If you are reading this blog, then you might perhaps be interested in create own cryptocurrency exchange. If so, then here I am going to give you some tips and tricks on what are all the aspects that you need to know about building an effective crypto exchange of your choice.
Steps to be considered for cryptocurrency trading platform development:
create own cryptocurrency exchange involves the following steps to be taken care off:
Compliance with the regulatory laws: Once you have come across a decision to start your own crypto exchange, the first thing you need to focus on is that whether your exchange is going to be in place with the necessary compliance standards. Because a highly compliant exchange only will hold the capacity to operate smoothly in the market and this is how the overall operational scope of your exchange can be defined.
It is no matter that whether you make your exchange operate to a confined location or globally, getting out the necessary approvals and licenses is somewhat vital to go with. The laws might be location specific and they vary with respect to the location that you choose for your exchange to operate. In order to be clear with the laws respective to your business location, you may need a legal regulatory consultant who can guide you on the same.
Discover the ways to ensure the safety of your exchange: When it comes to any type of cryptocurrency exchange, security is of utmost importance and that is what this step is all about. Yes! Failing to adhere to the safety measures might take your exchange operations down with a lot of pitfalls and threats. So, it is always advisable to incorporate the governmental exchange security procedures like KYC (Know your customer) and AML (Anti-money laundering). KYC can help you verify your customer identities and AML allows you to avoid unethical money laundering activities that might probably happen in the system.
Integrate payment processors to the exchange: Payments involve a vital part in the arena of trading and transaction processor. Particularly when it comes to a cryptocurrency exchange, there is no more except that we need a payment processor to get done with processing the payment transactions at the right time with no delays. We can either choose out a bank or some other payment processor as per your choice and convenience. In case, if you go out for the selection of a bank for your business transactions, then you need to make sure that the chosen bank is trustworthy and it has the option of hosting online facilities for the end-users. Because cryptocurrency exchange traders nowadays are very much interested in initiating instant banking transactions online to ensure comfort and to save their valuable time. In addition, while choosing a bank, you need to keep in mind that it has the fast clearance for the settlement of funds to be made in a faster manner.
Liquidity boosting: Liquidity is one of the primary factors that decide the cash flow of any cryptocurrency exchange and here is where the overall efficiencies and profit rates lie in. Liquidity decides the successful operation of the exchange. In general, it is obvious that the newly launched exchanges will have some extent of liquidity issues and this could be sorted out in the following ways:
Enhancement of trading activities done in the exchange between the buyers and the sellers.
Integration of liquidity API to the exchange can help boost up the liquidity rates of the exchange much better than ever.
Creation of a huge network via connecting the exchange to some other popular exchanges in the market thus coming out with a large network. The higher the network size, then the greater would be the liquidity.
Security improvements: Boosting up the security levels of the exchange is one efficient way to make it move forward to the next level of advancement. Yes! The traders of the exchange will always feel good when they know that their funds are kept safe in the exchange and their overall trading processes remain secure. By the way, they can get rid of the potential security threats or unethical security hacks that are possible within the system. We might have noticed that some exchanges were prone to security breaches of various levels which incurred some losses. But maintaining high-end security can help overcome all those at an optimal level without fail. Do you have any idea on how to maintain such high-grade security for exchange trading transactions? If not, then consider KYC and AML. KYC (Know your customer) ensures security by verifying the customer identities and AML (Anti-money laundering) on the other side ensures security by addressing the challenges of anti-money launders by third parties. So on the whole, in order for you to make the exchange highly successful, security must be your top priority over any others.
Customer support channels for operational compliance: Customer support is needed certainly for an exchange to get approvals right for KYC requests being raised from the customers’ side, Currency deposits and withdrawals, and solving out the customers’ queries and complaints, and so on. A swift response to the users in the form of customer support always mandates to go beyond the expectations of your customer community and to achieve customer satisfaction to the fullest.
Major components to create own cryptocurrency exchange:
create own cryptocurrency exchangeThe overall architecture of a cryptocurrency exchange software constitutes the following components operating together:
Matching engine: It is the one that is responsible for trades to happen in any exchange platform and hence considered as the core of the exchange and its trading operations. It helps the users in making trade orders within the exchange by facilitating order book accesses, trade order matches for buy and sell orders, transaction processing, and balance calculations. There is no exchange possible without a trade matching engine. Hence it needs to be designed with utmost care to avoid any discrepancies in the system. Before going to set up the exchange, you have to make sure that you have a perfectly working trade matching engine to carry out all your exchange trading operations at ease.
