Cryptocurrency Exchange Software

Cryptocurrency exchange software is a reasonable solution when you decide to launch your own crypto exchange. People tend to compare it to outsourcing, when crypto exchange software development is assigned to another party. Turnkey solution is even simpler. You don’t have to wait for development, control progress and in the end receive an unpredictable result.

The Merkeleon exchange solution is ready to launch within 2 weeks or slightly longer if an operator wants to modify the front-end, add some modules, orders or payment methods.

Advantages:

• Rapid launch
• 5-10 times cheaper
• Higher potential for revenue
• Uninterrupted development

It is a platform to exchange one crypto for another at a set rate. Users make requests setting the value and volume of a currency. Should there be a matching counter-offer on the site, crypto gets exchanged.

The crypto exchange features:

• Cryptocurrency trading
• Investing in cryptocurrencies
• Currency exchange

There are three key stages:

1. Obtain a cryptocurrency licence.

The operator can choose a jurisdiction independently in sync with the further development of business, or seek legal advice to ensure licensing requirements for a cryptocurrency platform fully met. It can be Estonian, Maltese, Swiss, Liechtenstein, Gibraltar licence.

If the program presupposes trading not only with cryptocurrency but also fiat, a financial licence will be required. Plus, cryptocurrency exchanges must use the KYC system to counter money laundering.

2. Pick a software developer.

Choosing a Merkeleon turnkey solution, the operator can significantly reduce the costs on cryptocurrency exchange development and salaries, as well as cut the launch time. Moreover, Merkeleon provides a full qualified technical support after the launch. It facilitates the work of the operator, who can concentrate on business processes and its promotion.

3. Ensure protection against exchange software hacking.

There are no security problems with Merkeleon platform. Merkeleon was among the pioneers in 2014, when we launched our first exchange. Our deep experience in this field helps our specialists to optimize operational risks and expenses. Our team put lots of effort into monthly updates and scheduled security audits.

We recommend considering the major threats, which can be:

Internal

• Targeted phishing via social media
• Social engineering

External

• Account theft
• Fraud via applications
• L3 and L7 DDoS attacks

Infrastructure

• Norm deficiency while developing and installing platform
• Vulnerabilities in the trading process
• Multi-stage targeted attacks on bitcoin exchange software
• Fraudulent activity from scammers
• Targeted virus software updates, say, for bitcoin exchange or any other token

To protect your company, review the following areas of security measures:

Internal

• Traditional end-point security
• Basic training of cyber-hygiene

External

• Phishing pages monitoring
• Prevention of DDoS attacks
• Fraud prevention for mobile and web applications

Infrastructure

• Security audit of exchange platform & software
• Cryptocurrency exchange platform Perimeter Penetration Test
• Account theft prevention
• Threat detection of targeted attacks on software

How to protect your crypto exchange?

If there are many concurrent users sending concurrent requests, the software for crypto exchange platform will limit the number of requests from one IP address and simultaneously increase quotas for AWS cloud resources. It is important that the exchange platform responds effectively without passing excessive costs on operators.

There is no universal answer to that question; it all depends on individual requests and needs, whether traders want to have an extensive toolkit or prefer to use just a few functions, for instance. In our recent article, we have discussed top-18 best exchanges, their features and peculiarities. Check it out!