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This article mainly explains "how to create and develop a Bitcoin / cryptocurrency exchange platform". The content in the article is simple, clear and easy to learn and understand. let's study and learn "how to create and develop a Bitcoin / cryptocurrency exchange platform"!

Is mining profitable?

As mentioned above, Bitcoin is very popular now, so it becomes more difficult to mine Bitcoin. You will need to calculate GPU performance that is simple and unimaginable (CPU is 50 times slower). It is very difficult to get at least one bitcoin these days. In addition, some countries have stepped up their attention to it. There is Bitcoin mining considered illegal business, tax evasion and other issues. Nonetheless, cryptocurrencies are grey areas in most parts of the world and are not yet regulated. But that may change soon.

How to make money on Bitcoin?

If you have an online store, SaaS app, or if you work online and accept money, you can allow your customers to pay in bitcoin. In fact, you can invest in bitcoin in this way. We have heard how the price of Bitcoin fluctuated in the summer of 2017 and doubled in the fall. This is unthinkable! But the price of Bitcoin fluctuates a lot.

Another option to make money on Bitcoin is an online trading platform. It is open and resource-intensive. Let's take a look at the return of the platform owner. The small commission ranges from 0.2% to 3%. It's pretty cheap, right? But let's calculate the daily trading volume.

If the turnover is 100000 US dollars, you will get 200 US dollars. This is only 13 bitcoins of daily turnover. According to Coinmarketcap, the Exmo platform has a daily turnover of US $13996000. Their daily income ranges from $28000 to $420000 of commission! Isn't that awesome? To understand e-commerce trends, this may be a more practical alternative to making money in 2018.

How do I start a bitcoin transaction?

What is your target market? According to national, state and state laws, you must have certain authority. The easiest way is to work in countries that officially allow bitcoin as a means of payment, perhaps Estonia or even Malta (where Pennsylvania Mobile is already registered). Belarus has legalized cryptocurrency, and only time will show how it affects the industry. Australia offers the opportunity to pay bills (including utility) through Bitcoin.

Iceland and France are notoriously low in electricity costs, so mining costs are extremely low. Venezuela and other countries in South America, as well as some states in the United States, are also welcomed by encryption miners. Therefore, the first step is to choose a country or state that has friendly jurisdiction over the cryptocurrency. The place of registration of a company is very important for accepting legal tender.

Cryptocurrency list

The obvious but important point. The more currencies you provide to your users and the more audience you reach, the more interested you will be in the cryptocurrency exchange platform. Contrary to many misconceptions, cryptocurrencies are no more difficult to maintain. But first, we need to integrate them, and the process will take some time.

But you should keep in mind that every cryptocurrency, such as Ripple,Litecoin, Ethernet Square, Dash,Dogecoin, etc., needs to be manually integrated. Or you can create your own cryptocurrency and start ICO. Companies like Binance,Exmo and many other exchanges have chosen this proven approach. They use coin as an internal circulation to offer discounts. This is a safe policy. Users get discounts and exchanges to increase the number of coin.

How to construct Bitcoin online transaction platform cryptocurrency transaction platform

Preparation and planning are really important stages of Web development before starting almost anything, whether it's an exchange platform, a SaaS platform, or a business website. Let's take a look at the features that must be available in cryptocurrency exchange to meet the needs of customers and owners.

Main features:

1. Flexible customization and extension.

two。 It's clear.

3. Easy to manage.

4. The delay time of the user is very short.

Moreover, each platform consists of separate modules, the so-called layers. Any one of these functions depends independently on the received data and the switching interface. For example, the cash flow engine, services for user processes, server-side, and integration with UI (user interface). API and request connections between layers. Typically, each of them is located on a separate device or server.

The most important thing is obviously the platform itself, the server side. With this, you can easily extend your business to Web applications, desktop applications, mobile applications, etc. Of course, the first thing you have to choose is a mobile app or a website?

Safety and protection

First of all, let's find out the common problems, vulnerabilities and problems that you may encounter in system security.

1. Unauthorized access to the administrator account (hacker).

two。 Violation of access to the server.

3. The process of hooliganism caused by privilege.

4. The security of the external platform.

User storage. The first is personal data security, and access to the system must be strictly managed. The popular tools for protecting this layer are:

1. Use secure and protected libraries and frameworks.

two。 Use the Google password for two-factor authentication.

3. Request documents (KYC and AML) from the user. This item mainly involves the exchange of cryptocurrency and FIAT pairs, and vice versa. There is no need to upload the document of the cryptocurrency to the cryptocurrency pair now. In most cases, all you need is an international passport, driver's license or ID card, as well as bank statements or utility bills for level 2 verification.

