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AppsLead › Forums › Eduma Forum › What are the Best Practices and Challenges in developing cryptocurrency exchange
This topic contains 0 replies, has 1 voice, and was last updated by Johnhendrick 4 months, 3 weeks ago.
Developing cryptocurrency exchange clone scripts saves your time and resources in various aspects. It reduces the development time and costs, and helps you start your exact-idea-based platform. Yes, it holds many advantages. But it also carries some challenges.
I’m listing out the best practices you need to consider when launching your cryptocurrency exchange script.
You need to have a clear understanding of the business model, target audience, and features. Well, that’s the order to start with. The features of your crypto exchange platform are decided by its target audience.
Then customize UI/UX based on your project specification. Choose the tech stack and ask your cryptocurrency exchange script provider about the level of alteration.
Since it’s the clone model, it is already built with some basic security features like KYC and TFA. You need to integrate additional features like DDoS protection, withdrawal whitelist, key management system, and so on. This frees you from stress and fear upon the thought that your cryptocurrency exchange gets hacked.
After, include the market-making bots too. It helps you attract users at an early stage. This places the orders randomly based on your(admin) specifications.
Finally, the regulatory issues are the one that hinders your business path highly. You need to get the corresponding license for your target regions. This helps you prevent your crypto exchange from getting banned by the government. Well, it might take a lot of time. But I can assure you it’s the only thing that’ll boost your platform’s reputation.
Consider these practices and team up with Trioangle Technologies to start your cryptocurrency exchange clone script safe and sound. Get your queries answered here: https://www.trioangle.com/cryptocurrency-exchange-script/ , Whatsapp: +91 9361357439, Email: sales@innblockchain.com
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