10 Essential Features and Functions of Crypto Exchange Platform Development

There are numerous things that must be addressed when developing a cryptocurrency exchange. And, because this platform will be utilized on a regular basis by hundreds of thousands of people, it must be as intuitive and simple to use as feasible.

10 Essential Features of a Cryptocurrency Exchange website

1. Validation and Authorization

This authentication is necessary for the safety of users' assets and information in order to successfully operate a crypto exchange. A phone number or email address can be used to simply authenticate an account.

1. Trading Engine software

Trading engine systems are used to automatically manage orders on a website. They aid with the real-time tracking of cryptocurrency values and the processing of transactions by filling buy and sell orders according on market conditions.

1. Deposit and withdrawal of cryptocurrency wallets

Users can send and receive coins from other wallets using a crypto wallet. The exchange should have its own wallet system, allowing users to access their funds at any time and from any location.

1. API for internal use

An internal API can be used to interact with your database or other systems to automate procedures or provide users with direct access to information from a third-party platform.

1. Admin Console

Employees can manage all parts of your website's content and functioning through the admin panel. They have the ability to create new pages, modify old ones, add products, manage users, and so on. They can also use this panel to make changes to the entire site.

1. A dashboard for analytics

The analytics dashboard will assist you in monitoring the performance of your website. You can obtain statistics on the number of visitors to your site every day or week, as well as other information about their behavior while on your site.

1. Alerts and Notifications

It is critical to stay current on price changes and market trends in the realm of cryptocurrencies. Every trader wants to be notified when the price of a coin changes so that they can capitalize on the situation before others do.

1. System of Assistance and Support

If consumers have any queries or concerns about their account or orders performed on the platform, a reputable crypto exchange website will provide a variety of support services such as FAQ sections, video lessons, live chat rooms, and other means to contact customer service representatives.

1. Integration with credit cards

Some cryptocurrency exchanges allow users to deposit funds using bank cards, allowing them to buy coins instantly rather than waiting for confirmation from an external wallet provider like Coinbase or Bitstamp (which can take up to several days).

1. Transaction History

Transaction History The transaction history function on a bitcoin trading website is one of the most crucial features. This enables traders to view their previous trades, as well as how much money they made or lost as a result of them.

 Advanced Functions of developing your own crypto exchange platform

1. Integration of NFT

Non-fungible tokens (NFTs) are one-of-a-kind digital assets that cannot be copied or duplicated. By incorporating NFTs into your website, you can give visitors multiple ways to connect with their favorite blockchain games and projects without leaving your platform!

1. Biometric information

Biometric data is unique to each individual and can be compared to existing records. It enables you to determine whether the person attempting to enter into your account actually owns it. Biometrics can be used for authentication, transaction authorization, and other purposes

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1. Your personal tradable token

Another advanced feature available on cryptocurrency websites is the opportunity to design your own token with a unique name and description. You can also specify its kind (ERC-20, ERC-721, or NFT) and specifications such as maximum supply and unit price

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1. Recommendations from AI systems

An artificial intelligence system can assess all data regarding cryptocurrencies, trades, prices, volumes, and so on, allowing it to give recommendations for investors based on the makeup of their portfolio and risk profile (i.e., investment horizon).

1. Integration of cold crypto-wallets

When developing your own cryptocurrency exchange fintech software, incorporating cold crypto wallets adds an additional degree of security for your users. This can be accomplished by integrating the wallet into your website or by allowing your users to directly import their private keys into their accounts.

1. Staking functionality for cryptocurrency

This feature enables users who have tokens stored in particular wallets or exchanges (such as Binance Wallet) to earn interest on their assets by participating in PoS mining pools or staking pools for various cryptocurrencies such as DASH, Ethereum Classic (ETC), NEO NEP5 (NEO), and Tron TRX.

1. P2P cryptocurrency trading

This is one of the most sought-after features in the crypto world. It enables users to trade directly with other users rather than through an intermediary, resulting in lower transaction costs and faster execution times.

1. KYT stands for Know Your Transaction.

KYT is a framework for anti-money laundering that allows you to monitor suspicious transactions on your platform and prevent unlawful conduct. This feature is critical for all financial platforms since it prevents scams, fraud, and other illegal actions on your website or app.

Conclusion 

Nowadays building up your own cryptocurrency exchange is not a big deal when you choose the right cryptocurrency exchange development services provider. Breedcoins is a foremost cryptocurrency exchange development company, dedicated to delivering ingenious and customized solutions to help you launch and operate a successful cryptocurrency exchange platform. With years of experience and a passion for blockchain technology, we are committed to helping you stay ahead in the ever-evolving crypto landscape.

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