In this blog we will help you get acquainted with P2P crypto exchange platform and how the exchange development works? Let’s dig in.
What is a P2P Crypto Exchange?
Since Bitcoin and other crypto assets gained popularity, exchanges came in demand. Currently there are many types of crypto exchanges operating all over the world. These are –
- Decentralized
- Centralized
- Hybrid
Peer-to-Peer is a decentralized exchange where trading takes place directly between users. You can easily buy crypto from someone living in another country through P2P crypto exchange. There are huge benefits involved in P2P crypto exchange platform and businesses are looking for best P2P crypto exchange development company in India to launch an economical and user-friendly P2P trading platform.
India has emerged as a leader in digital transformations based on Blockchain technology. It has abundance of resources and experienced workforce to fulfill development projects such as exchange development, wallet development or tokens development. PlatinX Technology is one such leading crypto exchange development company in India which utilizes the technology with experts’ workforce to provide pioneering solutions.
How P2P Crypto Exchange Works?
Peer-to-Peer exchange is simply a trading platform where users from around the world trade directly with other users. You can simply buy/sell crypto assets by placing an ad or answering the trade ad from another user. The transactions done here are instant and based on Smart Contracts.
Suppose you are a user of a P2P exchange and you want to buy 10 Bitcoins. You can either buy it from ETH you have or transfer funds into your user account with the P2P exchange. Now you will shop for the seller who is willing to sell 10 Bitcoins at a lower price. Once the trade is initiated, your funds and Bitcoins will be held in Escrow account. After all the conditions are fulfilled the funds/crypto are released and the trade is complete.
This is how a simple P2P trade works and the method is gaining popularity. Users have realized they can deal directly without authoritative control of third party and paying high fees too through P2P crypto exchange.
Essential Features of a P2P Crypto Exchange Platform
As an experienced P2P crypto exchange development company in India, PlatinX Technology knows how important it is to build trust of customers. And it is only possible through market leading features such as –
- Multiple Crypto Support
- Multi Fiat -Currency Support
- Multi-Lingual Support
- Automated 3rd Party KYC
- Multi-Layer Security
- Two Factor Authentication
- AML Verification
- Easy Deposit / Withdraw
- Preferred Trader Selection
- Powerful Matching Engine
- News Page
- Crypto Swapping
- Price Alerts
- Escrow System
- Dispute Management
- Intuitive User Interface
- Customizable Admin Panel
How to build a P2P Crypto Exchange?
Although there are many P2P crypto exchange development companies in India and they offer both White Label solutions as well as From scratch development. However the process starts well before choosing a P2P crypto exchange development company. Let us discuss the steps required to build a P2P trading platform –
- Market Research – Market Research is very important before starting a new project. It gives you insight into the latest trends, demands and features to improve upon existing business model.
- Legal Advise – Crypto assets are unregulated therefore before starting an exchange, one should gain knowledge about local laws and regulations on Crypto. You have to meet the regulatory requirement of different countries if you are targeting a global user base.
- White Label or Custom Development – Consider all the alternatives and what your vision is, then go for the best option for your P2P crypto exchange development.
- Identify the best P2P Crypto Exchange Development Company in India – Now this is the most important step. It can be a challenging task through painstaking research and comparative analysis. You should consider these factors before choosing –
- Past Performance
- Client Testimonials
- Custom solution or only White Label Option
- Fees
- Post-development services & maintenance
Final Thoughts
P2P trading offers hosts of solutions; therefore it is steadily increasing in demand. If you are planning on launching a P2P crypto exchange platform then PlatinX Technology is the right exchange development company for you. We offer comprehensive solutions and customized as well as scalable trading engines for those who wish to enter crypto world.
Connect with us at PLATINX to share your business need for P2P crypto exchange development in India.
