EMPOWER TRANSACTIONAL POSSIBILITIES OF YOUR BUSINESS WITH UNIQUE CRYPTOCURRENCY SOFTWARE DEVELOPMENT SOLUTIONS FROM OUR SIDE!

 The ‘term’ cryptocurrency is quite the word that has enough buzz in the blockchain technology arena these days. The technology blockchain helps support the cryptocurrency software development solutions work and remain dominant in the market. This connection between blockchain and cryptocurrencies has been making them grow eventually with no pitfalls leading to an increased value proposition and this is what actually the cryptocurrencies require. 

If the cryptocurrencies are meant to have a huge value proposition in the market, then the crypto businesses will flourish eventually with no doubt. But on the contrary, if there comes any deviation in that, then the very existence of cryptocurrencies comes under a great question. So, it is always pretty worth maintaining the cryptocurrencies with enough value propositions to hold on to the success of crypto ventures in the industry.

Before getting into detail about the cryptocurrency software development solutions, let’s take a look at the various types of cryptocurrencies available as of now…

1. Cryptocurrency coin: Brings a new store of value for the users who are all pretty interested in making exchanges for products or goods or services. Bitcoins, litecoins, and monero, and so on are some of the best examples.
2. Security tokens (the legally compliant securities of all the time): The cryptocurrency investments are considered to be the speculative ones as there exists a greater amount of volatility for them in the market. With this volatility in place, entrepreneurs find it difficult to attain enough level of security that every crypto business needs. 

Security token types have eventually come up with an extended level of security to bridge this existing gap. Obviously with the rise in the number of ICO campaign launches made every single day in the industry, the demand for security is also on the rise from the users’ perspective thus making the entrepreneurs think about have viable security enriched token option which is none other than the security token. This type of token gives rise to a business model called STO that works right away in replacing the security threats appropriate to the ICO models.

Just after the emergence of a lot more challenges with ICOs, enormous questions have been raised on both the users’ and the regulator’s side thus aiming to make the fundraising campaigns legal ever with improved security. Here is where the security tokens or STOs come in as promising business models to help cope with the market situation and demands at the right time. Also with the evolution of security-powered STOs, the community of investors can be able to purchase a tokenized security of their choice for their business growth preferences.

1. Utility tokens: As the name suggests, these kinds of tokens are meant for the impeccable utility that they hold. They are neither the currencies nor the securities, which means that they lie in between the currencies and the securities. Being the blend of both the currencies and the security token types, utility tokens get traded on exchanges where the cryptocurrency trades use to happen. This might confuse you that how a token that is neither a currency nor security finds itself beneficial for trading over exchanges. But that is the fact that no one can deny. The best example of this type of token is ethereum (ETH).
2. Work tokens: The ideology behind this type of token is that the network distributors have to perform native network token staking for the work to get presumed. If in a network a participant’s work is in such a way of appreciation and accolades, then he might be rewarded with some amount of work tokens as a sign of encouragement, and here is how actually the work tokens sound strong.
3. Token curated registry tokens: This type of token abbreviated as TCR facilities the users with the conversion of their rights into registry content. The registry allows lower stakes for new token listings to come through consistently in the network.
4. Access tokens: These are the blend of tokens intended either for staking or for paying charges. The tokens intended for staking denotes the primary tokens and those that are intended for payments form the secondary tokens. The amount of staking done on the secondary tokens for every primary token relies purely on the platform utility. The procedure is exactly similar to that of taking a license to get access to a particular service right at a fixed budget. Vechain and Gnosis are some of the best examples.
5. Proof-of-burn tokens: As the name suggests, this type of token holds a consensus that permits the users to ensure the token utility right by burning some of the tokens in prior. As evidence of coin or token burning done here, every information with relevance to the appropriate transactions gets recorded in the system blocks. 

Once the token burning gets completed, the users will get the rewards they actually deserve. Thus on the whole the concept of proof-of-burn is nothing but with the burning of a certain quantity of cryptocurrency tokens, the users will get ready to accept the sake of long-term investments together with some short-term losses incurred.

