The functions to implement to launch your own white label crypto exchange

As the usage of cryptocurrencies continues to soar across borders, peer- to- peer exchanges are becoming the trend due to their secure functioning and swift settlement of transactions. With more focus on efficiency, white-label crypto exchanges have become a complementary part of the vibrant market. 

One of the leading P2P exchanges that operate on decentralized technology is the LocalBitcoins exchange based in Finland.  Some of the benefits are reduced time to develop the software, reduced costs on manpower, and better reach to a larger target audience. 

Let us know more about its functioning.

How P2P exchanges work?

• Buyers would place their orders at a particular price and payment method. Sellers will also execute the same. 

• A notification will be sent to buyers and sellers if they select an already posted buy/sell orders

• Transactions are processed once the respective orders are matched 

• Additional information such as trader’s history, quality score, existing trade volume will be displayed for better decision making. 

• Queries and doubts can be cleared using an interactive chat window 

• Slow execution of transactions can result in cancellation of trades 

• Cryptos will be released from the escrow account and transferred to the buyer’s wallet once the transaction has been authorized. 

     Some important features to include in P2P trading before launching your own white label crypto exchange are 

• Two-factor authentication for user’s accounts 

• Multi-currency support in wallets 

• Profit maximizing opportunities through futures trading 

• Quick KYC/AML verification 

• Real-time information about market movements and price changes with graphs and charts

• Easy to handle user interface 

• Posting of advertisements for receiving more trade requests 

      Reach out to the skilled developer team of Blockchain App Factory for launching your own white label crypto exchange. Their range of well-performing solutions at reasonable prices will suit your business requirements perfectly.