UI: The user interface is the entry gateway for the users to get initiated with the required trades in the platform. It forms the front-end of any exchange and it provides a clear view to the users on how the exchange will look like. Hence it needs to be very much appealing, intuitive, and user-friendly. The mobile-friendly compatibility of the user interface can help enlarge the user base of your exchange as there is an increased amount of smartphone usages found these days among the user community. A custom mobile app with a highly intuitive UI can pave way for better trading engagements within the exchange.
Wallet: It is a storage medium with which the users can keep storing their cryptocurrency assets online in a safe way. As the wallets are highly connected to the asset funding part of any exchange, they need to be much more secure to avoid unnecessary hacks. Maximizing the wallet security can obviously help to diversify risk mitigation.
Basically, create own cryptocurrency exchange wallets are of two types listed as follows:
Admin panel: It is the business management software wherein a lot of the exchange management activities are to be done. It gives us the operator control to help manage the business operations successfully with no hassles.
Shamla tech – the one-stop destination for your cryptocurrency trading software development:
There are two ways with which you can develop your own cryptocurrency exchange trading platform. Either you can make it by building the exchange software in-house or by going out for some free or open-source exchange scripts. Besides, we are here to support you with another potential option that can help you get into your exchange development instantly on the go with ease and which is none other than the white-label exchange software. Yes! Our white label exchange solutions are tested cum proven models with customization options to go forward with your exchange development needs perfectly beyond your expectations.
Install via pip:
$ pip install pytumblr
Install from source:
$ git clone https://github.com/tumblr/pytumblr.git $ cd pytumblr $ python setup.py install
pytumblr.TumblrRestClient is the object you'll make all of your calls to the Tumblr API through. Creating one is this easy:
client = pytumblr.TumblrRestClient( '<consumer_key>', '<consumer_secret>', '<oauth_token>', '<oauth_secret>', ) client.info() # Grabs the current user information
Two easy ways to get your credentials to are:
interactive_console.pytool (if you already have a consumer key & secret)
client.info() # get information about the authenticating user client.dashboard() # get the dashboard for the authenticating user client.likes() # get the likes for the authenticating user client.following() # get the blogs followed by the authenticating user client.follow('codingjester.tumblr.com') # follow a blog client.unfollow('codingjester.tumblr.com') # unfollow a blog client.like(id, reblogkey) # like a post client.unlike(id, reblogkey) # unlike a post
client.blog_info(blogName) # get information about a blog client.posts(blogName, **params) # get posts for a blog client.avatar(blogName) # get the avatar for a blog client.blog_likes(blogName) # get the likes on a blog client.followers(blogName) # get the followers of a blog client.blog_following(blogName) # get the publicly exposed blogs that [blogName] follows client.queue(blogName) # get the queue for a given blog client.submission(blogName) # get the submissions for a given blog
PyTumblr lets you create all of the various types that Tumblr supports. When using these types there are a few defaults that are able to be used with any post type.
The default supported types are described below.
We'll show examples throughout of these default examples while showcasing all the specific post types.
Creating a photo post
Creating a photo post supports a bunch of different options plus the described default options * caption - a string, the user supplied caption * link - a string, the "click-through" url for the photo * source - a string, the url for the photo you want to use (use this or the data parameter) * data - a list or string, a list of filepaths or a single file path for multipart file upload
#Creates a photo post using a source URL client.create_photo(blogName, state="published", tags=["testing", "ok"], source="https://68.media.tumblr.com/b965fbb2e501610a29d80ffb6fb3e1ad/tumblr_n55vdeTse11rn1906o1_500.jpg") #Creates a photo post using a local filepath client.create_photo(blogName, state="queue", tags=["testing", "ok"], tweet="Woah this is an incredible sweet post [URL]", data="/Users/johnb/path/to/my/image.jpg") #Creates a photoset post using several local filepaths client.create_photo(blogName, state="draft", tags=["jb is cool"], format="markdown", data=["/Users/johnb/path/to/my/image.jpg", "/Users/johnb/Pictures/kittens.jpg"], caption="## Mega sweet kittens")
Creating a text post
Creating a text post supports the same options as default and just a two other parameters * title - a string, the optional title for the post. Supports markdown or html * body - a string, the body of the of the post. Supports markdown or html
#Creating a text post client.create_text(blogName, state="published", slug="testing-text-posts", title="Testing", body="testing1 2 3 4")
Creating a quote post
Creating a quote post supports the same options as default and two other parameter * quote - a string, the full text of the qote. Supports markdown or html * source - a string, the cited source. HTML supported
#Creating a quote post client.create_quote(blogName, state="queue", quote="I am the Walrus", source="Ringo")
Creating a link post
#Create a link post client.create_link(blogName, title="I like to search things, you should too.", url="https://duckduckgo.com", description="Search is pretty cool when a duck does it.")
