P2P cryptocurrency exchange development forms the growing realm of the blockchain and the cryptocurrency community in the recent times. Decentralization is one major reason for this and it helps the users in making transactions with no central authority or any other intermediary. This means that the trades and transactions of the exchanges will be maintained without the interruption of any third party services thus bringing a lot of seamless advantages to the traders of the platforms.
Well; do you know what are all the major benefits of going with P2P cryptocurrency exchange development? Let us explore them in the following:
P2P Cryptocurrency Exchanges :
offer promising potential when it comes to trading and transactions. They provide security, privacy, and cost – effectiveness. All of these benefits stem out from the concept of decentralization that the P2P (Peer to peer) exchanges furnish.
How the decentralization with P2P cryptocurrency exchanges stands out to be beneficial over the centralization with the normal exchange types?
If we take any kind of centralized crypto exchange, there is a single central authority working to maintain the point of control. This is what actually the term ‘centralization’ implies. Though these kinds of centralized exchanges provide the users with enough liquidity, faster cum efficient trades, and speedy transactions on one side, just a single hacking attack itself is sufficient to spoil the entire system on the other side. Thus, the centralized exchanges are very much prone to unauthorized attacks and this is where the concept of decentralization finds its dominance in the arena of cryptocurrency exchange software development.
The P2P crypto exchanges or the decentralized exchange types have now occupied a huge market share thus making the users enjoy seamless profit ever. As these exchanges operate with no middlemen services, the overall operations and the counter party interactions are carried out with the help of pre-programmed software algorithms. These algorithms are responsible for managing trades and the entire trading platform’s functionalities.
As per the present market statistics, the collective market cap of some 1600 cryptocurrency types available as of now is estimated to be something around 289 billion US Dollars ($289bn). This proves that the cryptocurrency domain have bursting out as a fast – growing sector in today’s technology world. Due to this reason, investors all across the globe have been showing immense interest in making trades with cryptocurrencies in the recent times.
Now it’s also the turn for you…As an entrepreneur, you are now having the chance to put a mass entry in the crypto space for exploring the vast advantages both in terms of boosting up your business potential and in terms of generating seamless profit. All you need to do is that you have to make use of our white label exchange solutions to build your own exchange like the world’s famous exchanges binance and coinbase.
The best decentralized crypto exchange software solutions provided from our side are 100% customizable to meet all your business demands with ease. Our new realm of P2P cryptocurrency exchange development has come up to serve the traders with respect to their varying business requirements.
Procedural workflow of decentralized crypto exchange platforms:
In the case of a normal cryptocurrency exchange, the cryptocurrency sellers are given the complete rights of fixing the price; quality and quantity of the assets that they wish to sell in the platform. Besides, they need to raise selling requests for the same and those requests get entered in the platform’s trading ledger known as the order book.
The buyers who wish to buy assets can either raise a buying request in the platform or else they can look out for a desirable order in the order book to go further with his asset purchase. But before making purchases, they need to go through the terms and conditions specified in the deal that they have selected. Once the buying and selling (trading) requests are made in the order book, the exchange works by matching the appropriate buy and sell orders with the mentioned pricings.
Again once the match gets over; it’s the time for the transactions to get over for the associated trades which may take almost 5 to 10 minutes of time. Sometimes it may get extended up to several hours if there are some technical problems. Whatever might be the problem, the exchanges try their best in speeding up the trading process always for better integrity. This could be achieved with the help of a trusted third-party intermediary. This is how the trades in exchange get completed right from making orders to financial transactions.
Well; let us come to the category of p2p or decentralized exchanges. They work in a slightly different way in comparison with the centralized exchanges with no intermediaries. Here, the trade orders get matched by the buyers and the sellers themselves rather than going for the match by the exchanges. The exchanges take the only responsibility of creating a link between the buyers and sellers and never involve in processing the trades.
The connectivity introduced by the exchange between the buyers and the sellers helps in carrying out the trades and transactions successfully free of hassles. By default, these exchanges never encourage any sort of human efforts as third party involvements, but some arbitrators are involved occasionally in cases of disputes. The decentralized crypto exchange software itself is capable of matching the trade orders and pursuing the requested trades perfectly at ease.
The following are the steps with which the decentralized crypto exchanges perform trades:
User account registration and access
ID (Identity) verification checks like KYC (Know your customer)
Wallet setup
Placing trade (buy/sell) orders
Order match by trading engine between the buyer and the seller
Negotiation of prices via chat
Deal confirmation
Storage of seller’s cryptocurrencies via smart contract
Payment made from the buyer’s side
Verification of payment receipts made from the seller’s side
Release of assets from escrow
Reception of desirable assets by the buyer.
What do we offer you as the best-decentralized crypto exchange software solutions provider?
Better tolerance towards transactional censorships:
In general, P2P exchange types are very much tolerant to the transactional censorships when compared with the centralized exchanges. Our P2P crypto exchange solutions will no more be the exceptions for this. Our exchanges shower excellent resistance to censorship of transactions done. They exhibit matchless expensiveness or worth, security, and privacy from the traders’ perspective.
No manipulation is possible here as there are no vulnerabilities involved. Also, if there is any dispute raised in one part of the exchange operations, the rest stands unaffected with 100% efficiency. This is one major plus with our P2P crypto exchange software.
Cost-effectiveness:
Our P2P crypto exchange software is available at a reasonable cost ever. Moreover, the exchanges impose only very low transactional charges when it comes to trading transactions. The primary reason here is that there are no considerable corporate overheads in the system by default.
Security:
We know that providing security is one of the chief responsibilities to be taken in the case of P2P cryptocurrency exchange development. Our P2P exchanges never involve directly in the crypto transactions; instead, they connect the buyers with the sellers and allow them to make trades and transactions, thus providing an extended layer of security to both the trades and the trading assets. Obviously, you won’t have any hacking or stealing chances, if nobody owns your assets or funds except you.
Compliance:
When it comes to building your own exchange, you must certainly abide by certain regulatory jurisdictions imposed from the governmental side. Different geographical locations have different laws or regimes. We as a white label exchange services provider can assist you with the best-decentralized crypto exchange software that is designed to meet your business compliance standards perfectly with no deviations.
By the way, you could make your exchange legally compliant or sustainable to operate in the market in a long run. Also, we regularly explore the latest rules imposed in the industry so as to help you maintain your exchange sustainability forever.
Smart contract escrow:
This service helps in keeping the money for the transactions until the cryptocurrency payments get settled down. This prevents fraudulence by protecting trading transactions.
Efficient matching engine:
The trading engine is built in such a way that it operates with high speed to support immediate and instant trades to get over in the exchange. It matches the requirements of the buyers and the sellers in real-time to help to manage the trades effectively at the best rates possible.
