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Cryptocurrency exchanges are platforms where people can buy and sell cryptocurrencies. While some crypto exchanges only support a limited number of digital and traditional currencies, for example trading platforms that allow people to buy and sell Bitcoin for USD, others allow people to trade multiple cryptocurrencies, such as Ethereum, Litecoin, or Dash.
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Cryptocurrency exchange is an online platform that acts as an intermediary between buyers and sellers of cryptocurrency. Anyone who wants to buy, sell, or trade cryptocurrency such as Bitcoin, Ethereum, Litecoin, and others, can do this through the cryptocurrency exchange. The exchange accepts cash and cryptocurrency from our users, after that these users are able to trade with each other with the funds that they placed into their balance account. In other words, we allow our users to exchange money for cryptocurrency or vice versa. The platform itself does not buy anything and does not sell anything, only your users do it. Although some crypto-exchanges support only a limited number of digital and traditional currencies, our customers can choose those ones that are worth implementing into the platform. Cryptocurrencies such as BTC, ETH, LTC, and ZEC are set by default.
The platform has the necessary functionality for ordinary users and professional market players. Professional traders will be able to conclude transactions on the exchange of cryptocurrencies, and the developers of the new ICO/ITO will be able to place their tokens. By launching your own exchange of cryptocurrencies, you create a platform for secure transactions between buyers and sellers, allowing all your users to freely trade bitcoins and altcoins.
To open and close positions, exchange applications (orders) are used. A market order and a stop-limit order are distinguished by the type of execution. An order of each type can be used for a buy or a sell. Suppose a user created a stop-limit order, the market price of which is 12 coins at the current moment and the trader assumes that it can go up. He (she) submits the following data to the application: • Stop: 13 coins • Limit: 14 coins • Amount (number): 20 conditional coins The market price rises to 13 after which the system automatically opens a buy order for 20 conditional coins at a price of 14 coins. As a result of the opening of the order, a buy of 17 coins at the price of 14 coins and 6 coins at the price of 15 coins is carried out. The market has grown to 18 coins per coin since the opening of the stop order. Stop limit order allows you to create a deferred (usual) buy or sell order with the specified conditions of the market price and the buy/sell price, at which the system automatically opens this order at the price specified in it.
The withdrawal of the cryptocurrency from the exchange is carried out in the same way as the replenishment of the personal account. On the same page you should choose which cryptocurrency you are going to withdraw. And in the opened window, enter the wallet number where the given cryptocurrency and withdrawal amount will be withdrawn (below the commission fee for the transaction will be automatically generated). Then if necessary click the button enter the code from the authenticator and confirm the withdrawal by clicking on the link that the exchange will send you by mail after the application.
1) Two-factor authorization Two-factor authorization is implemented in the system, which does not allow attackers to log in knowing only the trader's credentials.
Cold and hot wallets All the funds of the exchange are stored in a "cold" wallet and only the system itself has access to it. A hot wallet is used to carry out transactions from the outside (acceptance and withdrawal of funds), and the trade processing takes place inside the system itself (ie on the backend). Thus, the degree of protection of the users’ funds on the platform is increased.
Withdrawal protection Our platform is equipped with a reliable security system that makes the withdrawal process completely protected from unauthorized access. The database of the trading platform contains confidential information about the traders’ accounts. In addition, the trade processing and the storage of users’ personal data are performed on the server side of the exchange. Among users’ personal data, the exchange keeps names, contacts, identity documents, information about all transactions of all traders and other financial data.