Today, the demand for cryptocurrency exchange operations and its withdrawal to fiat often exceeds supply, so the exchange market will inevitably expand. A significant number of cryptocurrency exchanges do not provide users with the ability to withdraw funds to fiat, which only exacerbates the exchange problem and increases the demand for such services.
Thus, the importance and popularity of cryptocurrencies also increase with rising digitization. There are around 3,000 different cryptocurrencies, and they are increasingly accepted as a method of payment.
Step by step – how to create your own business based on Bitcoin and cryptocurrencies exchange?
It is no longer news that the price of Bitcoin is on the rise. It is possible to start the business in the Bitcoin ecosystem in the sale and purchase which is possible even with relatively modest capital. Ordering the service of cryptocurrency exchange development, you could start earning money by providing services to the crypto community.
Across the Counter: Creation of an exchange
Exchange is the closest thing to a bank that can be found in the bitcoin world. The service provided by a cryptocurrency exchange is meant to bring together sellers and buyers of cryptocurrencies together. Technically, it works by creating temporary virtual wallets where cryptocurrency purchase and sales orders are stored at certain prices agreed by the parties. The broker's business is to charge a commission for each of the transactions (the price of the commissions depends on the type of service, some are faster and others are safer).
What does it take to start?
Like any other company, a cryptocurrency exchange needs an initial capital investment (ranging from the US $ 1 or the US $ 2 million as in the case of huge Bitcoin exchangers with advanced design, to $ 20,000 as in the case of simpler ones). The most important human resources involved are technical developers and legal advisers.
The technology platform, the heart of an exchange that supports transactions, can be acquired in several ways, and we will describe the one where we could provide our help.
It can be developed in-house, leaving it in the hands of a specialized team of programmers. The benefit of this is that the software can be made to measure, incorporating different languages for different cryptocurrencies. At the same time, it is easier to add other payment platforms (both banks and other exchanges) and services such as APIs.
Thinking to create a cryptocurrency exchanger? To do this, you will need the help of professionals. If you want to know the price of development in this area, order a project or develop web services for operating cryptocurrency assets, please contact us at Eska! We have successfully launched similar software solutions, so we can easily bring yours to life.