To start your cryptocurrency platform, it is very important to know the basics and prerequisites. There are two types of people working on this platform: user and administrator. Users can log into cryptocurrency exchange platforms and exchange their cryptocurrencies or exchanges.
Users get a wallet in which they can store currency and withdraw it if necessary. The other users are administrators. They control and run the business and have experience with the app and its security. The administrator manages the client, its safety, and other settings.
Cryptocurrency exchange platforms and blockchain development companies offer many features. They promote user security and prevent theft or any tampering with user data or digital assets.
Sign In / Sign Up
No user can exchange cryptocurrency without creating an account on the platform or, say, an app. The login facilities are well-developed and meet the highest form of security. This feature prevents unauthorized logins, hacking or other types of manipulation and hacking of the app.
KYC means “know your customer”. Every user undergoes a thorough background check. KYC verification ensures security for the user who registers for the cryptocurrency exchange.
AML is short for anti-money laundering. After KYC verification, the exchange checks the AML, which provides protection for the digital assets on the server. It also provides transparency of money laundering trades.
Cryptocurrency exchange platforms offer users digital wallets in which they can store their assets. This feature can also be used when withdrawing assets for trading. The deposit or withdrawal limit will be set according to the AML check.
Transaction Control Panel
The transaction control panel is an integral part of the cryptocurrency exchange platform. It stores all transaction history. Development services often maintain this object. This ensures continuous protection and accountability of records. The LetsExchange for partners offering provides for this.
The exchange administrator analyzes and monitors trades. To do this, he uses the functions of trade analytics. They create charts and graphs of completed trades. This also helps in the future forecasting of transactions and exchanges.
The admin panel helps the administrator keep track of each trader’s transactions and trades. The admin panel gives the ability to edit the site and add features that can help users.
Cryptocurrency exchange platforms are protected by encryption. The encryption keys are on dedicated servers that are secure and safe.
As you can see, it takes a huge amount of time and investment to develop and run such a platform. Choosing white label cryptocurrency exchange software will help you to reduce the development costs.
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