Bitcoin came into existence on 3 January 2009 and was initially priced at $0. In just 12 years it crossed $64,863.10. Thus, if someone had invested in bitcoin in 2009, he would have got an ROI of about 37066.49%.
However, it is well known that Bitcoin’s value has been historically quite volatile. As per a very recent update, following Musk’s tweet, bitcoin rose 5.1% to $37,360.63 against its previous close of $1,817.87, and with another tweet, the value of bitcoin crashed. Cryptocurrencies have been in the market for a long time, with Elon Musk stirring up the way the world sees digital currency by bringing Dogecoin, Litecoin, and Bitcoin in his tweets.
As you probably know, Bitcoin is not the only cryptocurrency in the market but it is the king of the market. There are above 10,000 cryptocurrencies each of them has their own purpose and computing with Bitcoin directly or indirectly.
These all cryptocurrencies are being traded on a platform known as a cryptocurrency exchange. There are numerous cryptocurrency exchanges out there that have their own features, functionality, and number of cryptocurrencies listed on them.
As the crypto market is growing at a rocket pace, businesses and startups are taking interest in using the potential and reach of cryptocurrencies. There are various ways to earn in this market, but if we talk about the major ones, then, one way is developing a token and launching ICO, IEO, or IDO and another option is developing and launching their own cryptocurrency exchange.
We covered the first one earlier and today we are explaining the second one here. SAG IPL is a Jaipur-based IT Blockchain company providing P2P exchange development services that have helped clients in the past by providing solutions that will make it easier than ever for investors to access and explore the opportunities the solution offers.
With our years of experience, we understand that though not many people are fully aware of its working, they would love to invest in the technology for the future that it has to offer.
- Some Extra Points you Should Know Prior to the Development
- What is CryptoCurrency?
- How Does the P2P Crypto Exchange platform work?
- Features of P2P Cryptocurrency Exchange Software
- P2P Exchange Development Process
- P2P Exchange development Cost
Some Extra Points you Should Know Prior to the Development
There are some important points you should know about before the development process begins. These points will help you make good decisions and will also impact the success of your p2p exchange.
Types of Trading
Since each type of exchange platform has a different requirement and service, we have basically six types of trades available in the cryptographic currency trading market. They are
- P2P crypto trade
- Half and half crypto trade
- Centralized crypto trade
- Advertisements based crypto trade
- Decentralized crypto trade
- Orders book crypto trade
You can enter the market with a solution that has all the above or you can choose the one trading type that seems appropriate for your project. Expert developers who have worked on these solutions for years can easily help you enter the market with solutions that are technologically ahead.
Be sure to do proper research and fully understand the benefits and usefulness of these trades and choose the best type of trade that best suits your business interest.
White Label exchange v/s Exchange From Scratch
Bringing together or launching a cryptocurrency exchange platform on a decentralized platform would be the most ideal decision. And for development, there are two options:
- White label exchange
White label exchange development is a way that is also known as Ready-Made exchange. In this way, developers will develop/customize an already made/ready-made according to the requirements of clients, and you will take it to your market.
- Exchange development from scratch
As per your requirements, developers can build the exchange from the basics. In this way of development, we will develop an application that is customized and designed to suit your needs. It takes a bit more time and it is a bit more expensive, But it will make sure that you get a unique and futuristic exchange.
We have a team of experts and they can help you with the best P2P Crypto Exchange Development Company at an economical cost and with clean coding and great after-sale support. We will make sure that we fulfill all your requirements and also maintain the modern-day standard.
What is CryptoCurrency?
Cryptocurrency is a type of digital money secured by cryptography. It can be used for trading, transactions, and making payments. Various global brands and organizations have shown their faith in this futuristic currency and technology. These companies and brands are entering the crypto market with their own token and standard that can be easily used explicitly for the products and services offered by the organization.
Digital currencies are based on blockchain technology. Blockchain is a complex and decentralized technology spread across multiple PCs that oversee and record data of exchanges. This technology ensures the highest level of security.
How Does the P2P Crypto Exchange platform work?
When bitcoin has introduced a whitepaper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” was made available on the official website. Thus, bitcoin, or as we can say cryptocurrency is developed for peer-to-peer transactions.
You need to have a basic understanding of what a cryptocurrency is and how it is managed in order to thoroughly understand the workings of a P2P crypto exchange platform. We understand this and so we went to our P2P exchange development team and got all the details mentioned below. We are sharing here the details of how the exchange platform works and how they make it a point that the solution offered is reliable and secure.
The digital currency market or crypto market is decentralized in nature and here money is not given or offered to anyone exclusively like other currencies. All the data is stored into an organized network of computer systems. This cryptography-protected money can be bought and sold through trades and kept in a ‘wallet’.
Unlike customary monetary standards, crypto money exists as a generic advanced record of ownership, which is kept on a blockchain. At the point when a client needs to send money to another client, they send it to the digital wallet of the client.
