Without implementing new technologies you can’t achieve more profit in your bitcoin exchange business. You may have a strong hope on your business, but in the user point of view if there is no update, then your business may fall in down to the earth. To avoid those business failures you should analyze current market trends and bitcoin people needs.
Here you are going to know about, in what ways you can develop your bitcoin exchange business?
3 VARIOUS WAYS TO DEVELOP YOUR BITCOIN EXCHANGE BUSINESS!
#1 Establishing Your Business Strength With Liquitidy
We know bitcoin business is having a lot of controversies among hopeless people. So while starting a bitcoin exchange business you have to think them too. Instead of thinking about your business hit and profit, you have to concentrate on how to create trust.
How can you create trust for your bitcoin exchange business?
A bitcoin exchange platform will become trustworthy when it has a lot of bitcoin traders and trading flow. So publishing the number of active bitcoin trades, buy orders, and sell orders on your website may bring up hope among people.
So what will you do if you are a startup and don’t have enough data to show up on your website?->
Get a free consultation from bitdeal.
# 2 integrating Margin trading & Lending features:
As we see in the previous section, a bitcoin exchange wesbite will become trustworthy only if it have a strong trading flow. So to increase the trading flow, many bitcoin exchange websites started to integrate margin trading.
Main cause of margin trading is to increase the trading capactiy of a trader, and pushes the trader to be active always.
Margin trading with lending:
In some other bitcoin trading websites, Instead of admin, bitcoin lender will lend bitcoins to the needy traders. Which comes under the concept of “margin trading with lending.” Here the trader have to submit collaterals to the lender for the purpose of securing the loan.
1. Exchange account — Holds the funds which the traders use to spend for regular bitcoin trading.
2. Margin account — Holds the property or asset as a collateral and margin orders.
3 . Lending account — Holds the funds that the trader can send to others for lending process.
Many bitcoin & cryptocurrency exchange websites are now come to know about the importance of margin trading and started to integrate as a business prime feature.
#3 Trading Bot application:
It is an application which automates the bitcoin trading. It helps the traders to simplify their trading efforts.
How does it operates?
A trader can set up this application as an external source and can set up a price range for placing a buy order and sell order. (Ie.) if a user wants to buy Bitcoin when it comes under the rate of ‘x ‘and want to sell bitcoin when it goes up the rate of y, then he can set up the bot like this,
(i) buy when bitcoin price is less than X
(ii) sell when Bitcoin price is greater than Y.