Cryptocurrency Exchange Development Company

It is a digital platform to exchange one crypto for another, that uses blockchain technology. 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 features of crypto exchange software solutions:

• 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.

Alternatively, you can launch crypto exchange software script. Merkeleon script follows the on-premise model. If you have a solid background in development or a team of developers who can adjust the source code, the script is the right fit.

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 cryptocurrency exchange 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?

A high volume of users limits the performance of a crypto exchange due to the flaws of blockchain based technology. Nevertheless, in our software, we leverage this issue. It is important that the exchange platform responds effectively without passing excessive costs on operators.

It depends on the requests and needs of your business. Some platforms offer an extensive toolkit of a derivative exchange, while others provide just a few trading instruments. Many exchanges feature a smart contract option to optimise trading experience. Others introduce more elaborate functionalities. In our recent article, we have discussed top-18 best exchanges in the UK, their features and peculiarities. Check it out!