Creating a chat post
Creating a chat post supports the same options as default and two other parameters * title - a string, the title of the chat post * conversation - a string, the text of the conversation/chat, with diablog labels (no html)
#Create a chat post chat = """John: Testing can be fun! Renee: Testing is tedious and so are you. John: Aw. """ client.create_chat(blogName, title="Renee just doesn't understand.", conversation=chat, tags=["renee", "testing"])
Creating an audio post
Creating an audio post allows for all default options and a has 3 other parameters. The only thing to keep in mind while dealing with audio posts is to make sure that you use the external_url parameter or data. You cannot use both at the same time. * caption - a string, the caption for your post * external_url - a string, the url of the site that hosts the audio file * data - a string, the filepath of the audio file you want to upload to Tumblr
#Creating an audio file client.create_audio(blogName, caption="Rock out.", data="/Users/johnb/Music/my/new/sweet/album.mp3") #lets use soundcloud! client.create_audio(blogName, caption="Mega rock out.", external_url="https://soundcloud.com/skrillex/sets/recess")
Creating a video post
Creating a video post allows for all default options and has three other options. Like the other post types, it has some restrictions. You cannot use the embed and data parameters at the same time. * caption - a string, the caption for your post * embed - a string, the HTML embed code for the video * data - a string, the path of the file you want to upload
#Creating an upload from YouTube client.create_video(blogName, caption="Jon Snow. Mega ridiculous sword.", embed="http://www.youtube.com/watch?v=40pUYLacrj4") #Creating a video post from local file client.create_video(blogName, caption="testing", data="/Users/johnb/testing/ok/blah.mov")
Editing a post
Updating a post requires you knowing what type a post you're updating. You'll be able to supply to the post any of the options given above for updates.
client.edit_post(blogName, id=post_id, type="text", title="Updated") client.edit_post(blogName, id=post_id, type="photo", data="/Users/johnb/mega/awesome.jpg")
Reblogging a Post
Reblogging a post just requires knowing the post id and the reblog key, which is supplied in the JSON of any post object.
client.reblog(blogName, id=125356, reblog_key="reblog_key")
Deleting a post
Deleting just requires that you own the post and have the post id
client.delete_post(blogName, 123456) # Deletes your post :(
A note on tags: When passing tags, as params, please pass them as a list (not a comma-separated string):
client.create_text(blogName, tags=['hello', 'world'], ...)
Getting notes for a post
In order to get the notes for a post, you need to have the post id and the blog that it is on.
data = client.notes(blogName, id='123456')
The results include a timestamp you can use to make future calls.
data = client.notes(blogName, id='123456', before_timestamp=data["_links"]["next"]["query_params"]["before_timestamp"])
# get posts with a given tag client.tagged(tag, **params)
This client comes with a nice interactive console to run you through the OAuth process, grab your tokens (and store them for future use).
pyyaml installed to run it, but then it's just:
$ python interactive-console.py
and away you go! Tokens are stored in
~/.tumblr and are also shared by other Tumblr API clients like the Ruby client.
The tests (and coverage reports) are run with nose, like this:
python setup.py test
Source Code: https://github.com/tumblr/pytumblr
License: Apache-2.0 license
Creating their own cryptocurrency exchange has become a common phenomenon among entrepreneurs in the cryptosphere in recent years. Cryptocurrency exchanges are the main driving force behind the crypto market volume growth over the past decade, and they have provided lucrative opportunities for many entrepreneurs around the world. Many entrepreneurs have become millionaires by launching their own cryptocurrency exchange, which is why the demand and competition around crypto exchanges have drastically increased in the last few years.
Even though starting your own cryptocurrency exchange is lucrative, there are also many challenges involved in the cryptocurrency exchange development process. Especially in this intensely competitive scenario, every aspect of your cryptocurrency exchange development plays a crucial role in determining the success and visibility of your exchange over your competitors. To ensure long-term sustainability and success for your exchange, it is essential that you identify the pain points involved with crypto exchange development, and learn how to convert the odds into your favor. So, let’s go ahead and take a look at some of the significant challenges involved in developing an exchange from scratch, and solutions that will help to overcome them.
Read More @ https://bit.ly/3vpK64S
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It is learnt that a **Cryptocurrency exchange **or DCE short for digital currency exchange is a popular service/platform that enables clients to trade cryptocurrencies for other resources, such as other cryptocurrencies, standard FIAT cash or other digital currencies.
Primarily they allow trading one cryptocurrency for another, the buying and selling of coins, and exchanging FIAT into crypto. There are different crypto exchanges may have different options and features. Generally some are made for traders and others for fast cryptocurrency exchanges.
Do you want to know how do exchanges set their prices?
