In this digitally evolving world, Cryptocurrencies and crypto exchanges are making huge rounds in the market among potential investors. The demand and urge for cryptos and crypto exchanges are alive and kicking. There is already a wide range of cryptos and crypto exchanges existing in the market, but the competition for more is never-ending. 

Do you want to set foot in the cryptosphere with your own crypto exchange? Are you wondering where and how to begin? Then, this article is for you! Over here, we are going to cover everything you need to know before launching your crypto exchange and make it a hit among potential investors! But, before going into that, if you are a starter, let’s take a look at what crypto exchanges are. 

Cryptocurrency exchanges- Unraveled!

Cryptocurrency exchanges came into existence around the year 2010. Ever since their advent, crypto exchanges have gained huge traction among potential investors around the world. Every day there are newbies joining the market with their own cryptocurrency exchange development. Why such attention towards them? What are crypto exchanges? 

Cryptocurrency exchanges are platforms that allow traders to exchange their cryptocurrencies for other digital currencies or fiat money. Crypto exchanges are backed by blockchain technology that helps control, verify, and secure transactions that happen on the exchange, with a chain of blocks encrypted with cryptography. With the advancement in technology, crypto exchanges have also evolved, and new techniques have been introduced, which are highly beneficial and help with optimizing the business experience for the customers. Let’s take a look at some of the significant ones. 

What's trending now in the cryptosphere? 

One of the most trending exchanges currently among investors is the cryptocurrency exchange with leverage. This is because the exchange allows investors to deposit a minimal margin amount and borrow a LARGER sum of leverage, which helps them to expand their position in the market and multiply their benefits. 

Blockchain technology is widely evolving, mainly because of its decentralized nature. A perfect example of a completely decentralized software is the p2p crypto exchange software. A P2P exchange allows global traders to exchange their currencies or digital assets directly among themselves without involvement from any third party. This helps them with a more secure, efficient, risk-free, hassle-free business. 

Now, you can build and launch any type of exchange of your choice. But to make it authentic, you need to follow certain mandatory steps. What are they?  Let’s find out. 

What are the essential factors to consider before launching your own exchange? 

• Deciding where you want to operate

The first and foremost step is to decide whether you want to expand your business globally or operate within a confined region/ country. 

• Legal architecture

Based on your geographical preference, make sure your exchange comprises every necessary legal framework. It is better to gain expert advice on legal terms and licensing for your exchange based on your location. 

• Connect with banks/ payment processors

Partnering with a reliable bank or payment processor will help your customers efficiently create an account, and with faster settlements of funds. Including additional funds or fiat money can be one via payment gateway integration. 

• Integrating high-volume liquidity

Liquidity is an essential factor for any exchange. This will help with filling order books and generating activity in your exchange, which will encourage new customers to participate, seeing a full order book. Few ways to integrate liquidity are, 

• Integrating an API interface which will connect your exchange to other active exchanges

• Stimulating your exchange by conducting artificial buying and selling trades. 

• You can combine your exchange with other exchange networks, thereby the liquidity of all the exchanges are connected. The volume of liquidity increases with the volume of the network. 

• Enhanced Security 

For any exchange, multilayered security protocols should be integrated and looked into very carefully to protect assets and user information. You should integrate an automated KYC/AML verification option into your exchange, which will allow only authentic users and, therefore, ensure secure, risk-free transactions. Security should be the key factor to be considered while building your exchange. 

These are the most crucial factors to be considered before developing or launching your exchange. There are also few other things to be looked into such as, 

• What exchange you want to build

• The features and implementations you want for your exchange
• Your exchange transaction and storage capacity
• Deciding on the exchange fee 
• Mobile application support for users, both iOS and Android. 
• Customization preferences. 

Now,  what is the best way to launch your exchange quickly and efficiently? 

Developing your crypto exchange from scratch, and then launching them will require an adequate amount of time and cost you ample amounts of money. With the demand and popularity boosting every day, to get your exchange upto speed, the best choice is to hire an experienced company! 

CES is one such company with experienced developers who will offer a ready-made white label crypto exchange software that comes with a name, branding, logo designs, every essential feature, technical and security integrations along with personalized customization of your choice. Our Whitelabel crypto exchanges are ready within two to three weeks, and you can launch your exchange in no time, at cost-effective prices. 

