Using the powerful crypto exchange, any new entrepreneur can get attain more result in profit with the usage of multiple cryptos, business modules, security features, language support. This variety of things enables your crypto exchange business takes to advanced level in your domain and attain feats that set a benchmark for other competitors. But to succeed in your crypto exchange, you need to pickup that the best crypto exchange development company among the market.
Choosing the right dedicated developer from the right company is the most difficult task for you to want to positive results in a crypto exchange development business. Therefore, it is a must that you do proper research and scrutiny before choosing a service provider in this domain.
Coinjoker-Best cryptocurrency exchange script development in India who offers the solutions that can give you the most conducive outcome. We enhance your business and enterprise by giving you the most suitable crypto exchange solutions as per your preference.
We find and sort out major cryptocurrency exchange difficulties which you could overcome the challenges you are facing in your cryptocurrency exchange website.
Cryptocurrency exchange development challenges:
- Security
- Liquidity
- Market Acceptance
Security Concern:
Most of the people in the world invested in cryptocurrency because of security; Although the main fact is, crypto is indeed secure. But the problem is that it’s not really the security that some users are hoping for secure transactions.
Some users who are involving in the crypto exchanges are expect it to be untraceable and their transactions are hidden. For cryptocurrency, the security was liquidation and visibility through blockchain. Cryptocurrency exchanges should makes feel and comfortable for people to see their crypto transactions like banking activity and they have the same feelings as well..
Liquidity Concern:
Liquidity is a major revenue driving factor for cryptocurrency exchanges which enables them to achieve higher trading volumes in the crypto market. Anyhow, many cryptocurrency exchanges face heavy losses due to lack of liquidity.
The core reason for the reduced liquidity in the cryptocurrency exchange market is the increasing number of trade/exchange platforms. The noted of the example of crypto exchange platform that, there are nearly 250 worldwide exchanges in cryptocurrency landscape compared to 70 exchanges in past 2013. Out of the 250 crypto exchanges, very few exchanges offer the required amount of liquidity for effective cryptocurrency trades to happen.
How Liquidity is important Cryptocurrency Exchanges?
Fresh Cryptocurrency exchanges require a sufficient number of buyers and sellers with high trading volume for effective trade execution for the new entry of users. The lack or low volume of liquidity causes problems for buyers and sellers in the form of increased transaction costs, reduced asset value, and uneven delays.
Scalability Concern
Scalability is another challenge for Bitcoin exchange transactions. It is potentially keeping this crypto asset out of the hands of potentially a larger user base. The problem of scalability arises due to Bitcoin’s nature of essentially having a limit on the number of transactions that can occur within a certain time frame. This limit is placed in order to prevent the blockchain size from spiralling out of control.
Slow transactions
Most of the crypto exchanges faces a major challenge as the time taken to process crypto exchange transactions has increased dramatically. This has caused businesses to stop accepting the crypto asset. The problem of slow transactions has been looming around for quite some time and makes crypto users wait till the transactions.
Poor mobile platform support
Despite having a huge market presence, it is shocking to see tech-giants like Apple and Google still do not support Bitcoin on their mobile platforms. Recently, Apple had decided to ban bitcoin wallets on the App Store. Furthermore, Google too does not allow in-app payments with bitcoin.
These are the most common difficulty factors while building crypto exchange platform. !!
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