1. Stable coins: This type of cryptocurrency coin has come up to reduce the volatile effect of cryptocurrencies in general and which is basically intended to preserve the value proposition that the currencies hold by themselves. 

Besides the above-mentioned currency types, there are some other currency types available in the market as well and I am sure that is not the final list of cryptocurrency types. If you wanna explore in this section of cryptocurrency types, then it would be advisable to go with deep market research so that you would be able to come out with a better understanding of the rest assured types of cryptocurrencies.

Need for cryptocurrency software development solutions:

Anyone can create a cryptocurrency of their choice either by building a new blockchain or by simply forking from an already existing blockchain. But the worst part that always seems tough to achieve in any cryptocurrency development process is the integration of the codes right into the business processes for exact results and that too at a cost-effective budget. Here is where the cryptocurrency development solutions find importance right away in achieving all your cryptocurrency development goals.

An extensive cryptocurrency development firm like us can help you get the proper support needed for your cryptocurrency software development solutions. And that support we provide will be of the following forms:

• Blockchain network creation.
• Centralized (CEX), decentralized (DEX), and hybrid crypto exchange (HEX) creation.
• POC (Proof of concept) strategy integration.
• Asset tokenization
• DApps (decentralized applications) integration.
• Compliance meets (KYC – Know your customer, AML – Anti-money laundering, and GDPR).
• Currency inter-operability techniques
• 24*7 support.

What our cryptocurrency development team is going to offer you?

Our professional cryptocurrency development team of experts will be taking the responsibility of making your business attain the following needs at ease:

• Quality assurance
• Experience
• Expertise
• Industry knowledge and exposure
• Market analysis
• Understanding the entire business processes
• Strategic relationships with the clients.

Final note:

As a business leader or an entrepreneur, you might have pre-dominant questions to ask yourself on the go. If so, then just think about a few questions for a while like ‘what basically is the vision and mission that you are going to set for your business?’, ‘What are all the key complexities in achieving them at the right time?’, ‘who are all serving the industry as your direct business competitors?’, ‘what would be the exact time that you fix for your business to attain success with all the goals satisfied?’

Yeah! Defining the goal sets and the milestones of the business clearly is what actually could help you travel straight away in the path of accomplishment with no doubts.

So, what else we have to focus on when it comes to blockchain-based cryptocurrency development? Having any other ideas about addressing your business demands? Or have some other criterion in your mind and you want us to make it happen with no hassles?

No worries! Just get back to us with all your ideas and dreams put forth together. We will help you proceed further to implement all of them instantly in your business to reap immense profit with a better ROI ever. 

Let’s come forward to approach our legal cryptocurrency development experts to get done successfully with the launch of your own unique cryptocurrency coin or token in the market. For any other clarifications, do reach out to us at info@shamlatech.com.

A DETAILED INSIGHT INTO WHITE-LABEL CRYPTO EXCHANGE SOFTWAREDEVELOPMENT!

 Get your master key – white-label crypto exchange software solution right from here for huge profit generation in your business!

Do you have any idea about how the white label crypto exchange software helps out businesses over the years? If no, then this blog is for you. Here, you will be going to discover everything that you need to build a cryptocurrency exchange of your choice with greater liquidity. So, never miss out to read it till the end.

Come; let us dig deep into the concept….

Cryptocurrency exchange development – an exciting opportunity…isn’t it?

With the boom of the digital or crypto asset exchange industry in recent years, the ample number of entrepreneurs gets entry the cryptocurrency exchange development concepts each passing day. Of course, this trend has paved way for more trades to be carried out with the crypto assets all across the globe resulting in greater global trading turnover rates ever. 

Such a tremendous rise in the market worth of crypto assets and the respective exchanges has brought a strong belief that the cryptocurrency exchange platform development holds a huge profit scope both for the present and the future as well. Moreover, the cryptocurrency exchange website development has been coming up as the hottest trend of the crypto industry right now in terms of benefiting businesses belonging to the cadre.

