When bitcoin came out, a whitepaper called "Bitcoin: A Peer-to-Peer Electronic Cash System" was posted on the official website. So, bitcoin, or cryptocurrency, is made so that people can send money to each other.
To fully understand how a P2P crypto exchange platform works, you need to have a basic understanding of what a cryptocurrency is and how it is managed. We know this, so we went to our P2P crypto exchange development team and asked them for all the information listed below. Here, we explain how the exchange platform works and how they make sure the solution they offer is safe and reliable.
The digital currency market, also called the "crypto market," is not centralized, and money is not given or sold to only one person or group. All the information is stored in a network of computers that are set up in a certain way. This money is protected by cryptography, and it can be traded and kept in a "wallet."
Unlike traditional money, crypto money is a record of ownership that is kept on a blockchain and is not tied to a specific person. When a client wants to send money to another client, they send the money to the client's digital wallet.
The transaction won't be complete until it has been checked and added to the blockchain, which is called "mining." In general, this is also how new cryptographic money tokens are made.
The transaction process will begin once your users have installed the exchange app or used a website to make a transaction. The process of signing up and making a transaction sounds complicated, but our experts will always be there to explain everything. After installing the software, users must take a few steps before the transaction process can begin.
Features Of P2P Cryptocurrency Exchange Software
We will help you at every step to make sure that your P2P cryptocurrency exchange solution is better than the rest. If you already have a plan and some ideas, that's great. If not, we will suggest that your product's features, functions, and designs offer unique and advanced solutions. Here is a list of things that almost every exchange platform has these days.
Several cryptocurrencies
Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies are very popular on the market, but there are more than 10,000 others that can be traded. With support for multiple cryptocurrencies, you can do business in any of them. By adding this feature, developers can make sure that users don't have to switch between apps to use different types of cryptocurrency.
Multi-Lingual Support
Since multi-currency wallet development has become more popular over the years, it would be a good idea to offer content or a platform in more than one local language. This would help you understand your end users better. You can ask your developers to make the platform work with more than one language. So, users can choose their own language to read everything, including the Terms and Conditions, in their own language, which makes it easier to understand.
Exchange Trading Is Busy
We will try to speed up transactions by giving users an easy-to-understand interface, using new technologies, and following simple steps. Every transaction will be safe and secure. Our programmers will build a trading platform that is very safe and will help you make safe transactions.
Automated Know Your Customer
These days, an exchange platform must have automated KYC/ID/AML verification. It makes it easy and quick for the administrator to find the right users so that better solutions can be made. It also gets rid of hackers and other security risks.
Swap crypto
The most up-to-date exchanges also have a feature called "crypto swap." Basically, it makes it easy for people who own crypto to trade one crypto for another without leaving their crypto wallet. With this feature, people who own cryptocurrencies can trade them in their private key wallets or trading accounts. But swapping through the trading account is fast and doesn't cost anything for the network.
Multiple Authentication Factors
This feature will be available to both users and admin to make sure that security is at a higher level. Our platform will send emails to verified users to keep them up to date, and using Google 2FA will make sure that no bad things happen to your account and data on our platform.
Favorite Trading
Now, exchanges offer different ways to trade so that users can choose their favorite way and make a lot of money. Users can always pick their favorite sellers, which makes it easier for them to make the most money in the shortest amount of time. This makes sure that trading goes smoothly.
P2P Exchange Development Cost
It is well known that the cost of a solution that deals with cryptocurrency and blockchain is a bit higher than the cost of a normal on-demand solution. It's also because mining and other complicated processes are used to find these answers. But the price also depends on other things, such as:
- Location of the company you hire to do work for you.
- Features that are built-in and complicated
- Factors of Security and Safety
- Development takes time. Number of Developers needed
- Extra services
Choose a well-known company with some experience if you want to make a lot of money and get into the market with a strong platform that will help you stay there for a long time.
Suffescom Solutions INC. is here for you if you want to find a Top P2P Cryptocurrency Exchange Development Company with experience and a good name. The company has done more than 100 exchanges and cryptocurrency projects before.
