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A bitcoin exchange can be set up right away in a market by following some basic steps. Every company must decide whether it wants to launch a Centralized or Decentralized exchange.
Some of the important steps to be considered are
The type of cryptocurrencies to be listed on the platform. Most exchanges allow the issue of Bitcoin. The availability of more coins shoots up the cost.
Hot and cold storage wallets embedded with multi-signature facilities. This is important for the storage of user’s coins.
High-level security features such as two-factor authentication, protection against DDOS to curb incidents of hacking, identity theft, and data breach.
Presence of adequate liquidity in the exchange for order management and regulating trade activity.
Marketing your platform through well-curated campaigns by networking with other established exchanges.
24x7 technical support in multiple languages to clear user’s queries fluently.
Teaming up with a payment processor for handling transactions between buyers and sellers.
Implementation of the above measures can help a firm to start a Bitcoin exchange quickly.
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