The transaction will not be considered final until it is verified and added to the blockchain through a process known as mining. This is additionally how new cryptographic money tokens are created in general.
Once your users have installed the application of exchange or used a website to make a transaction the transaction process will start. The registration and transaction process sounds a bit complicated, but our experts will always be there to keep everything clear. After installing the software users have to go through some compulsory steps to start the transaction process.
Features of P2P Cryptocurrency Exchange Software
To ensure that your P2P cryptocurrency exchange solution is ahead of the competition, we will help you on every step, if you have a plan and idea then well and good. Otherwise, we will suggest features, functions, and designs provide unique and advanced solutions. Here is the list of features that are very common these days in an exchange platform.
Bitcoin, Ethereum, Dogecoin, etc. are very popular in the market but there are over 10,000 cryptocurrencies out there ready to be traded. With multiple cryptocurrency support, you can transact in any of these cryptocurrencies. By including this feature, developers will ensure that your users do not have to shuttle between applications for different cryptocurrencies.
As cryptocurrency has gained popularity over the years, providing content or platform in multiple local languages would be a good step for a better understanding of end-users. You can ask your developers to add multilingual support to the platform. Therefore, users can choose their native language to read all the content including the Terms and Conditions in the local language for better understanding.
Robust Trading on Exchange
We will try to boost up the speed of making transactions with a very clear user interface, modern technologies, and easy processes. All the transactions will be fully secure, and safe. Our developers will build a highly secure trading platform that will help you make secure transactions
Automated KYC/ID/AML verification is a must-have feature in an exchange platform these days. It lets the administrator find the right users quickly and efficiently for better solutions. It also eliminates hackers and other risk factors.
image source by BankBazaar
The latest exchanges also offer a crypto swap feature. Basically, it allows crypto holders to easily exchange one cryptocurrency for another without leaving the current crypto wallet. With this feature, crypto holders can exchange their cryptocurrencies in your private key wallet or in your trading account. However, swapping through the trading account offers fast settlement and zero network fees.
This feature will be available for users as well as admin, to ensure higher standards of security. Our platform will keep the verified users updated with emails and including Google 2FA will make sure that no unpleasant activity happens on our platform with your account and data.
Nowadays exchanges are providing options of trading so that users can choose a preferred way of trading and make a big profit. Users can always choose their preferred sellers to make it easier for them to make the best possible profit in a limited amount of time ensuring smooth trading results.
P2P Exchange Development Process
Normally, Each and every P2P Crypto Exchange Development Company team follows a very identical process. They will start with exploring the ideas and all the requirements and they will then develop the platform then they will work on designing and at the end they will deliver the solution. However, complete details of the process are provided below.
1. Idea and Research
We will arrange a meeting and then we will discuss your idea and try to analyze its scope. Our development team will also join the discussion. Our experts will do all the research, gather the required details, analyze the market, and verify. We will also share the prepared documents with you which will have the detail of planning, and offered services, expected results, and timeline of the development p[rocess,
We will present a prototype or show you examples of the designs we can apply on the platform. It will also give you the proper idea of how the platform will look and how it will work. All the design options are already analyzed and checked before presenting them in front of you. We will also make sure the design meets the requirements and your constant inputs. Additionally, we also understand that the design of the platform is easy to understand and engaging.
After finalizing everything from your side, the next step is to bring all together and build a solution that is 100% functional and easy to understand. The installation of the trading engine and other integrations will take place at this step.
The move involves the integration of various blockchain solutions with the solution. We will ensure that the solutions we have created are tested and technologically advanced to compete in the market of the future. We will also make sure that all the features which are required are integrated and working well.
5. Token Listing
In this step, we will make sure that your tokens are listed on the platform in a proper manner. We understand that your end-users will be investing in different currencies and thus, the token list, as well as accepted currencies, needs to be kept up-to-date whenever required.
6. Delivery of the Solution
Before delivering the solution we will make sure that all the futures and functions are included and working well. It will also be our responsibility to deliver a flawless and well-developed solution with all the credentials.
P2P Exchange development Cost
It is a well-known fact that the cost of such a solution which deals with cryptocurrency and blockchain remains a bit higher compared to the normal on-demand solutions. It is also because these solutions involve mining and other complicated processes. However, the cost also depends on some other factors like:
- Location of the firm you outsource services from.
- Features integrated and complexity
- Security and Safety Factors
- Time is taken in the development
- Number of Developers required
- Extra services
If you are looking to make huge profits and want to enter the market with a robust platform that will help you stay in the market for the long run make sure to choose a reputed company that is having some experience.
If you are searching for a Top P2P Cryptocurrency Exchange Development company with experience and reputation, SAG IPL is here for you. The company has experience in completing over a hundred exchanges and cryptocurrency projects. We, at SAG IPL, have all the resources and a team of 300+ industry experts. We will make sure that your exchange gets launched with all the features before the given time and on a budget. So contact us now and let’s discuss your idea in requirements.