In order to witness this trend, we are submitting the below statistics:

As per a recent survey, Bloomberg stated that in the year 2017 itself, one of the world’s largest and famous cryptocurrency exchange platform coinbase earned a total profit of more than 380 million US Dollars ($380 million). This actually seems out to be a ground record that has ever been made so far by any other platform in the market. Also, another largest exchange Binance was found to touch a total profit turnover of more than 200 million US Dollars ($200 million) in the year 2018 itself. This achievement of binance stands next to coinbase and this chain goes on extending further. 

Such a stunning profit by these exchanges keeps on adding credibility to the cryptocurrency exchange development solutions further than before day today. This is where the scope of cryptocurrency exchange development lies in and how could we regret to build our own crypto exchanges that will get us over to a tremendously profitable business! Yes, cryptocurrency exchange development is undeniably a golden opportunity to go with right now for our business enhancement and prospects.

Then why not you go for such a surprising opportunity for profit generation? Once you go with this, the next thing that you need to consider is the selection of the right cryptocurrency exchange development partner like us so as to meet all your business demands.

What exactly is white label crypto exchange software?

The white label crypto exchange software is a collection of codes that help us in building a reliable cryptocurrency exchange that suits the best for our business requirements. It is available as a ready-made application so that we could deploy our own white label crypto exchange instantly in no time. 

Everything right from the scripting part to the side of licensing will be taken over by the company that provides you with the software. The software as well can help you in making customization as per your business needs to meet the varying demands of all the time. With the software, you can customize whatever you want including the brand name, logo, features, functionalities, modules, designs, or even the ideas that contribute to the brand development.

The reason why a majority of people recommend the adoption of white label crypto exchange software when it comes to cryptocurrency exchange development is that the software is a readily available application to help launch a stunning exchange out there in the market. As the software is ready-to-deploy, only testing is enough to go further with the usage part.

Advantages of our white label crypto exchange software:

As a leading cryptocurrency exchange platform development firm in the industry, we at shamla tech will offer you a custom white label crypto exchange software with the below-mentioned benefits:

• Instant launch: 

We all know that the white label solutions, in general, are available for deployment instantly with no hassles. By the way, the white label crypto exchange software would not be an exception for this case. The software will let you avoid the possible delays caused due to project ideation, design, and developments thereby making you perform an instant exchange platform launch on the go with ease. 

Thus, the white label crypto exchange software is somewhat a huge credit for those who are looking out for an urgent requirement of launching a cryptocurrency exchange platform. 

• Low cost of labor: 

As the white label crypto exchange software itself holds all the necessary tools, technical features, and functionality sets to get done with a well-equipped exchange platform, there will not be a need to spend some extra pennies for laborers. Thus, if you go for hiring out some laborers for your project, it would really be a tough task for you as it involves a lot of extra charges. But the utilization of a white label solution is proven to be very effective in saving your hard-earned money. 

• Reliable: 

With our white label crypto exchange software, you can get assurance for a better amount of reliability for your project altogether with better efficiency. This could be made happen right with the expertise held by our professional developing team.

• Extended support: 

We as a white label crypto exchange turnkey solutions provider will provide your users with the total support they need at any time especially in cases of addressing issues or solving queries.

• Technology stack: 

Our technology stack is highly powerful to meet all your technical expertise related demands with ease. Don’t worry if you have lack technology expertise; our team of talented professionals is here to help you out to bridge the existing knowledge gap. They will take complete responsibility for each and every stage of your crypto exchange platform development right from the ideation to the final stage of launch.

• Branding: 

Our white-label crypto exchange software will allow your project to get perfect branding as per the choice of requirements free of hassles. Your project need not be confronted with the name and logo of any external third party; instead, you could get the branding at your own name itself and simultaneously the logo at your own choice of priority as well. In simple words, your branding would be done in such a way that will make you stand out from the competing crowd for sure. By the way, you could acquire a good range of reputation ever for your business thus resulting in high-profit returns upon the investments.

