Cryptocurrency Exchange Platform:
A cryptocurrency exchange platform is a digital marketplace where traders can buy and sell cryptocurrencies using different fiat currencies. A cryptocurency/bitcoin currency exchange is an online platform that acts as a medium between buyers and sellers of the cryptocurrency.
Setup Process :
Plan where to Start:
Decide where you want to run your cryptocurrency trading business,Are you going to run internationally or fix yourself to a specified area.Laws and regulations change from place to place.So,consult with legal expert regarding the licensing and compliance with local laws and regulations.
Learn the laws:
Review and learn all the regulations and compliance in the area where you are starting your exchange business.Almost all governments require entities which are involved in the currency exchange business to the Know Your Customer (KYC) norms. KYC is the process by which a business verifies the identity of its customers through government issued ID cards or passports. KYC is mainly carried out to reduce money laundering.
Make Partnership with Banks:
Make partnership with Banks or payment processor for fiat currency payment process.Choose a trustworthy bank among all the banks.
Increase Liquidity:
Every exchange needs high volume of activity in market to run successfully.Startup Exchanges always face liquidity issues.Customers will constantly increase only in high liquidity exchanges.
Provide Security:
Ensure high-grade security for both exchange operator’s and trader’s funds.A good exchange should provide a secure transaction details,KYC and customer’s private details like bank account details,etc.,.
Enhance Customer’s Support:
Providing 24 X 7 customer’s support team to process on KYC details,customer’s complaints,transaction details,deposit and withdrawal of fiat currency.Customer support can make your user engage on your exchange and also increase more customers.
Bitdeal helps you building a best cryptocurrency trading platform.They provide you a unique cryptocurrency exchange script to setup your online cryptocurrency exchange with all time customer support .
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Steps to setup crypto exchange platform
3.05 GEEK