Make sure every currency listed on the exchange has a trading market available to trade against the most famous cryptocurrencies like Bitcoin, Ethereum.
This is not the end of the list of the features and cannot lead you to success, as it is just the highlights.
If you are keen to learn more about white-label exchange software’s best features, I recommend getting a detailed idea from the earlier suggested guide.