• Commission: 

As a white-label crypto exchange software owner, you could be able to reap the commission charges for the trades being made on the platform. This commission stands out as a part of your overall profit thus boosting up your business revenue levels towards greater heights ever. Usually, the trading commissions are set between 1and to 3% and that too varies from platform to platform. You can set it according to your choice of expectation and that is purely up to you. 

If you wanna go for an ideal trading commission limit, the recommended % will be 2.99. If you find it okay, then you can go with the same; else you can make changes as per your choice of desires.

• Transactional charges: 

Apart from the trading commissions, you would also be eligible to get transactional charges as another part of your profit. These charges usually cover the charges for making fund deposits or withdrawals and the funds might either be the cryptos or the fiat currencies. Here, the crypto to fiat and fiat to crypto conversions are considered as well.  

Building a White-label crypto exchange software has been made easy with us:

The fact is that you may not believe that the global cryptocurrency exchange business owners today have been making some millions and millions of dollars via setting up of a reliable exchange platform for trading. Yet, it is 100% true and nobody in the crypto space right now can regret this factual information. 

Shamla tech being an extensive White-label crypto exchange software development company serving the industry over the years with its immense technology experience and expertise can help you build a custom crypto exchange with all the feature sets that you wish to integrate for your business. Our promising, responsive, and enthusiastic team of developers will offer you the financially and technically productive cryptocurrency exchange development solutions right at ease and at a cost-effective budget. 

IS WHITELABEL BINANCE CLONE SCRIPTS REALLY SAFE? HOW IS IT BENEFICIAL?

 

BINANCE CLONE SCRIPT

BINANCE CLONE SCRIPT

The cryptocurrency exchange market has proven itself to be highly profitable if approached correctly. The number of whitelabel Binance clone scripts platforms drastically increased but the quality of services can still be a question. Given that cryptocurrency trades are not governed or monitored, they have boosted to unthinkably high levels, with wider audiences.

Binance Exchange has a lot of financial and strategic backing, which can keep the digital market afloat for years to come. This means that the emergence of the dominant alternative currencies can take over the world in the coming years. If you wish to create a new exchange of your own it is the best time to be a pioneer in the field. If you’re looking for high liquidity for trading or any other purpose, you may want to get another digital currency.

Is Binance Coin Real Money?

The main objective of Binance coin is to fuel the operations of crypto exchange and empower the trading and the Binance ecosystem. Currently, the native coin can also be used for trade discounts. Cryptocurrencies can also be used for paying for travel and hospitality services, but so far its acceptance as a viable currency is low but expected to hike in the upcoming years. That’s why it can’t be considered real money, at least not yet.

On one side this huge hype around the question “how to build a cryptocurrency exchange like Binance” makes this market quite competitive.

But the more the market develops, the more trust it gains from users, and the more benefits it brings to those who know how to work with it. That is why creating a high-quality cryptocurrency trading app is an amazing idea. So, let’s see what you need to pay attention to and how to start a crypto exchange service with Binance app clone.

• Sign in/Sign up

The signup or login page is the foremost thing a user will see, but the main point of it is not just to let people in after creating their account but to also protect the system from any unauthorized logins or any other kind of manipulations and hack attacks. For this reason, this functionality and the security systems should be very well developed and correspond to the highest of the standards. Besides the general login/password combination, there is also a 2FA or multi-factor authentication to provide additional security for users.

• User Verification

One of the reasons the digital market is so trusted among the users is that every trader in the platform is thoroughly verified. Depending on the type of verification processes like KYC and AML, the verified users generally have more opportunities. For example, the limits for withdrawal for the verified users are much higher than for the non-verified traders. The verification is crucial to ensure the transparency of trades and to minimize the possibility of fraud.

