Simple Procedures to Develop a Decentralized Exchange Platform (DEX)
Nowadays, many people are aware of crypto coins and crypto exchange platforms. There are two main types of Bitcoin exchange platforms, such as centralized crypto exchange and decentralized crypto exchange. Currently, the centralized exchange platforms are more in number compared to decentralized platforms.
Even though popular Bitcoin exchanges like Binance had started centralized exchange initially for expanding their business worldwide. In a centralized exchange, there will be an admin to monitor your crypto trading and transactions. So your privacy is less. But later, Binance launched the decentralized exchange to grasp the attention and to increase the number of crypto users.
The interesting point you must know is, many crypto enthusiasts used Bitcoin exchange software for starting a secured crypto exchange business. This made decentralized cryptocurrency exchange widespread among the crypto investors. In this blog, let us figure out what is the decentralized crypto exchange and how to develop the decentralized exchange.
What is the Decentralized Cryptocurrency Exchange?
A decentralized cryptocurrency exchange is a peer to peer crypto trading platform. Here, the user to user can trade the digital assets or cryptocurrencies. There will be no admin or intermediate to monitor your crypto transaction. So you can process the secure cryptocurrency transactions in this decentralized trading platform. Users can directly match with the other user for trading crypto coins. So there will be no need for an order book system.
As for now, startups and entrepreneurs are emerging to start the decentralized exchange platform. Decentralized exchange does not hold any user funds or information. All the crypto exchange platforms are converting into a decentralized crypto exchange. So that users can safely trade the Bitcoins and other cryptocurrencies. There will be no commission charges for every transaction. So it is beneficial for both the buyers and sellers in the decentralized cryptocurrency exchange platform.
How to launch a peer to peer cryptocurrency exchange website?
- Have your business requirements and new ideas to build a decentralized cryptocurrency exchange.
- Check for the jurisdiction where you have planned to launch your peer to peer cryptocurrency trading platform.
- Identify the first-quality Bitcoin exchange software provider. So that they can guide you to launch your decentralized crypto exchange platform.
- Develop a new blockchain DEX network according to your business needs.
- Combine your blockchain DEX network with your Peer to Peer cryptocurrency exchange platform.
- Enable the finest high-end security systems in your decentralized crypto exchange platform
- Integrate some advanced trading features in your P2P crypto exchange.
- Finally, deploy your P2P crypto exchange website quickly with the help of the efficient professional decentralized bitcoin exchange software provider.
You can integrate some salient features in your decentralized crypto exchange platform. So that you can be unique in the crowd. Here I mentioned some unique features that you can enable in your peer to peer crypto trading platform.
- Live trading statistics in a graphical representation
- Limit, market, and stop order trading modes
- DEX order book
- Advanced content management system.
- Cryptocurrency price tracker API
- Margin trading
- Multi-signature wallet
- Rest API
- Customizable contract
- Atomic swaps
- Multi-language support
- Two-factor authentication
- Biometric authentication
Benefits of using Decentralized Cryptocurrency Exchange
- It is developed under blockchain technology so there will be no possibility of fraudulent activities and thefts.
- Beginners can easily trade cryptocurrencies in a secure way.
- Users only can control their funds and no third parties involved.
- User’s anonymity and not restricted by laws.
- You can trade any crypto coins instantly by connecting with other users.
- The decentralized exchange platform has a distributed server. So there will be no failure at any point in crypto transactions.
- High security and privacy
- Low risk for hacking and phishing
- Faster and secure transaction.
- Works fully in decentralized servers.
- Tightened with specialized security features for trading and for other processes.
Conclusion
In the crypto industry, many crypto exchanges integrate P2P crypto trading. Because it helps to increase the user base in the exchange platform. Also, decentralized applications and smart contracts are prevailing in the crypto market. If you are looking to start a decentralized crypto trading website. Then you can hire a bug-free bitcoin exchange software to launch your P2P crypto exchange platform instantly according to your business requirements.
