Starting a cryptocurrency exchange is easier in today’s digital world than before. The reason is well-designed readymade scripts like Bitcoin exchange script and other cryptocurrency exchange scripts that make every startup dream possible in an affordable way.
Among many ready-to-deploy solutions, the Bitcoin exchange script stands in the heart of entrepreneurs, know why? Let’s see everything you need to know in the following discussion.
What is Bitcoin Exchange Script?
Bitcoin Exchange Script is a pre-fabricated trading software that is equipped with all the features to manage, automate, and run a crypto trading platform. Its customization capabilities offer the freedom to add ongoing features and change the overall theme of the software.
Additionally, with this solution, one can customize and craft it to create an Altcoin exchange platform instead of purchasing a separate trading script for cryptocurrencies. It includes features required by admins and users, now let’s go through them one by one below.
Key Features of the Bitcoin Exchange Script
In order to establish a strong relationship with your users, it’s essential to provide a platform with comprehensive and valuable features. To achieve this, it’s important to conduct a market analysis and make a list of the features that will be incorporated into your solution.
Now, let’s take a look at the essential features that your Bitcoin exchange script should possess.
Two-Factor Authentication
Two-factor authentication (2FA) is a reliable method that allows users to log into their accounts in a secure manner. With 2FA enabled, the login process is protected and it attracts more users to the platform. By logging in via a protected manner, users can ensure optimal security, which is essential for your platform.
Liquidity Management Tools
To optimize the flow and efficiency of trade, it is advisable to incorporate a liquidity API such as Binance Liquidity. This API is designed to enhance the security and speed of transactions, while the liquidity management tools ensure that each Buy/Sell order is fulfilled on your platform.
Crypto Wallet
One of the key features that facilitate secure trading and transaction withdrawals for Bitcoin users is the crypto wallet. It serves as a storing, transferring, and receiving purchased cryptos. To provide a seamless user experience, it is essential to have an inbuilt wallet or integration through APIs to allow your users to manage their cryptos efficiently.
Trade Match Engine
A trade engine or match engine is a must-have feature in your Bitcoin exchange script. This tool gathers all active trade orders in the cryptocurrency market and organizes them to facilitate new trades when two orders match or are fulfilled.
Multi-Language Support
Having multi-lingual support in your software is an essential feature if you want to expand your platform’s reach to every corner of the world. This feature can help your crypto exchange scale up in various countries, breaking down language barriers and making your trading platform accessible worldwide.
KYC Authorization
The KYC verification process involves the immediate authentication of user-provided documents by an administrator, who then has the authority to approve or deny them. By implementing this KYC verification mechanism, exchanges can significantly reduce the risk of money laundering within their platform.
Admin Dashboard
Only a strong admin dashboard can support the customers for easy handling of trading operations and dispute management of the user on the platform. The dashboard contains valuable data such as user counts, profit amounts, buy/sell orders count, fee settings, and approvals like KYC, fiat deposit/withdrawal, and crypto withdrawals.
Transactions & Trade History
Quick view which depicts the entire transaction details of trader’s transactions with accurate dates, and pending/completed orders. As an admin, you have the authority to view all these trade and transaction details of your users. Also, this feature stores the records of each transaction and trade history to predict imitation.
Analytical Trade Report
Generally, you can track the current progress of the trading market with the help of the option Analytical Trade Report of the crypto exchange script. In the Bitcoin exchange script. The admin can view the analytical trade report especially to identify the Profit Report of your exchange platform from withdrawal and trading in a graph or chart format.
Trade Pair Administration
Bitcoin exchange script comes with pre-defined trade pairs. The admin possesses the authority to view and modify these trading pairs using the trade pair administration feature. Additionally, through customization options, the admin can add, remove, or update the most popular trade pairs on the crypto exchange platform.
Automated Withdrawal Limits
For both fiat and cryptocurrencies, the admin has the capability to set the 24-hour withdrawal limit and manage commission inflow. Traders can withdraw funds within this set limit. After submitting a withdrawal request and receiving approval from the platform’s holders, traders can easily withdraw funds within the established limit.
Reporting Functionality
The system offers downloadable CSV reports related to trader lists, user balances, and trading activities. We can incorporate more detailed reports tailored to your specific business needs. The dynamic and digital nature of these reports allows owners to effortlessly monitor trade data.
Financial Management
The financial management features empower the admin to oversee platform revenue and the balance in the admin account. The admin can estimate earnings and set flexible charges for withdrawals and trades in accordance with the cryptocurrencies.
These features enable you to attract broader userbase and customize the Bitcoin exchange script to meet your specific business requirements. As an admin, you have the flexibility to easily customize the cryptocurrency exchange script to align with your business goal.
