The way the transactions are taking place has taken a new medium, from using paper and mettle currencies to digital currency. Some countries have accepted the practice of running their business with Bitcoins, but also there are some who are against the use of Bitcoins.
Let me talk about Bitcoin first, A bitcoin was the first in the lineup of cryptocurrencies and was started in 2009. Bitcoin is a decentralized digital currency which works without a central bank or an administrator, without an intermediary. Developed by Satoshi Nakamoto, the creator remains unknown as it is hard to figure out whether it is a person or a group of people. A Bitcoin can be exchanged for currencies, products, and services and can be earned with the process through Mining. But since you know a lot about Bitcoins, I am directly going to talk about a bitcoin exchange software that will make it easier for you to grow your exchange business.
Well, it helped me grow my exchange business I am sure the features which I have listed below will come in handy when you are starting up an exchange business.
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Here are the features that I was benefitted my exchange business:
- Peer to Peer Exchange Option: This option involves no third party when a transaction has to takes place allowing the partners to trade directly.
BitExchange.systems is not like every other cryptocurrency exchange company, which act as intermediaries between their customers and therefore earn some profit out of it. Currently, in the market, BitExchange is the only cryptocurrency exchange script that provides both P2P and Regular exchange features.
- Hot & Cold Wallet: Well if you’ve been using Bitcoins you might be knowing what these wallets refer to, if not let me explain it to you.
A hot wallet is connected to the internet but poses a threat that computers can be easily accessed by hackers and the cases of stealing of bitcoins have been from the hot wallet. A Cold Wallet is not usually connected to the internet at first but as long as a cold wallet is connected to the internet it gets in contact with attacks.
But Bitexchange helped me in saving Bitcoins from posing any kind of outbreak as BitExchange offers only a limited amount of Bitcoins in a wallet enabling to withdraw a small number of bitcoins.
- Order Book: An Order Book helps you in keeping track of all the transactions taking place. One can check the orders, history and the transactions all under one platform.
With the kind of arrangement BitExchange had for my transaction history I was left speechless.
- Exchange Remarketer: BitExchange helped in maintaining the order books from the day one which is important for any cryptocurrency business.
An extensive looking order book can garner users who in return can start trading on your exchange business.
- Atomic Swaps: Swaps is a new and exciting feature from BitExchange that allows swapping one cryptocurrency to another.
There are two kinds of atomic swaps:
- On-Chain Atomic Swap: On-Chain is probably the most commonly used method for swapping of cryptocurrency. This kind of swap has heavily relied on the SCRIPT language.
- Off-Chain Atomic Swap: this one is a new one with the aim to achieve safe and reliable swap between two parties. Unlike the On-Chain Atomic swap, this one uses Hash Time Locked Contracts(HTLC).
Basically, HTLC helps in tracking whether the conditions mentioned in the contract are put into force or else everything gets back to where it was.
- Security: The most crucial part of any business is how it secures its users from the threats arising in the business and BitExchange takes it seriously(Yes they do)
It does not take the security of your exchange business lightly.
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Front the exchange front it helps with the following features:
Multi-Signature: Where you can use more than one private key to approve transactions in the bitcoin exchange.
2 Factor Authentication: A two-factor authentication can help prevent hacks up to some extent. This security key should be given a top priority when entering the exchange business.
- Margin Trading: This feature helped when I was short on funds and with the advanced margin trading module, it allowed me to borrow and trade.
And it also packs a great feature with allowing users who lend funds and in return can also earn some.
- Admin Panel: BitExchange offers you the best panel where users can know the details about the exchange business to have a safe and secure that controls end to end cryptocurrency exchange business.
- Buy-Sell: this feature is probably the one what user is looking for before joining in and also prompted me to use this in getting many users.
All it does is it offers users to conveniently buy, sell and trade cryptocurrencies under one platform.