Cryptocurrency has unexpectedly paved the way for a decentralized system of banking which was not having control of the government or any financial institution. This virtual currency is the major reason for the demand for crypto exchange development companies.
Bitcoin was the first cryptocurrency developed in the year 2009. At the time when this virtual currency was introduced in the market, many people claimed that this type of currency is not under the control of any authority or institution and will never become a success in the long run.
However, all the claims went wrong and cryptocurrency has seen massive and shooting growth. This growth can be analyzed by the fact that at present there are more than 9000 cryptocurrencies at the global level. These virtual currencies are getting accepted by different businesses as a mode of payment similar to fiat currency on daily basis in various industries.
As the crypto market is developing at a rapid pace, the number of crypto traders are getting increased. Due to this many entrepreneurs are looking to develop a crypto exchange platform. There are innumerable crypto exchange development companies in the market however, finding the best one is a really difficult task.
This blog is written to explore the types of crypto exchange platforms and to recommend the best crypto exchange development company in India.
What is Crypto Exchange Platforms?
Crypto exchanges are the digital platform developed on any blockchain network such as Binance, Coinbase, etc. where the purchasing, selling, or exchanging of cryptocurrencies takes place.
Cryptocurrency exchanges are privately held digital platforms that allow users to trade cryptocurrencies for other crypto assets such as digital and fiat currencies and NFTs.
Types of Crypto Exchange Platforms
There are majorly two types of crypto exchange platforms that you can get developed through an efficient crypto exchange development company.
Centralized Crypto Exchange Platform
Centralized cryptocurrency exchanges profit from commissions and transaction fees by acting as an intermediary between a buyer and a seller. A CEX is analogous to a stock exchange in that it trades digital assets.
Binance, Coinbase Exchange, Kraken, and KuCoin are some of the most popular cryptocurrency exchanges. These exchanges, similar to stock trading websites or applications, allow cryptocurrency investors to buy and sell digital assets at the current price, known as spot, or to leave orders that are executed when the asset reaches the investor’s preferred price objective, known as limit orders.
Decentralized Crypto Exchange Platform
A decentralized exchange is another type of digital exchange platform that allows peer-to-peer transactions directly from your digital wallet without going through an intermediary. Examples of DEXs include Uniswap, PancakeSwap, dYdX, and Kyber.
These decentralized exchanges rely on smart contracts, self-executing pieces of code on a blockchain. These smart contract development allow for more privacy and less transaction costs than a centralized cryptocurrency exchange.
On the other hand, even though smart contracts are rules-based, the lack of an intermediary third party means that the user is left to their own, so DEXs are meant for sophisticated investors.
Factors to Consider While Choosing a Crypto Exchange Development Company
There are various significant factors that you should consider while choosing a crypto exchange developer for your business. Below is a list of things that should not be ignored while hiring an exchange development agency to attain a competitive advantage in the market:
- The experience & expertise in the blockchain industry.
- Professional and educational qualifications of blockchain developers.
- Satisfaction level and feedback of previously served clients.
- The geographical location in which the company is offering its services.
- Cost-factor should be considered as you should hire a company that is offering crypto exchange development services in your budget.
Why Hire Coin Developer India as Your Crypto Exchange Development Company?
Coin Developer India can be referred to as the top crypto exchange development company as it fulfills all the above-mentioned criteria. This blockchain development company is offering its services at the global level which means you can hire them to develop your crypto exchange platform by sitting in any part of the world.
Their team of experienced and skilled blockchain developers is pro in offering customized crypto exchange development services. The digital platform developed by them will be highly secured and incorporated with advanced functionalities. Hiring them as your crypto exchange developer will help you in getting a competitive advantage in the market. Coin Developer India is known for providing cost-efficient services and they deliver projects on time so that your business operations do not get delayed.
Visit their website to connect with their developers and schedule a free demo of a white-label crypto exchange platform.
Connect with us at +91 7240607737