Glad to meet you all again, with new topic.
We often see, bitcoin, cryptocurrency, blockchain and its related business models in our articles. Most often we sort out the possibilities on how to start a crypto exchange, how to make your crypto exchange popular, or how to run a crypto exchange in successful way and so on. This short article is also gonna cover up the same kind of concept but with a different approach.
Wanna see? what it is ?? let’s go
Yes, we are going to see the features that are essential to make an cryptocurrency exchange successful
Before starting a cryptocurrency exchange, it is very important to analyze the popular exchanges, and what made them popular. In such a way that, we are exclusively going to point out the features that have made the many exchange popular and made them to gain a huge customer base in a short period of time. Let’s see what are they,
7 Key Features That Would Make any Crypto Exchange Competitive and Stand Alone
- Multi-Currency and Multi Cryptocurrency Support
When it comes to crypto trading, people are not going to trade only with bitcoin or ethereum, they may seek for an option to trade any low cap cryptocurrency that they desire. It may be a ripple, monero, or whatever. So an exchange should consider all set of customer base, and must be available for everyone to trade with any kind of cryptocurrency. Also if an exchange is global, then restricting the currency pairs only with USD or EUR will not be consider as justice. So, an exchange which supports more than 50+ Fiat currencies will attain a huge popularity.
- Decentralized Trading
This is the most enhanced way of trading the cryptocurrency in the past two years. People seeks for no interruption while trading, and they expect full control over their funds while trading. Hence decentralized trading becomes the top most choice for pro traders. In this way no other third party can have access to control the trade while trading happens between any two parties. If an exchange supports, this kind of decentralized trading, then sure it will grab the most potential cryptocurrency traders from all over the world. So, the cryptocurrency exchange startups which are seeking a way to become popular and stand alone, they must ensure whether their exchange supports decentralized trading, and must ensure whether it can co-functioned with hardware wallets, browser wallets, or desktop wallets.
- Futures Trading
Trading a real life commodity, cryptocurrency, or any asset at an fixed price on a predefined time or date in the future. In This way traders would get profit or loss based on the current market value. The entire trading process will be done based on the Future Contracts that represents the value of the trade-able assets. To know more about future trading please refer this article. Refer : Perpetual Futures Contracts
- Margin Trading
Trading the cryptocurrencies at an leverage ratio. The term “leverage” alone explains the concept. That is leveraging( Lifting up) a trader’s position to an eligibility level of trading more bitcoins with the funds he/she have. Here a margin amount will be deposited to the traders are margin account, and the trader has to provide collateral for the provided margin amount at a certain level of ratio (This ration differs based on the exchange ). When the traders meet the eligibility level, he/she can trade with the provided margin amount, and the profit or loss will impact the traders funding account. After closing the trade, the trader has to return the provided margin amount with interest.This trading concept was viral during the mid of 2017, and it is still popular among traders as well as exchanges.
- Instant Buy/Sell Features
Not all the customers of an exchange are traders, some may come to crypto exchange one time trader, that is may look for an immediate option to buy/ sell a bitcoin. So, an exchange should not lead that kind of customers in to an usual way that all pro trader gone through. Instead those kind of customer must be provided with easy to access, and instant order placing features like advertisements. Ex: Localbitcoins.
There are plenty of bitcoin lenders and money lenders are available online. If an exchange provide them an option to contribute themselves to the professional, then sure it could get a huge tie up from large scale bitcoin or cyrptocurrency hubs.
- IEO/Launchpad/Token Listing
This an exclusive feature for fresh startups, who have stepped in to the cryptocurrency industry with warm feet. In this way an exchange could provide option for future projects by listing their crypto tokens and let the other people about the project. This is an alternative method for ICO Token Listing Services.
So, If an bitcoin exchange want to shine in this current competitive marketplace, then it is very essential to add this kind of features.
How It is Possible To Make Such Kind Of Dominating Cryptocurrency Exchange?
It is highly possible.
At bitdeal you can purchase ready made bitcoin exchange script, which is prepacked with more than 25+ premium features including the above 7. Also you can grab a detailed technical consulting from the experts of bitdeal.
Never worry about the impossibilities, just draw a line to connect the possibilities.