A Startup Guide To Start Your Own Bitcoin Exchange - 2021
How to start a bitcoin exchange Website?
- Cryptocurrency – it as a digital currency or virtual currency, works under the concept of decentralization. (i.e) it would not have a physical appearance but can be traded or exchanged via any trading platform without the control of central banks or any other government authorities. Bitcoin is the most popular cryptocurrency (Check out the price of single unit bitcoin here). Industrial name of bitcoin is BTC.
- Cryptocurrency Exchange Platform – It is a website that executes cryptocurrency trading between any user or peer.
- Trader – Who buy or sell crypto currencies for Fiat currencies or for any other cyrptos.
Bitcoin Trading: How it works?
The main players of a cryptocurrency exchange website
- Buyer
- Seller
- The Admin
- Connecting a network of bitcoin buyers and sellers
- Monitoring the Fund transactions
- Charging transaction fees for each successful transaction
- Keeping the website always secured by implementing new security rules and norms
How to create a bitcoin exchange website?
- Analyze the scope of your bitcoin exchange website
- Choose the right market place( Country ) To launch your bitcoin exchange website
- Deal with a right Bitcoin exchange script/ Software Service provider
- Ensure the licensing and bitcoin exchange regulations of the country you decide to launch
- Establish the liquidity options
- Integrate high security features
- Integrate high security features
- List out your requirements
- List out the trading features
- Number of cryptocurrency pairs that you will enable in your bitcoin exchange
- Many countries allow bitcoin exchange business and trading with bitcoin, but there are some exceptions, especially India and china have recently banned bitcoin transactions.
Bitcoin Exchange Script: A Structured code that create your bitcoin exchange website
Basic components that of a bitcoin exchange script
- Bitcoin wallet
- Trade matching engine
- Admin panel
- KYC Database
- Attractive user interface
- Exchange plug-ins/Add-ons..etc
Ready Made bitcoin Exchange Script Features: Security
- Two Factor authentication
- KYC – To Identify customers in order to prevent fraudulence
- AES Encryption Prevention
- Anti CSRF Token
- XSS Clean
- Software / System details disclosure
- Enabled With Debug Mode
- Google ReCaptcha
- Mail ID encryption
- Session expiry with user re-login
- Devise based tracking (IP Address, MAC Address/ Mobile device ID, User)
- Device based or IP based Admin panel login
Ready Made bitcoin Exchange Script: Functionality Features
- Feasible Trading Pairs ( To Trade Any type of cryptocurrency)
- Feasible Deposit and Withdrawal options
- Bitcoin Wallet ( Preferably Bitco JS)
- Optimize buy/sell system
- Advanced Control panel
- Efficient Matching Algorithm.. etc..
II) Bitcoin Exchange: Optimization Phase
- Decentralized Trading With Atomic Swapping
- Margin Trading & Lending
- Bitcoin SIP
- Ethereum Trading
- P2P Trading
- Admin Based Trading
- Digital Token / Token Trading
- New Coin listing Features.. etc