• Deposit/Withdrawal

This feature allows traders to deposit the funds into the internal hot and cold wallet featured by the cryptocurrency exchange software, as well as to withdraw money to the wallets outside of the software according to the limits set by the exchange.

• Transactions creation

Every user should have a possibility to trade, buy or sell cryptocurrency to other users in the platform. It’s very important that all the transactions are super fast and without any system errors or hurdles. The system should have several payment gateways and possibilities for order creation to allow the user to choose the one which is convenient for them at the moment.

• Analytics

A very useful and mandatory feature that allows creating various graphs and statistics for better visibility of the rates and opportunities. 

• Internal API

A White-Label Binance Clone Script has its own API to allow users to create their own automated trading systems or the data exchange among the verified devices.

• Admin Panel

With the help of the admin panel, the employees of the exchange company will be able to monitor trades and manage the actions made on the exchange based on their access level.

These are only the main features required by any application of such type. There is much more to be implemented in the binance clone website script to make it not only usable but also secure and easy to use.

 

What Are the Benefits of Binance Clone App Development?

Quick Transactions

If you are using BNB to trade on the exchange, you will have access to the platform’s proprietary matching engine which can support up to 1.4 million orders every second. You can always find the right trade with binance app clone, and using binance website clone script makes launching your own platform even quicker and reliable.

Secure & Trustworthy

The popular exchange already has millions of digital currency traders and users who rely on the platform. The ready-made binance Clone Script holds the same trust with the exchange’s security and protection features. The exchange uses a multi-cluster and multi-tier system framework and Secure Assets Fund for Users (SAFU) to keep your funds safe.

Trade Multiple Cryptocurrencies

Using Binance coin, you can trade more than 150 cryptocurrencies on the exchange relying on a fast, secure and affordable trade matching system. Apart from that, the Binance app clone also gets its own trading pairs to meet your specific business requirements. With the experts in shamla tech, you don’t have to look anywhere else as the features we provide are completely customizable for all your business needs.

Spend Binance Coin

Apart from a seamless experience within the Binance Clone Script Development and trade fee discounts, you can also use Binance Coin in many other different ways. It is accepted by multiple service providers, especially in the traveling and hospitality industry. Buy your own Binance Exchange Website Clone Script to enjoy massive benefits.

Participate in ICOs/IEOs

Binance Launchpad also hosts new token sales where you can use your BNB tokens to purchase a stake in a new and upcoming currency. Later on, these new digital currencies are added to the Binance app clone where you can trade them as well providing a complete and hassle-free experience.

Can It Be Used Anonymously?

It is easy to maintain anonymity when you are using cryptocurrencies. Since the token is mostly used within the Binance ecosystem, you need a verified account on the exchange to use the currency. White-Label Binance Clone Script complies with Know Your Customer (KYC) and Anti Money Laundering (AML) regulations which means it will ask the user to provide personal information to verify the identity before creating an account. You cannot use the native coin on the platform without an account. If you are privacy-conscious, then you should try any other cryptocurrency like Zcash that uses deliberate methods to mask your identity on the blockchain and the transaction details.

How Safe Is Binance?

It is built on the Ethereum blockchain, which uses cryptographical encryption to prevent data breaches and interception. Since the blockchain is decentralized, there is no single node or a central hub that can be hacked to manipulate the data. Apart from that, Binance Clone App Development is a reliable name in the crypto space with its security features which add multiple safety layers to keep your personal information and funds safe. These include two-factor authentication, escrow, SSL certified encryption, Clickjacking attack, and X-Frame-Options. You can also use highly protected cold and hot wallets to keep your BNB secure.

Is Whitelabel Binance clone Scripts Worth the Investment?

One of the most promising things about Whitelabel Binance Clone Scripts Development is booming in the era where everyone is shifting to a more digitalized world. You can build your own crypto exchange with robust Binance Clone Script Development for superfast operations and digital asset trading, providing a seamless experience to the platform users. As a leading Binance Exchange Website Clone Script development company, the experts here offer completely adaptable clone scripts for all popular exchanges.

