Overview
Client is associated with a financial services company headquartered in the US.
Business Need
The client wanted to build Cryptocurrency exchange software having strong architecture and backend system. The solution should be secured, offer fair trading and charge lower transaction fees than competitors available in the market. It should broker all popular digital currencies like Bitcoin(BTC), Bitcoin Cash(BCH), Ethereum(ETH), Litecoin(LTC), Ripple(XRP) etc. The Cryptocurrency exchange software should allow users to manage their portfolios, buy & sell cryptocurrency and also exercise digital currency exchange.
Client Situation
The client was in a dilemma and could not determine how to manage the development of suitable software for providing Cryptocurrency exchange services. There was a lack of both domain knowledge and tech expertise. Even, there were concerns regarding long-term post-production support for the solution.
Technologies
Web Technologies:
- LAMP (Linux, Apache, MySQL 5.6, PHP version 7) Codeigniter Framework
- HTML5 + Bootstrap + AngularJS
- Amazon Web Services cloud hosting
- APIs/Service Integration: Twilio SMS Gateway, BitGo API, IdentityMind Global API, Crypto Trade Engine Integration
Recommended Solution
Team at WeblineIndia developed a cryptocurrency exchange app and backend, at an affordable cost, that has robust architecture and secure data transfer network to provide the best protection over vulnerabilities and digital theft. Moreover, the solution is efficient enough to provide high performance and attract more and more users to rely on. Our cryptocurrency exchange development solution offers public Blockchain with all popular digital currencies to invest and trade with favorite ones. Crypto Trade Engine has been implemented to provide real-time transactions, very much essential in any Exchange operations.
Key Features:
- Buy cryptocurrency using Cash/Credit Card/Debit Card
- Cloud based hot and cold wallet feature to store digital currency
- Direct trading on P2P network for lesser brokerage charges
- Tax and Payment Methods auto applicable based on buying Location/Country
- Seamless API Integration with commercial merchant apps to start accepting payments in cryptocurrency
- Special features for Gold/Silver/Lite members
- Fast and secure digital cryptocurrency exchange service
- User friendly Interface, require less technical knowledge
- Transaction history helps user to track their activities
- Auto booked order at specified Stop-Limit to Buy or Sell
- Integration with 3rd Party wallets
- Aligned with industry standards and best practices
- Swift transactions without any delay
- Latest Industry Insights
- Multilingual support
Result
- Cryptocurrency exchange next-gen development providing Lower transaction cost
- Trusted digital currency software with secured and fair trading
- Trade using mobile phones and tablets
- Trading support for 50+ cryptocurrencies
- One stop cryptocurrency solution covering different development components as, digital wallet, exchange, trading and commercial integration services
Frequently Asked Questions
What is a Cryptocurrency Exchange? How does it work?
A cryptocurrency exchange is an online platform where registered users can buy, sell, and trade cryptocurrency. It works similarly to an online brokerage solution, where users can deposit/withdraw fiat currency, use funds to buy/sell cryptocurrency. Users can also do trading over their cryptocurrency for other cryptocurrencies to earn interest on staking cryptocurrency within the exchange platform-based account.
Existing challenges of Cryptocurrency Exchange Development?
These are some core technical and business challenges of developing and operating cryptocurrency exchange like providing required security, trading support with all different fiat currencies, expensive to mine cryptocurrency, and also not having mainstream adaption.
What are Cryptocurrency Exchange Development Solutions?
Robust cryptocurrency exchange development solution shall offer public Blockchain with all popular digital currencies to invest and trade for users. High-performance Crypto Trade Engine needs to be implemented to provide real-time transactions, very much essential in any Exchange operations. The solution should have speed, security, and easy to scale architecture to handle large transactions and upscaling as per need.
How did the team come up with scalable & secure cryptocurrency exchange architecture?
The team has to design a highly secure and scalable exchange architecture to handle a large number of real-time transactions with the required speed and safety. It also needs to provide integrations with cryptocurrency wallets and other exchanges to provide the required flexibility to users.
