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Challenges in building a Bitcoin Exchange

Starting a business is not easy a task. But, when it comes to the exchange website its take period of time to develop the website

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Challenges in building a Bitcoin Exchange

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  1. It’s not too easy to start a bitcoin exchange with only having the programming experts, website designers, and domain experts. It needs a little more than you think. Many of you have failed and some of them have succeeded in developing that. But what we wanted to say is “you need to overview these challenges before developing a secure bitcoin exchange platform”.

  2. 1.Security If you begin a trader, then what will be your expectation? Of course, It is security. Because security is the foremost word in all business sector. We had found out many exchanges security breaches like Mt.Gox, Bitfloor, Poloniex which took part in history. However, protecting your exchanges from attacks like DDOS should be the necessary one. Here are some features to prevent your exchange site from hackers.

  3. Two-factor authentication The 2FA adds another level of security to your trading account. It helps to make sure that cybercriminals are not able to log in to your account even if they have access to the account’s credentials. AML/KYC Anti-Money Laundering (AML) and Know Your Customer (KYC) regulationsare used to identify individuals carrying out Bitcoin transactions.

  4. 2.Liquidity The successful exchange platform stories begin with liquidity without an order book and trading activity, potential customers will not come to your exchange platform. Just you can use dummy accounts in your exchange websites engaged more trader. 3.Multi- Wallet support A cryptocurrency wallet is a basic element in all exchange platform. It is protected a digital wallet which helps you to store and transacting digital currencies like Bitcoin and Ethereum,litecoins.

  5. 4.Escrow system The escrow is a middle person or vendor to guide the user on the website. Now, all website has a silent escrow system. You can maintain the whole website through a secure dashboard. You can have a full control over the exchange with the single one to click admin panel option. It is a primary challenge faced by all crypto entrepreneur. Sellbitbuy helps crypto entrepreneur and provides ready-made bitcoin exchange script

  6. sellbitbuy@osiztechnologies.in 80152 04845 www.sellbitbuy.net

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