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If you want to begin a secured P2P cryptocurrency exchange platform then you have landed in the correct place. In this digital world, everything is digitized with advanced technologies. One such cutting-edge technology is blockchain. Bitcoin is the first cryptocurrency also which is the top most popular cryptocurrency in all crypto trading platforms. Likewise, the P2P crypto exchange platform is built under the usage of advanced blockchain technology.
Most of the crypto enthusiasts and young startups are interested in starting a crypto exchange business. So they used a high-end secured P2P crypto exchange script to launch their own secured crypto trading website. You might think, what could be the profit for the exchange owners?. Yes, the exchange founders will yield a huge profit in many possible ways.
Now your mind will be popped with so many questions. In this blog, you will get all the answers to your questions.
The first question in your mind will be
What is a P2P Cryptocurrency Exchange?
P2P cryptocurrency exchange is a decentralized exchange platform. Decentralized Exchange is a contrary platform of a centralized exchange. DEX is a P2P exchange where trading and transaction is done user to user with the help of smart contracts instead of mediators. The transactions are very transparent when compared to the centralized exchange. There is no need for an asset-backed to an escrow,
Most of the investors and business people prefer a decentralized exchange rather than traditional exchanges. Because of the tightened security systems and advanced functionalities. Also, most of the people used white label crypto exchange software to develop their exchange platform. Because it is very easy to launch rather than developing from scratch. Also, it is cheap, fast, and secure with all the desirable trading features.
Steps to Start a Unique and Secured P2P Cryptocurrency Exchange Business:
Market Research
When you have plans to establish a crypto exchange, you also need to do the market research. You need to understand the crypto market and types of exchange in the market. You need to understand the price movement of Bitcoin and other reputed altcoins in the market.
Legal Feasibility
You need to plan which would be the right place for launching the crypto exchange. Countries like the United States of America, Canada, Japan, India, Australia, and European Union countries are having legal rights to use cryptocurrencies. You need to cross-check with the jurisdiction of the country in which you are about to launch your crypto exchange.
Analyze Your Requirements
As a cryptocurrency exchange owner, you need to know the requirements of your exchange. Never fail to document your requirements as a Business Requirement Specification document.
Design Architecture
Once all the essential analysis and research got over. Your exchange will get into the design and architecture phase. This phase serves as a blueprint for your exchange. Here, the user interface and the architecture of your exchange will be made.
Identify the Top-notch crypto exchange solution provider.
You need to select the finest crypto exchange solution provider for your exchange business. Because They will develop a bug-free white label cryptocurrency exchange software . Also, they will assist you with the 24*7 customer support in an effective way.
Deployment
In the deployment phase, you will get your fully furnished, ready to go live exchange. Once your exchange gets deployed and you need to market your exchange through promotions.
Maintenance
The work does not stop with the deployment. Maintenance has to be done periodically for your exchange. Because this is a digital era there will be some hackers who will look for some loophole to inject threats.
Make sure your P2P Cryptocurrency exchange scrript is maintained with top-notch advanced security features. Such as:
Two-factor authentication
HTTPs authentication
Data encryption
Biometric authentication
Jail login
End to end encrypted transactions
SQL injection prevention
Anti-Denial of Service
Anti-Distributed Denial of Service.
You can also enable the specialized trading features which might help you to attract the new crypto users worldwide. Such as:
Trading bot
Cryptocurrency wallet integration
IEO module/launchpad integration
Liquidity API
Multi-currency pairing
Margin trading
Rest API
Order book
KYC/AML
Payment gateway integration
Atomic swap
Referral programs.
Final thoughts:
As I already mentioned in this blog, starting a cryptocurrency exchange business is the finest online business. If you are a person looking to start a secured P2P crypto exchange business. Then use the unique and secured P2P cryptocurrency exchange software. So that you can launch your own trading platform within a few days at a reasonable cost. Also, you can add-on outstanding features and customize according to your business requirements.