Even though cryptocurrency space is said to quite unpredictable, especially when it comes to price fluctuations, If you are looking to invest in whitelabel Binance Clone scripts Development or any other cryptocurrency exchanges, do so with great deliberation and caution to ensure your investment capital remains secure. We are here to bring out the best ever services to help you attain maximum benefits.

BINANCE CLONE EXCHANGE APP FOR ANDROID, IOS AND WEB: IT’S NOT AS DIFFICULT AS YOU THINK

 Binance gained prominence during the historic crypto bull run which was hosted in 2017 and supporting a wide selection of cryptocurrencies. Binance was one of the most reliable and quickest trading platforms and probably still is. This exchange became so well-liked in such a short span that it became worth more than a billion dollars in less than a year, officially being one of the first exchange platforms that achieved established status in the cryptocurrency sector. This popularity gave rise to people looking for a Binance clone exchange app which holds similar functionalities.

What are the supported cryptocurrencies?

One of the best features of the Binance Clone script as a cryptocurrency exchange is the wide range of coins that they have on offer. Whether you are looking for mainstream currency such as bitcoin (BTC), Ethereum (ETH), or other altcoins like Ripple (XRP), you would find it difficult to find a crypto coin that is not supported by Binance. To sum up, a White-Label Binance Clone Script can have a complete listing of coins presently at more or less 100 different cryptocurrencies. 

It is undeniable that bitcoin has enjoyed a true explosion as far as the cryptocurrency is sometimes misinterpreted as bitcoin. The new and trending cryptocurrency has hit among investors, traders, and consumers and everybody is looking to form a profit with bitcoin trading. It has many to supply like lower fees, much higher transaction speed, and increasing value which might be the reason why most of the people choose it for their trading. 

Advantages of using Binance clone website script

• If you are always on the move, the Binance mobile app may be just the thing for you. It is compatible with all major operating systems like android, iOS as well as pc and mac, therefore just about even new users can trade or monitor their account from anyplace anytime.
• Binance provides an extensive selection of tradeable cryptocurrency markets. In the last few years, about 467 various markets are supported this binance website clone script.
• Binance has its own exchange token, bnb, which can be utilized to supplement trading fees as well as advance the overall liquidity on the exchange.
• Binance was a forerunner of the first exchange offerings, and its launchpad enables sales once monthly for those who want to be early holders of new tokens.
• A higher trading volume than most of the alternative cryptocurrency exchanges.

If you wish to start an exchange like Binance there is no other better option than getting a ready-made Binance Clone Script. The Binance website clone script offers various robust options that are very much needed for any secured trade.

• Sign in/Sign up

The signup or create an account page in the binance clone exchange app is the first thing a user will see, but the main point of it is not just to let people in after registration but to also guards the system against any unauthorized logins, hack attacks, or any other kind of manipulations. For this reason, this functionality of the Binance Website Clone should be very well developed and correspond to the greater standards. Besides the general login and password combination, there is also a 2 factor or multi-factor authentication to provide additional security for users.

• User Verification

One of the reasons the crypto exchange market is so trusted among the users is that every user is thoroughly verified. Depending on the type of verification, the verified users generally have more possibilities. For example, the limits for withdrawal for the verified users in Binance Clone App Development are higher than for the non-verified. The verification procedure is important to ensure the transparency of trades and to minimize the possibility of any unauthorized activity or a scam.

• Deposit/Withdrawal

Binance Exchange Website Clone Script allows traders to deposit money into the internal wallet that is highly protected, as well as to withdraw money to the wallets outside of the software according to the limits set by the administrator.

• Transactions creation

Every trader should have a possibility to exchange, buy or sell their assets to other users in the system. It’s very important that all the trades are super fast and without any system errors or theft. The system should have several possibilities for order creation in order to allow the user to choose the one which is convenient for them at the moment.

• Analytics

A very useful feature is the analytics which allows creating various graphs and statistics for better visibility and hassle-free trade.

