What are the features of crypto exchange website?
We all know about crypto exchanges and the role they play in making crypto access easier. There are many types of crypto exchanges with different functionalities. This blog will shed light on the features of crypto exchange website.
What are Crypto Exchanges?
Crypto exchanges are platforms to trade crypto assets. To buy, sell, trade or swap crypto assets you need a platform where users and buyers connect and conduct trades. This platform is known as crypto exchange. Crypto exchanges can be a website or a mobile app too. These exchanges are easy to operate. The basic process is the same in all crypto exchange platforms. You have to create account, transfer Fiat money and then buy or sell crypto assets.
Types of Crypto Exchanges?
Crypto assets are decentralized digital assets. Therefore, it is only natural that the platforms facilitating their trade can be decentralized too. Hence, there are different types of crypto exchange platforms.
Centralized Exchanges – This is the most common type of exchange. Here you trust third party to monitor and facilitate transactions. The central authority holds your funds and fulfills orders. However, centralized exchanges are not that secure as they are vulnerable to security hacks due to centralized storage of funds.
Decentralized Exchanges – These operate on blockchain technology. Blockchain maintains the details of funds & transaction details. Therefore, DEX’s are highly secure and trustworthy crypto exchange platforms.
P2P Exchanges – As the name suggests, this exchange operates as direct link between buyer and seller. P2P Exchanges have an escrow account that holds the funds and crypto. When trades are confirmed, funds are released from the escrow. P2P exchanges are highly secure and transactions are swift too.
The key features of crypto exchange website
Now let us talk about the key features to include in crypto exchange website. If you are planning to develop your own crypto exchange website or app, you must understand the key features to include in that.
User Sign In – One of the mandatory features is obviously user access, authorization and verification of user to begin with. Your website should have a simple, user friendly and interactive sign-up feature to help users fill in their details and undergo verification process. You should also include two-way authentication and anti-bot verification to safeguard the user information.
PlatinX Technology is a leading crypto exchange development firm and they provide innovative and simple UI/UX designs that are completely user friendly.
Trading Engine – Simply speaking, a trading engine is the software which matches your orders with price quoted to sell order of same price quote. It matches buy and sell transactions, update order book, execute transactions etc. Trading Engine is cutting-edge technology-based software program. You need a team of highly experienced developers to develop a trading engine and the entire architecture.
The Ticker – Crypto exchanges should include a user interface where you can show his transaction history as well as current market prices of crypto assets. The interface should be easy to operate and interactive to use as well. The dashboard must include quick access to transaction history, last order, crypto market price, fund balance and other matrices.
Wallet – Wallets are most important part of crypto exchanges. They store, send or receive your digital assets. Wallets are built for one crypto or for multi-crypto as well. They are integrated with multi-payment gateways and fiat currency transfer systems.
Wallets are tricky and require highest quality security features to ensure user’s fund safety. PlatinX Technology is adept in providing multi-sig, latest technology-based and highest security enabled wallets. They provide wallets development and integration in the process of crypto exchange development.
API – These are the most important feature of any exchange. APIs are of different types and provide various functionalities. APIs allow sending and receiving information from other markets and trade changes. They also allow to integrate multiple trading platforms effortlessly and swiftly.
Analytics – Analytical tools allow investors to utilize strategies according to the market situations. There are many types of technical indicators by leading crypto exchanges such as Relative Strength Index, Moving Average etc.
Push Notifications – Push notifications are highly necessary to provide best services. These help you in communicating with users, keep them abreast of news, offers, changes in policy etc.
These are some of the essential features that a crypto exchange website/app must have. If you are planning to launch your own crypto exchange platform, then PlatinX Technology is your one-stop crypto exchange development company. We provide a wide range of crypto solutions and have expertise in developing seamless, secure and efficient trading platforms. Visit us at www.platinx.io to know more about our services.