The move headed for crypto regulations is itself an important indication that crypto-market are here to stay for the long. The digital coins are getting exchanged broadly and the industrialists find it comparatively easier to deal in cryptos such as Bitcoin, Litecoin, Ethereum, Ripple on behalf of traditional coins such as Dollar, Pound and Euro.
New crypto exchanges are rising promptly in each corner of the world with the help of several white label crypto exchange software developers, and many are at risk because of the cyber-attack. It’s quite important that investors try to find red flags while deciding on a crypto exchange and analyze fees as well as security safeguards.
Some statistics
▪ The market cap of Bitcoin surpassed $70 billion, with highest trading volumes nearby $3 billion per day.
▪ Cryptocurrency Trading Volume to See 50% Growth in 2019: Research
▪ Technology consulting firm CB Insights has recognized 27 ways blockchain can essentially transform procedures as diverse as banking, cybersecurity, voting as well as academics.
▪ The World Economic Forum evaluates that by the end of 2027, 10% of global GDP will be stored on the blockchain technology.
▪ Most mining pools are located in China, containing more than 70% of total Bitcoin mining. China assemblies’ most crypto mining tools and leverages the country’s cheap electricity prices.
things that make Cryptocurrency exchange software significant for crypto trading
▪ DIGITAL AND IMMUTABLE
Crypto exchange software is fully digital without any physical existence, thus minimizing all potentials of human interference. All the transactions for digital coins on a trading platform are irreversible. Only one way to undo a transaction is by starting a fresh transaction and reversing it.
Crypto exchange software is fully digital without any physical existence, thus minimizing all potentials of human interference. All the transactions for digital coins on a trading platform are irreversible. Only one way to undo a transaction is by starting a fresh transaction and reversing it.
▪ REDUCED RISK AND FRAUD
Because of the features of immutability and nominal human interference, crypto exchanges face reduced fraudulent activities & risks. They are safe, trustworthy and easy to transact compare to traditional trading platforms.
Because of the features of immutability and nominal human interference, crypto exchanges face reduced fraudulent activities & risks. They are safe, trustworthy and easy to transact compare to traditional trading platforms.
▪ NO GOVERNMENT INVOLVEMENT OR CENTRAL CONTROL
It’s a really an entity for a global platform, which is not governed by any nation or any association; thereby the system is fully decentralized and free from different regulations and limits.
It’s a really an entity for a global platform, which is not governed by any nation or any association; thereby the system is fully decentralized and free from different regulations and limits.
▪ LOWER FEES PER TRANSACTION
As compared to physical fund where banks have some static charges for every transaction, which are usually high, crypto exchanges offer nominal costs per transaction and also free transaction in multiple scenarios.
As compared to physical fund where banks have some static charges for every transaction, which are usually high, crypto exchanges offer nominal costs per transaction and also free transaction in multiple scenarios.
▪ COMPLETE OWNERSHIP
Even if the blockchain has a decentralized nature, the owner can still control the overall platform.
Even if the blockchain has a decentralized nature, the owner can still control the overall platform.
BENEFITS of exchange for platform owners
▪ Scalability
o High scalability platform
o 3rd party integration services
o Flexible Architecture
o Customization
o Constant addition of new features
▪ Usability
o In-built dashboards and Reports.
o User-friendly signup as well as trading process
o Customized Themes
▪ Security
o Wide-ranging Vulnerability assessment
o Decentralized ledger for high security
o 2FA and Alerts
▪ Decentralized Exchange
o Option for Blockchain powered decentralized exchange
o Smart Contracts for workflow automation
Summing up
In most circumstances, small organizations can profit from implementing white label cryptocurrency exchange software. There are pros & cons, but the procedure is easy and the problems of accepting digital coins are minor. If you need to keep your business competitive and attract new traders or merchants, it’s time to hit the books about digital coins and embrace the Fintech variations with open arms.
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