• Internal API

The exchange’s own user-friendly API is required to allow users to create their own automated trading systems or the data exchange among the verified devices using the cryptocurrency exchange script.

• Admin Panel

With a powerful admin panel in the Binance Exchange Website Clone Script, the administrators of the exchange will be able to monitor trades and manage the actions made on the platform based on their access level.

The above are just the main features required for Binance Clone Script Development and it holds various security and customizable features that can be built as per the needs of the business. There is much more to be implemented in the app to make it not only usable but also secure and user-friendly. 

As a leading cryptocurrency exchange development company shamla tech provides cutting-edge and advanced binance clone app and Binance Dex Clone best suitable for all your business requirements. The developers here are experts in offering readymade solutions for all popular exchanges with the latest of features. Get round the clock support and instant benefits by launching your own exchange platform in no time.

P2P TRADE: WHY DO YOU NEED ESCROW WHEN YOU CREATE BITCOIN EXCHANGE OF YOUR OWN?

 

CRYPTOCURRENCY EXCHANGE DEVELOPMENT

CRYPTOCURRENCY EXCHANGE DEVELOPMENT

P2P TRADE: WHY DO YOU NEED ESCROW WHEN YOU CREATE BITCOIN EXCHANGE OF YOUR OWN?

February 4, 2021

When it comes to create bitcoin exchange there is a different concept of a trading website like decentralized, centralized, and hybrid. Now, Peer 2 Peer bitcoin trading software is the perfect solutions for all traders its works like a decentralized platform idea we can call shortly P2P crypto exchange.

Let us learn about how Peer Peer cryptocurrency exchanges work and what are the advantages they bring.

P2P crypto exchanges were created for the number of traders where transactions and trade are carried out effectively with the help of escrow or smart contracts.

Peer to Peer Cryptocurrency Exchange

To increase the magnitude of trust in the cryptocurrency exchange platform then, P2P exchanges are introduced, which involves direct trade between traders without the need for any intermediaries.

How does the P2P bitcoin exchange works?

In a P2p bitcoin exchange, those who wished to trade the digital currency will have to post an order with details such as the location, amount of coins, and price. 

These details that are posted would be added and shared in a ledger named the order book. 

On the other end, users who would wish to buy with those conditions would select an order. 

The buyer and seller can initiate the trade once they check the feedback scores and begin the trading process.

The users can negotiate with each other directly without involving an intermediary or third party, making the entire process simple and effective.

However, the transactions can sometimes involve third-parties helps to avoid any scam. 

Yeah, before starting the chat seller wants to submit the bitcoin to the escrow wallet or need to agree to the terms condition of a smart contract.

When the seller receives the notification about the payment as “… is paid” the escrow will release the funds to the buyer’s wallet. 

On the other side, the smart contract conditions match both sides the required cryptocurrencies will release to the buyer’s wallet. This feature helps to prevent the traders from spammers and any unauthorized activity.

The Benefits Trading in P2P Exchange 

Security – In a peer to peer platform, all the transactions held on the public ledger of blockchain and KYC (know your customer)/AML (Anti-money laundering) details remain in synchronization to the database. Therefore, this is the possibility to avoid any hack, unauthorized activity, or fraud.

Encrypted data – The complete information about the transaction is recorded and stored in a distributed network and embedded with an encryption mechanism. Therefore, it is quite not possible for anyone to trace the information.

Cost-effectiveness – Without any intermediary, the transaction fees in the p2p exchange platform is less when compared to other exchanges. 

No limits for Deposit/withdrawals

The traders can easily add or move their cryptocurrencies at any time without any restriction. You can use traditional currency or local money for buying a digital coin. Users can also buy the cryptocurrency with their cards and various payment options make trading so easy.

What is an escrow service?

An escrow service is provided by a trustworthy third party, who can temporarily hold on to the funds and regulate the payment in a transaction, ensuring that both involved parties stick to the terms of their arrangement and conditions.