4. The administrator manually confirms a large number of transactions and large transactions. Cold wallets are optional and are highly recommended.

Administrator privileges, whether it's cryptocurrency exchanges built using blockchain technology, or anything else in the mobile application development trend. Any trading platform needs an administrator. To protect yourself and your system, check the following list:

1. Distinguish between administrator responsibilities and privileges; create additional groups and roles. Each person manages only a small part of him, and has no access to more.

two。 Team solution. Administrators from different groups must identify particularly important features.

3. There are at least two different areas of development and production. Restrict access to each group. Manual database transfer, controlled by executive, CTO.

Malicious process. Caused by malware caused by an intruder.

DDoS attack requests must pass through some servers and be cleaned up for the final project.

two。 Firewall loophole. They are easy to solve-by a professional system administrator or a great host. If your government allows hosting platforms in the cloud, AWS may be the best solution. Otherwise, you must carefully look at dedicated servers with load balancing.

3. Authorization and protected access. 2FA is mandatory, whether you choose Google authenticator or SMS, or both. If you decide to establish a decentralized cryptocurrency exchange, you can forget about this project.

4. Notification from the administrator about suspicious activities. Then, you and your team must understand and keep abreast of the current stage.

Technical problems. Things can be bad, such as software problems or hardware damage. All content should be monitored and plan B should be made, as well as backup in a safe place.

1. Calculate changes, swaps, and transaction transactions, and return to action if there is a problem.

two。 Verification of the sum.

3. Make regular backups.

4. Available user log files.

5. Administrative notice in case of insufficient activities.

How to establish an online trading platform for bitcoin and other cryptocurrencies

Most importantly, if a failure occurs, you should respond as soon as possible; you will usually be notified. As a result, based on cooperation with Eastern European companies, the cost of supporting such projects ranges from $200 to $2000 per month. If you work with companies from Central Europe, the UK or the United States, you can safely multiply this cost by 3-5 times, depending on the company. In any case, it is important to know how to choose a web designer. If you consider a quick launch, you may be interested in our cryptocurrency transactions.

How much does it cost to build an encrypted currency exchange platform?

Unlike personal websites, trading currency exchange is a complex project. The team shall consist of the following:

1. Project manager for 2-3 months. Responsible for team work, discussion, communication between team and customer and actual project management.

two。 Quality Assurance engineer for 2-3 months. Test all possible scenarios and vulnerabilities.

3. Designer for 1 month. Design the interface and create a relationship between the user and the cryptocurrency platform.

UI developers for 2-3 months.

2-3 platform developers for 2-3 months.

* this time range applies only to highly skilled teams that already have experience and examples. Otherwise, you can double the time.

The development of cryptocurrency platforms requires knowledge and skills, such as blockchain development. First of all, it is necessary to consider high load and high level of security.

Conclusion: the initial cost of developing an encrypted exchange is $14000, working with an agent in Eastern Europe and about 2-6 weeks within the time frame. We already have the core and are ready to deploy it in the short term. If you prefer to work with a team from Central Europe, the United States or the United Kingdom, be prepared to pay 22 times the cost for the same team, about $320000.

Bitcoin is one of the most desirable currencies for venture capitalists, hedge funds, Internet entrepreneurs and almost everyone else. The encrypted exchange Exmo received an additional 2.11% of traffic and now has a strong position. Trading platforms in almost every country have a place in the top 1000 websites. Obviously, it's not over yet. Financial analysis predicts future Bitcoin growth.

Are cryptocurrency fluctuations good for you?

The cryptographic currency market is very volatile, and the encrypted exchange rate varies greatly, affecting almost any news. If something related to Bitcoin affects it, make sure that the same news will affect Ripple (XRP) or even NEO or Stellar lumens (XLM). Okay? It depends on your character. It provides growth opportunities for traders and increases daily trading volume for cryptocurrency trading platforms. Nevertheless, only long-term investments may fail. Even if you want to use the platform, you can customize and build a platform on the Bitcoin exchange script. Your choice must depend only on your specific and specific business needs.

If you have an encrypted exchange platform, you can get transactions between users regardless of the bitcoin ratio. This should be a good model for a successful enterprise.

Thank you for your reading. the above is the content of "how to create and develop a Bitcoin / cryptocurrency exchange platform". After the study of this article, I believe you have a deeper understanding of how to create and develop a bitcoin / cryptocurrency exchange platform, and the specific use needs to be verified in practice. Here is, the editor will push for you more related knowledge points of the article, welcome to follow!

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