How to create a cryptocurrency exchange platform

Cryptocurrency exchange is a platform that allows users to buy/sell different tokens. It's similar to a stock exchange, but instead of stocks, you buy or sell cryptocurrencies. In this article, we will tell you how to create a cryptocurrency exchange platform.

First step in creating your own cryptocurrency exchange is choosing the type of trading platform that you plan to build. It's important because the platform choice determines the cryptocurrency exchange mechanism, how it is stored, liquidity management, fiat trading and other functions.

Cryptocurrency exchange should be launched only through custom development, because this is the only way to ensure the proper quality and security of the software. There are ready-made solutions (scripts), but they are usually created by amateurs and/or carry the risk that there will be many security holes in the code created intentionally or by oversight. Given the situation with such frequent hacks of cryptocurrency exchanges, it is not worth the risk.

After you choose a development company, the process of creating a cryptocurrency trading platform will look as follows:

• Signing a contract. You and the developer company discuss the general concept of the cryptocurrency exchange, on the basis of which the technical description of the project is created. After that, you agree on the timeline, cost, KPIs, communication channels and sign a cooperation agreement.
• Prototyping the platform. In the next stage, the designer, business analyst and/or customer create a framework for the design of the cryptocurrency exchange, which is then discussed and fine-tuned to perfection.
• Creating the interface design. Next, based on the wireframe, the designers develop a mockup and/or prototype of the platform's interface, which shows how it will look to traders and administrators.
• Direct coding. Once the design is created, it and the technical description are handed over to the programmers, who implement it all in the code. Front-end, back-end, blockchain, and mobile developers are responsible for this.
• Product testing. Almost immediately after the start of coding, the QA-engineers get down to business, and they check the fresh code for errors, and so on until the software is written. Other tests are done at the same time.
• Deployment and support. Once the cryptocurrency exchange software is ready to launch, a marketing campaign to attract traders begins. The platform is added to business listings and social networks.