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Know Everything About A White Label Bitcoin Exchange Software

Opting for a white label bitcoin exchange software has enormous benefits for businesses in the form of reduced costs, improved customization, and savings in time than developing an exchange software from scratch. Contact Infinite Block Tech for creating your own exchange in just 2 weeks!<br>

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Know Everything About A White Label Bitcoin Exchange Software

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  1. Know Everything About A White Label Bitcoin Exchange Software

  2. Table of Content Introduction Decide the scope of operations Assessment of KYC and AML Payment service provider Ensuring liquidity Priority to security Components of cryptocurrency exchange

  3. Introduction Cryptocurrencies have become the game changer in today’s world by becoming a highly demanded digital asset. As more business firms gain interest in developing customized cryptocurrency exchange software as per their business requirements, it is important to follow the proper process for getting the best results. Bitcoin is the leader of the cryptocurrency industry with a high market share.

  4. Decide the scope of operations Every firm must decide if it is going to go local or become global in its operations. 1) In the initial stages. It is better to restrict business activities to a particular region or nation for convenience. 2) As a business grows in size and scale, it can cater to international markets.  Every nation will have its own set of policies and guidelines regarding licenses and approvals. 3)

  5. Assessment of KYC and AML Most of the governments in this world will require a Cryptocurrency Exchanges to stick to Know your Customer (KYC) norms KYC refers to the task by which a business verifies the identity of its customers through government-issued ID cards. This is done to prevent incidents of money laundering where funds of the exchange get misused for illegal activities.

  6. Ensuring liquidity on the exchange No cryptocurrency exchange can operate well without possessing adequate liquidity. Customers will be hesitant to invest their hard-earned money if the exchange does not have a full order book. There are some ways of sorting out the liquidity crisis. Some commonly used techniques are – Buying and selling between two artificial accounts within your own exchange. Developing an Application Programming Interface (API) which will connect existing Bitcoin exchanges to other well-developed crypto exchanges, and all leading crypto exchanges in the market

  7. Form a relationship with a Bank or Payment service provider A White label cryptocurrency exchange must collaborate with a financial institution or a payment solutions provider to process online payments via fiat currency. Importance must be given towards developing a robust structure for smooth settlement and remittances. It is a necessity for customers who live in developing and underdeveloped countries. A smooth payment gateway will lead to better user retention, improved convenience, and higher trust in the system.

  8. Priority to security High importance must be given towards safeguarding customer’s data. A firm must invest in a strong digital infrastructure for ensuring utmost confidentiality. Bitcoins have been stolen and funds have been swindled. Since cryptocurrency exchanges attract a lot of public attention, exchanges must be in control of the funds of traders and investors. There are many cases where incidents of hacking, data breach and identity theft have occurred in cryptocurrency exchanges

  9. Components of a successful Cryptocurrency Exchange Software Trade Engine User Interface Wallet Admin Panel Every exchange software needs to possess a robust trade engine which can handle a huge volume of orders daily. Aesthetics and speed must be kept in mind while designing the interface. It should ensure a seamless and glitch-free trading experience. A wallet is a place where Bitcoins of traders are stored securely. It requires high-security as a large amount of funds are involved. An admin panel acts as a monitor towards the exchange software.  It helps in effective control and management of the daily operations. Its core functions include alteration of liquidity based on market movement, analyzing the spread of cryptocurrencies, fixing the trading fees

  10. Let's work together info@infiniteblocktech.com Email https://www.infiniteblocktech.com/white-label-cryptocurrency-exchange-software Website Phone +91 6382 665 366

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