Mostly there is a common misconception is that exchanges set prices. However, this is not true. There’s no official, global price. The exchange rate of a cryptocurrency generally depends on the actions of sellers and buyers, although other factors can affect the price. Moreover the prices vary depending on the activity of buying and selling on each of these exchanges.
In addition each exchange calculates the price based on its trading volume, as well as the supply and demand of its users. This means that the higher the exchange, the more market-relevant prices you get. Actually there is no stable or fair price for Bitcoin or any other coin - the market always sets it.
Do you know how crypto exchanges make money?
Amazingly the exchanges make profit from different revenue streams, most popular four are: commissions, listing fees, market making, and fund collection for IEOs, STOs and ICOs.
Popular Commission - trading fees
The most familiar way to monetize exchanges cryptocurrency and traditional exchanges is to charge commissions in the market. Actually this commission pays for the trade facilitation service between the buyer and the seller. The commissions can be as low as 0,1% per transaction and due to low trading cost bring in high trading volume.
Quality Listing Fees
Due to heavy competition, the newly created exchanges struggle with low volume during their early stages and therefore need another source of revenue. Also many exchanges opt for token and coin listing services to drive revenues. By organizing Initial Exchange Offerings (IEOs), Security Token Offerings (STOs), and Initial Coin Offerings (ICOs), exchanges might professionally collect a percentage of funds raised from these offerings.
Which is the best Cryptocurrency exchange software development company?
Without any doubt the **Hashogen Technologies **is a popular motivated cryptocurrency exchange software development company with a team of skilful resources. Their key motto of us is to offer technology-driven services at an affordable cost without compromising the quality. One can also witness quality Bitcoin Exchange Script, Cryptocurrency Exchange script and Cryptocurrency exchange software from Hashogen Technologies.
Demo links: http://exchange.consummo.com/
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Contact Us Whatsapp: +91 9551963333
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The cross-functional and cohesive team of Antier Solutions incorporates a technology-agnostic approach and modern agile methodology to deliver cryptocurrency exchange platform development services. The company emphasizes on diligent integration of world-class features in terms of security, UI/UX, functionality, and scalability on a single platform to deliver meaningful outcomes that provide an essential competitive edge. Our profound team of blockchain experts aligns forward-thinking solutions with a coherent roadmap to accelerate deployment. Antier fortifies crypto exchange development with its top-notch marketing techniques to nurture your venture and prepare it for long-term success.
For more information, call us: +91 98550 78699 (India), +1 (315) 825 4466 (US)
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In recent years, cryptocurrency exchanges have experienced an incredible spike in trading volume. Digital currencies play a vital role in the crypto industries right now. The number of cryptocurrency users is increasing in cryptocurrency exchange platforms day by day. So many business people, startups, and entrepreneurs are interested to start their own cryptocurrency exchange platform.
Developing a cryptocurrency exchange platform from scratch takes a longer time. And also the cost of crypto exchange development will also be so high. The smartest way to start a cryptocurrency exchange platform with less development cost is using the best White label cryptocurrency exchange software to quickly start your cryptocurrency exchange based on your business needs.
Why do people Choose White Label Cryptocurrency Exchange Software?
Most of the startups and business people prefer the White Label Cryptocurrency Exchange Software for their business compared to developing from scratch. Using this software to you can start your cryptocurrency exchange business instantly.
White Label Cryptocurrency Exchange Software is a website software in which you can customize the trading features based on your business requirements. Starting a Cryptocurrency Exchange Platform with white label cryptocurrency exchange software you can get a huge profit through this exchange platform within few months.
Benefits of White Label Cryptocurrency Exchange Software
-> You can easily modify the theme, logo, brand name, and other designs based on your business needs.
-> Smooth Customization
-> You can save your time and money on developing your own cryptocurrency exchange platform compared to developing from scratch.
-> According to the current digital trends to you can custom the design to attract more crypto traders worldwide.
-> Mobile-friendly interface.
Where to get the best white label Cryptocurrency Exchange Software?
At BlockchainAppsDeveloper, you can get the finest White Label Cryptocurrency Exchange Software to stand out unique from others. BlockchainAppsDeveloper is one of the top cryptocurrency exchange platform development company, having years of experience in the field of cryptocurrency exchange. We develop and delivers world-class cryptocurrency exchange software solutions at an affordable price.
Here are some of the features of cryptocurrency exchange software which you can integrate with the cryptocurrency exchange platform development:
->> Atomic swaps
->> Escrow services
->> Trading bot
->> Multicurrency Pairing
->> Virtual Crypto Wallet
->> Crypto Wallet Integration
->> Unlimited ERC 20 Tokens
->> Payment gateway Integration
->> Margin Trading & Lending
->> Matching Engine
Need to know more about our White Label Cryptocurrency Exchange Software?
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