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Planning to start a Cryptocurrency Exchange today? Try the BitExchange Cryptocurrency Exchange script to start your own cryptocurrency Exchange.
In this Video, we show you how to use/ test BitExchange Cryptocurrency Exchange. We have broken down the tutorial into multiple modules for you to easily understand and try the script out to see if it is suitable for your business. 🙂
In the first part of the How to start a Cryptocurrency Exchange Help Guide, we discuss how your users can:
Buy Cryptocurrencies on your Bitexchange system’s Cryptocurrency Exchange Script
What is a P2P Cryptocurrency Exchange Script?
‘Peer-to-peer’ (P2P) or ‘decentralized’ exchanges are operated and maintained exclusively by software and the owner of the exchange.
P2P exchanges allow the participants of the market to trade directly with each other without any trusted third party to process all trades.
‘Regular’ cryptocurrency exchanges are companies, which serve as intermediaries between their customers and make a profit by collecting fees. Conversely, the interactions between counterparties on peer-to-peer exchanges are directed exclusively by pre-programmed software, with no requirement for human middlemen.
This alternative approach has a number of comparative advantages, as well as downsides. Overall, the peer-to-peer cryptocurrency exchanges are vivid examples of the decentralization philosophy.
BitExchange is the only Ready-made Cryptocurrency script in the market that provides both P2P and Regular exchange features.
Why is BitExchange the best option for you if you plan to start a cryptocurrency Exchange today?
BitExchange makes it easier to implement security measures when you plan to start a cryptocurrency exchange.
The basic security that most exchange scripts have skipped, we have them in place. Check the list of all security measure taken here:
– Sophisticated API layer to easily add any New ALT-COINS easily.
– Engineered for Performance. Tested for up to 40,000* concurrent Transactions. (With Suitable hardware)
– Modular and secure design that enables easy addition of any Payment gateway, Bank etc.
HOW TO TEST THE BUY FEATURE IN THE BITEXCHANGE CRYPTOCURRENCY EXCHANGE SCRIPT?
Here we guide you through the step by step instructions on how to test each of the flows on the cryptocurrency exchange script.
Let’s test the “BUY” flow of the BitExchange cryptocurrency exchange script.
STEP 1: Register on BitExchange demo site
STEP 2: Once registered and logged in, you land on the Dashboard.
STEP 3: Before you buy a cryptocurrency, you would need to make a deposit fiat currency into the account, and for that you would need to enter your bank details.
In a fully live version of your exchange script, a customer would have to transfer the amount from their bank account to the exchange’s bank account and enter the transaction details on the system, so you can verify the transaction details and approve the transaction.
Since the script is in demo mode, you can enter demo details and they will approve it in the admin panel for you.
Click on the “Bank Accounts” button on the left navigation tab,
Step 4: Once you are on the Bank accounts page, click on the Add account button, you will be taken to the section where you can add your bank account.
Enter the respective details and click on add account to save the bank details.
Step 5: Now let’s make a deposit. Click on the Add deposit button
Step 6: Once you have added deposit, you can start trading after the admin has approved the transactions.