You can also avail of our cryptocurrency exchange script that comes with 100% reliable source codes, liquidity, security integrations, which will help you with a seamless business, and you can instantly launch your exchange in the market! Reach out to us, launch your exchange efficiently in no time, and become viral among potential global customers!

Developed as a secure, decentralized way to exchange cryptocurrency like Bitcoin, blockchain has grown to be a technology that has the potential to disrupt industries. It often gets a ringing endorsement from most tech experts and gets a lot of people across various industries excited about its potential uses. Method Shop defines blockchain by saying this “In a digital world where anyone can edit a Wikipedia entry, start a fake news site or alter a photo, the blockchain could be a new technology to help us collectively trust what happens online.

The blockchain enables the digital recording of information in a distributed and encrypted list of record entries, called blocks, which are securely linked using cryptography. The decentralized storage of blockchain data is located across a network of user computers called nodes. No one owns or controls the data. There is no government or bank in control of the blockchain…The applications for blockchain technology is almost limitless. Any industry or organization that needs to log compatible and tamper-proof transactions can benefit from the blockchain.”

What are the most promising applications of blockchain technology?

The top applications of blockchain technology

1. Healthcare

Most people see several doctors, especially as they age. From specialists to mental health providers to primary care physicians, a person’s healthcare records can be disorganized due to no fault of their own. Blockchain has the capacity to streamline medical record-keeping while ensuring security and privacy, allow healthcare teams the best access to the same information and allow all parties to work from the same page. Additionally, blockchain could help solve counterfeit drug problems. Even the most respectable hospitals and pharmacies are at risk to distribute counterfeit drugs to their patients. Blockchain ledger technology can help to trace and verify a medications entire journey from the manufacturer to the wholesaler onto the pharmacists and physicians.

2. Logistics and supply chain management

Blockchain records are permanent and unalterable, making them a great fit for supply chains as a method for customers and businesses to be able to track and verify a product’s source of origin. Walmart has adopted IBM’s blockchain technology to track meat sales in China. Blockchain records show where the meat originated, how it was processed and stored when it was sold, and to what distributors. This is incredibly useful in cutting down on illness and death from contaminated food, as well as helping businesses locate anything effected by a recall and handle it more efficiently.

3. Transportation

Relatedly, blockchain has been referred to as “CARFAX on steroids” for the transportation industry. It helps to streamline freight transactions by increasing visibility, security, and data accuracy. Blockchain has the potential to work as an enhanced form of tracking for businesses who enable or work with transportation.

4. Voting and government

A digital form of voting would revolutionize people’s ability to participate in politics. No longer would be people who are eligible to vote to be left out of the process due to inflexible work schedules, being homebound or ill, or not having a convenient polling location. Blockchain could help create a secure system of digital voting that would enable more political participation and reduce the risk of voter fraud. Blockchain would handle votes like transactions to help log votes as real and also to verify that voters are legally able to and registered to vote. Blockchain would empower people to vote and disrupt and equalize the modern political process

5. Contracts

Blockchain is part of the long-growing trends towards paperless documentation that is both more organized and more earth-friendly. Contracts are part of this – blockchain contracts are just like traditional contracts but without the 3^rd-party need for monitoring and legalization. This is helpful in a number of places, including employee-employer relationships and even real estate transactions.

6. Digital IDs

Right now, identification varies from country to country and even from state to state. Blockchain technology may be able to offer a solution to universal identification that would break down barriers to citizenship, employment, and more. It would also help empower the 1 billion people who are currently living without any formal kind of identification. More than 1 billion people worldwide don’t have any identity. Having an ID is crucial to being able to participate in many workplaces, apply for loans, secure housing and more, and blockchain-enabled digital IDs would not only help create inalterable, fraud-free forms of ID, it would also help empower refugees and other high-risk groups and allow them more access to services and more mobility in their lives.

Blockchain is important to businesses

One industry leader noted, “Whenever there is a physical movement and a financial transaction that occurs with that physical movement, it is right for blockchain.” Blockchain technology gives industries the possibility of more security, more transparency, and more understanding. It can serve as a way to enhance business processes that already exist and help create better visibility into those processes.  Your better business is waiting with blockchain.

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