Once all terms of the transaction have been met, the escrow service provider will process the payment. Escrow also exists to ensure that large payments are processed in a timely manner and completely according to pre-agreed terms. Earlier, traditional systems like banks and other financial institutions provided escrow services. In the present, you can also find a large number of escrow service providers.

Why is the escrow service so important?

The escrow service protects Binance’s users from scammers. If a user tries to convince you to make a deal outside the Binance P2P platform, ignore the suggestion and open an appeal. If the deal is made outside the platform, the security features cannot protect you.  

Imagine that you want to buy bitcoins or any altcoins and you find an offer at a very competitive price but the seller seems new to the platform, with no completed orders or feedbacks. How can you be sure that the trader is genuine and will transfer the cryptocurrency to your wallet? 

The escrow services as a cryptocurrency exchange solution to solve this type of situation, by holding the cryptocurrency in a deposit. You can also create your own crypto exchange with the smart feature that will analyze both the buyer’s and the seller’s conditions and progress then trading accordingly. 

A leading cryptocurrency exchange platform development company, Shamla tech provides white label decentralized exchange to help you launch your platform with robust security features in no time. The cryptocurrency exchange consultants here also offer White label exchange platform solutions for all popular exchanges to develop cryptocurrency exchange of your choice easily.

How does bitcoin escrow work?

As the transactions are irreversible, it should come as no surprise to learn that escrow service in the exchanges is now becoming increasingly popular.

How does escrow service work when you create your own bitcoin exchange?

Step 1: Place your order 

Place an order to buy or sell cryptocurrency. The crypto coins will be held by create bitcoin exchange temporarily until the trade is successfully completed.

Step 2: Start a conversation 

Start a conversation with the seller or buyer. When you are trading with the other end user that you do not know, we recommend that you use the direct chat option to communicate with him/her. The chat history will be of great help if there is a dispute with your buyer or seller and you make an appeal. 

Step 3: Make the payment or release the digital assets

If you are a buyer, make the payment and notify the seller that you completed the payment. Click the “Confirm” button to let the seller know that you made the payment. When the trader sells the cryptocoins, wait for the buyer’s payment confirmation before releasing the crypto.

Step 4: The transaction was successful or the counterparty was not responding

When you start a bitcoin exchange of your own, in most cases, everything goes smoothly. With new users, what happens if the buyer pays and the seller releases the crypto, but the counterpart was not fair? In other words, the buyer did not send the confirmed money or the seller did not release the agreed crypto after the buyer made the payment. In these situations, you can open an appeal, click on the “appeal” button. Now is when the escrow service comes into play and this is why the crypto was temporarily held.

How does escrow service help crypto sellers when you create bitcoin exchange? 

If the digital currency buyer did not make the payment, the P2P’s escrow service will return the agreed amount to the seller when the time for negotiation is over.

While the exact steps vary slightly depending on how you want to create own bitcoin exchange and provider to provider, bitcoin escrow generally works as follows:

• After all aspects of a transaction have been agreed upon, the two involved parties choose an escrow service they want to use to make the bitcoin payment.
• The conditions of the transaction are met and both parties agree that the terms have been fulfilled.
• The seller releases the funds that are held in escrow.
• The recipient receives their bitcoin payment.

 

Why choose Shamla tech’s for P2P cryptocurrency exchange platform development?

Here are some solid reasons to choose Shamla tech for Peer-to-Peer Exchange Development

1. P2P Exchange Script comes with admin and traders, merchant dashboard, trader dashboard.
2. Security features like DDOS, SSRF, CRF, HTTPS Authentication, etc.
3. Special add-ons like Initial Exchange Offering (IEO), Cryptocurrency Price Ticker API, Rest API
4.  Multi-currency wallet support.
5. Digital Marketing Services for your exchange

Create bitcoin exchange

We assure to build your own bitcoin exchange website with highly customizable features that are best suitable for your business at cryptocurrency exchange software price at your budget.