Cryptocurrency Exchange Development Company

In this article, we'll tell you what does that means to Cryptocurrency Exchange Development Company, and how does it work.

First, What Is a Crypto Exchange?

A crypto exchange is a trading platform that allows you to buy, sell, exchange various cryptocurrencies. Similar to forex, a crypto exchange brings buyers and sellers of a currency (in this case, cryptographic) together, ensuring the reliability of transactions. Like any exchange in general, it works on a trading engine, the correctness, and speed of operations depend on the optimization of the code which depends on the correctness and speed of operations. The engine checks placed orders for backing with assets, i.e. funds on the balance sheet, keeps records of orders in the database, prepares data for display in a web/mobile application or trading terminal.

Types of Cryptocurrency Exchanges

The first crypto exchanges were centralized and only cryptocurrencies were trading pairs. But with the development of the market, a conditional classification by type began to appear:

· Bitcoin exchanges or altcoin exchanges – only cryptocurrencies are traded on them, among themselves or in pair with bitcoin, without the participation of fiat currencies;

· Cryptocurrency exchanges with an exchange for fiat – on them, cryptocurrencies are traded both among themselves and in tandem with a freely convertible currency (US dollar, euro) or even national currency;

· Centralized exchanges (CEXs) – they are owned by companies that set the rules for trading and usually operate under a license, which means they are subject to financial regulators;

· Decentralized exchanges (DEX) – they only create P2P markets but do not mediate, do not store user funds, are not regulated by anyone, here users anonymously make transactions through a distributed ledger;

· Hybrid crypto exchanges (HEX) – combine the best of CEX (functionality and liquidity) and DEX (security and privacy);

· Cryptocurrency exchanges with the possibility of margin trading – provide trading leverage to their users.

How to Create a Cryptocurrency Exchange?

Two approaches are practiced: to create a crypto exchange from scratch, or to buy a ready-made software solution:

Development from Scratch

A complex but competent approach that allows you to get to know the crypto market better by going through all the stages of creating a future service – from concept development and technical specifications to the final release. In the basic version, a crypto exchange consists of the trading engine, admin panel, database, user interface, account management, wallets, analytics.

Pros:

· Confidence in safety;

· Receipt of an individual product;

· The ability to refine and improve the exchange.

cons:

· Starting up takes more time than installing a ready-made solution;

· The total cost of a turnkey cryptocurrency exchange is more expensive.

We were given the task of creating not just a crypto exchange, but an all-in-one universal product. The main goal was to launch a convenient platform not only for professional traders and investors but also for ordinary users who could buy cryptocurrency like any digital product on the Internet. Therefore, we have added several useful services to the basic version in order to expand the reach of the audience. Now, the platform consists of the following components:

· Cryptocurrency exchange.

· Crypto exchanger (based on the exchange).

· Online wallet for cryptocurrencies.

· Portfolio for crypto assets.

· Referral program.

· Blog with news about cryptocurrencies.

White Label Solution

Adaptation of an already developed product for your brand. A crypto exchange on a ready-made engine can become a temporary alternative or an additional service that you decide to offer to your audience. As a rule, the main activity of a white label buyer of a product is not related to cryptocurrencies but is very close to the topic. And the need for a cryptocurrency platform is dictated by the trend and demand.

Pros:

· Quick setup and launch;

· Small initial cost.

Cons:

· There is no access to the source code, you cannot be sure that it is safe;

· The complexity of refinement for specific requirements will cost more than the engine;

· Dependency on a third party.

What is a Cryptocurrency Exchange Development Company?

Radindev is a Cryptocurrency Exchange Development Company , guarantee the high quality of our services, because we use the latest technologies and tools.

The development of reliable and scalable software solutions for any OS, browser, and device. We bring together deep industry expertise and the latest IT advancements to deliver custom solutions and products that perfectly fit the needs and behavior of their users.

We architect and engineer scalable and high-performing software solutions to meet the business challenges of our clients.

We help create your brand identity and make sure your visitors get the best user experience of the brand. Our experts collaborate throughout the development process to ensure whether you are receiving expected design and functionality from the process. The time you let us handle the entire technical part covering web and mobile app development, we ensure perfection on every step we execute. Radindev offers bespoke website cloning services in order to let our customers experience the rapid growth of the online platforms.

How Much Does a Cryptocurrency Exchange Cost?

Developers are not accustomed to specifying the exact cost of work, the scope of which is unknown. Without preliminary negotiations with the customer, it is difficult to make calculations, because customers have different requirements. Nevertheless, everyone wants to know in advance how much it costs to create a cryptocurrency exchange. To do this, companies conduct market research and provide a range of prices so that customers can navigate when planning a budget. We did that too and found out that prices have come down a bit this year (they just adjusted after the 2017 hype). In 2022, the development market is dominated by, depending on the macro-regions.