Over the past several years, many companies changed the way they operate to online business, including the financial industry. The demand to sell, buy and trade digital assets has shown tremendous growth. The reason why digital assets gained popularity can be explained by their exceptional profitability compared to other businesses. Digital assets can appear in the form of exclusive tokens that comprise loyalty points, stocks, bonds, securities, financial instruments or digital currencies, for instance Bitcoin, Ethereum etc. Collectively, these assets make a separate trading ecosystem that becomes more and more popular among both institutional investors and individuals. The possibility to get into this lucrative industry is closer than ever – you can build your own digital asset exchange platform and start making money in no time. This can be done through digital asset exchange software that be adjusted to your own needs.
Let us have a closer look at what a digital asset exchange software is.
Digital asset exchange software is a computer application, which has been coded to generate an exchange website. The website focuses on exchanging digital assets, including but not limited to Bitcoin, Ethereum, XRP etc. The software already contains the required trading features from an exchange portal. The enhanced software has customisable features that enables building a unique digital asset exchange platform tailored to your requirements. Having this flexibility, the platform allows adding cryptocurrencies and currency pairs following the market demand.
In simple terms for a digital asset exchange platform to be successful, it needs to be secure, intuitive and high performance. It should allow easily acquire and retain users as well as contribute towards positive users’ experience.
In technical terms, a successful digital asset exchange software should contain the following components:
Fast matching engine – to match up bids and complete trading operations
High security – to ensure safety of transactions
Broad customisation – to provide flexibility and minimise issues
Uptime guarantee – to ensure smooth performance
Modular design – to allow better reusability and workload handling
Multi-currencies and cryptocurrencies integrated to wallet support – to broad transaction activities as and when needed
Advanced commands of operating tools – to optimise operations
Multiple currency pairing – to enable multi-currency transactions
Remarketing liquidity – to strategically access users and increase their activity on the platform
Financial controls and integrations – to ensure the accuracy and protect the resources.
Before you start building a digital asset exchange platform, you need to familiarise yourself with types of cryptocurrencies, trading specifics, general workflow of trading websites, bottlenecks of exchange platforms that already exist in the market, security measures and current trading features.
In order to build a digital asset exchange platform that stands out, you need to do a preparation work before you can have your ideas brought to life.
The following checklist may serve you as a guidance to get an idea of what stages it takes to create a unique product.
1) Define your business requirements.
2) Search for best service providers.
3) Perform a comparison between these service providers.
4) Shortlist the best provider/providers and make an in-depth research about them.
5) Ask them to send you a demo and pricing.
6) Find out about the security features and customisation opportunities.
7) Double check the software meets your business requirements.
8) Make a service agreement with the provider once you are satisfied.
9) Purchase the software and get the provider to customise it as per your needs.
10) Launch your very own digital asset exchange platform.
While defining your business requirements is an essential part of building a digital asset exchange platform, finding the right company to implement your ideas is just as important.
Here at Fintatech, we have over 10 years of experience in the financial software development industry, including creating unique platforms for exchanging digital assets. We provide features and competencies that differentiate us from the other market players. We are particularly proud of our team of professionals who are able not only to provide the best solution to meet your particular business goals, but also fit the budget without compromising on the quality of your product.
Using modern technologies, we make our digital asset exchange platforms stay relevant, updated and provide full support even after the platform has been launched. We can help you get your product deployed within weeks instead of months. Our ready-to-use trading solutions can be easily integrated with any broker ecosystem and data source. You can choose between time-and-material or fixed pricing models according to your needs and resources available.
A solid track record of successfully built digital asset exchange platforms of various scope and levels of complexity is how we guarantee our commitment to every project. The products we build can be customised or built entirely from scratch – all to see our customers satisfied. Get in touch with us to discuss your ideas and see how Fintatech may become your reliable service provider.