10 Easy Steps to Start A Cryptocurrency Exchange Business in 2020


Posted On Jan 23, 2020 06:01 PM

In today’s world, the paper currency change into paperless currency did you can’t understand the meaning of “paperless currency”? The people are shifting towards a new digital environment they called as “cryptocurrency”.

They are numerous countries in the world where people are using a different type of cryptocurrencies like Bitcoin, Litecoin, Ethereum similar to the fiat currencies. 

This guide will help you to become a billionaire businessman in creating a cryptocurrency exchange.

Here are 10 easy steps to start a crypto exchange platforms in 2020

Step 1: Find the type of crypto exchange you want to launch

If you want to start a cryptocurrency exchange than you need to understand the different types of exchange platforms first.

Centralized exchange: A centralized exchange involves a middleman or a third party while traders are involved in trading. Since this, an intermediary is involved to handle the transactions securely to avoid spammers. The exchange admin can charge the trading fees, offers high liquidity to other exchange.

P2P exchange: A P2P (Peer-to-Peer) exchange has no middleman while connecting the buyers and sellers directly. However, a third party comes through the escrow model called dispute resolutions. A P2P exchange is also popular among traders so it can be also an ideal option for your development.

Decentralized exchange: A decentralized exchange also having facilitated it is run’s without any intermediary person. This type of exchange platform is based on a smart contract method when the parties' conditions meet the transactions and go successful.

Once you have chosen the type of exchange then you need to analyze the next revenue model for the business.

Step 2: Analyze the market trends

The Market trends will change often will a new update for even a single second. Entrepreneurs must know what is the excepting features from traders and upcoming new digital assets, tokens, etc.

Step 3: Selected the new locations to launch the exchange. 

Take time to choose where you want to set up your crypto exchange business. You may want to check the country's regulatory framework and government policy, whether you can attract the traders.

The crypto-friendly countries are really worthy places to build an exchange business.

  • Malta 

  • Bermuda 

  • Switzerland 

  • Gibraltar 

  • Slovenia 

  • Singapore 

  • Estonia 

  • Georgia 

  • Belarus

  •  Hong Kong 

  • Japan 

  • Germany 

Step 4: Get legal advice from a member of legal counselors

If you are new to the cryptocurrency business you have a doubt in regulatory aspects in a particular country especially, if you do not come from a legal background. It is always advisable to hire a legal team that can check out the regulations in the country.

In 2020, some countries can change the regulations laws it will better to hire a team for set exchange.

Step 5: You need to find a cryptocurrency exchange development company.

You need to hire a cryptocurrency exchange website developer’s or you can give a valuable project to the best software company. In addition, check the company feedback and latest project what are they developing. 

Step 6: Blockchain and Technology stacks 

The success of your project depends majorly on the development team like how many hours they need in a day and what technology stacks used, Exact time delivery without the bug  , maintains, etc. 

The chosen company should comprise the following points:

  • Business analyzer

  • Financial advisors

  • Planing Method

  • Designing Experts

  • Blockchain technology implementer

  • Techy Core Language developers 

  • Tester

  • 24*7 Maintains Team

  • Digital marketing experts

Step 7: Premium features Integration Method

Your crypto exchange platforms need premium features to enable secure, easy and quick trading methods.You can get the white label crypto exchange software and custom exchange features like:

  • Robust trading matching engine

  • High liquidity options

  • Instant KYC/AML verification

  • Multi-signature crypto wallet integration

  • Chat Bot integration

  • Affiliated Referral program

  • Fund investment like ICO, Tokens.

  • Multi-cryptocurrency support

  • Multi-language support

  • Type of order trading system

  • Feedback scrolls

Here are some security features that can be integrated into your crypto exchange platforms.

  • Multi-layer secure algorithm

  • HTTPS Authentication

  • Data Encryption

  • Jail Login

  • SQL Injection

  • Anti Distributed Denial of Service (DDoS)

  • Anti Denial of Service (DoS)

  • Cross-Site Request Forgery (CSRF) Protection

  • Server-Side Request Forgery (SSRF) Protection

Step 8: Introduce your new crypto exchange business

You need to promote your crypto exchange to meet your target audience otherwise, your business will never showcase. You need a marketing team they can plan the intelligent marketing strategies to promote your exchange to your dedicated audience.

Here are some marketing steps that can be followed to promote your exchange:

  • Search engine optimization (SEO)

  • Content marketing

  • Social media marketing on channels like LinkedIn, Twitter, Facebook, Instagram, Telegram, and more

  • Email marketing

  • Pay Per Click (PPC)

  • News and PR

  • Forums like Bitcointalk, Cryptointalk, Reddit, Quora, and more

  • Video Marketing

  • Reputation management

Step 9: Rounded Clock Wise Support

The success of any business depends on its customer's stratification. Have a 24*7 dedication team to quickly resolve any issues or errors that the users may suffer. This will help you build trust among your existing and potential customers, enabling you to develop as a reliable brand name.

Step 10: Technology Versions Updated features

The years are moving up technology ways also changed you also need to place your brand number one in the cryptocurrency with the full support of cryptocurrency exchange company.

If you are planning to build your crypto exchange website we can help you. We are the sellbitbuy cryptocurrency exchange development company that offers crypto exchange development services, so whether you want to build a custom crypto exchange provides the white label crypto exchange software.

Just spent a few hours to book a free consultation from our blockchain & crypto exchange development experts

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