Know Everything About A White Label Bitcoin Exchange Software

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Know Everything About A White Label Bitcoin
Exchange Software
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Table of Content
Introduction Decide the scope of
operations Assessment of KYC and AML   Payment
service provider Ensuring liquidity Priority
to security Components of cryptocurrency exchange
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Introduction
Cryptocurrencies have become the game changer in
todays world by becoming a highly demanded
digital asset. As more business firms gain
interest in developing customized cryptocurrency
exchange software as per their business
requirements, it is important to follow the
proper process for getting the best
results. Bitcoin is the leader of the
cryptocurrency industry with a high market share.
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Decide the scope of operations
Every firm must decide if it is going to go local
or become global in its operations.
1)
In the initial stages. It is better to restrict
business activities to a particular region or
nation for convenience.
2)
As a business grows in size and scale, it can
cater to international markets.  Every nation
will have its own set of policies and guidelines
regarding licenses and approvals.
3)
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Assessment of KYC and AML
Most of the governments in this world will
require a Cryptocurrency Exchanges to stick to
Know your Customer (KYC) norms KYC refers to the
task by which a business verifies the identity of
its customers through government-issued ID
cards. This is done to prevent incidents of
money laundering where funds of the exchange get
misused for illegal activities.
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Ensuring liquidity on the exchange
No cryptocurrency exchange can operate well
without possessing adequate liquidity. Customers
will be hesitant to invest their hard-earned
money if the exchange does not have a full order
book. There are some ways of sorting out the
liquidity crisis. Some commonly used techniques
are Buying and selling between two artificial
accounts within your own exchange. Developing an
Application Programming Interface (API) which
will connect existing Bitcoin exchanges to other
well-developed crypto exchanges, and all leading
crypto exchanges in the market
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Form a relationship with a Bank or Payment
service provider
A White label cryptocurrency exchange must
collaborate with a financial institution or a
payment solutions provider to process online
payments via fiat currency.
It is a necessity for customers who live in
developing and underdeveloped countries. A smooth
payment gateway will lead to better user
retention, improved convenience, and higher trust
in the system.
Importance must be given towards developing a
robust structure for smooth settlement and
remittances.
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Priority to security
Bitcoins have been stolen and funds have been
swindled.
High importance must be given towards
safeguarding customers data.
A firm must invest in a strong digital
infrastructure for ensuring utmost
confidentiality.
There are many cases where incidents of hacking,
data breach and identity theft have occurred in
cryptocurrency exchanges
Since cryptocurrency exchanges attract a lot of
public attention, exchanges must be in control of
the funds of traders and investors.
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Components of a successful Cryptocurrency
Exchange Software
Wallet
Trade Engine
User Interface
Admin Panel
A wallet is a place where Bitcoins of traders are
stored securely. It requires high-security as a
large amount of funds are involved.
An admin panel acts as a monitor towards the
exchange software.  It helps in effective control
and management of the daily operations.
Every exchange software needs to possess a robust
trade engine which can handle a huge volume of
orders daily.
Aesthetics and speed must be kept in mind while
designing the interface. It should ensure a
seamless and glitch-free trading experience.
Its core functions include alteration of
liquidity based on market movement, analyzing the
spread of cryptocurrencies, fixing the trading
fees
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Let's work together
info_at_infiniteblocktech.com
Email
https//www.infiniteblocktech.com/white-label-cryp
tocurrency-exchange-software
Website
Phone
91 6382 665 366