In the crypto ecosystem, the crypto trading platform has become an integral part. Through this, one could save the cryptocurrencies and accomplish the trading process with ease. This would considerably bring benefits to the investors in the long run. Despite this, entrepreneurs can even reap their benefits by launching the cryptocurrency exchange platform. Here is insightful information for those who want to enter the crypto ecosystem with a cryptocurrency exchange like Poloniex.
Poloniex Clone – A Quick Overview
Poloniex is a crypto-asset exchange with the functionality of letting users have a safe trade experience. It supports the exchange of multiple cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and other altcoins. Its operational replica is available in the market termed Poloniex Clone, allowing the entrepreneurs to launch a crypto trading platform in the shortest turnaround time. The following sections will give a valuable insight into its functionality, prime features, and benefits you can expect.
Proven Facts: Why To Launch A Cryptocurrency Exchange Like Poloniex?
“The total crypto market cap in February 2021 was 992,358,685,504 USD which has increased and reached 1,615,817,255,926 USD in January 2022.” This seemingly is not a constant element, which will considerably vary from day today.
“Poloniex being one of the most preferable cryptocurrency exchanges, with 2 million active users and generating revenue of $16.4 million per year.” Thus, it is an illustrious thing to consider for cryptoprenuers to launch a platform like Poloniex.
Prime Features Of A Crypto Trading Platform Like Poloniex
A well-designed crypto exchange platform enables users to exchange different cryptocurrencies without any hassles. This is to be achieved with the infusion of the right set of features. The features that are to be given utmost importance during crypto trading like Poloniex development are as follows.
- Two-Factor Authentication – Two-factor authentication is quite requisite for a crypto exchange platform. This will ensure secure trading between users and prevent fraudulent activities. The supported wallet of the platform stores the cryptocurrencies in a safe manner.
- Real-time Pricing – The price of cryptocurrencies is a varying element, which is primarily dependent on the market demand, supply, availability, etc. Thus, the infusion of the “live price tracker” feature will facilitate the users to check the real-time price of the cryptocurrency. From this, they would have a clear idea about the digital coins that they have to trade.
- Automated Withdrawals – Without the intervention of any third parties, users can withdraw their cryptocurrencies to their registered crypto address in an automatic manner. This is made possible with the integration of a smart contract in the Poloniex-like crypto trading platform. One considerable thing is they cannot withdraw beyond a particular limit that has been set on the platform.
- Multiple coin support – The wallet holds the cryptocurrencies before the exchange in a secured manner. However, the support of multiple digital coins ensures that the platform users holding any cryptocurrency can perform exchanging without hassles.
- Domain registry lock – This feature provides full protection to the crypto trading platform like Poloniex by locking the domain at the initial stage. Apart from this, it will not allow anonymous ones to use the platform and change the domain name at any cost.
- Referral Program – The reward system incorporated into the crypto exchange will enable the platform users to refer their friends and relatives to use this platform. Upon a successful referral, you could consider offering rewards. This would actually make the users visit the platform again and again.
How Would The Cryptocurrency Exchange Like Poloniex Work?
Here is the general breakdown of the working flow of a cryptocurrency exchange like Poloniex. Get a look at it.
- In the beginning, the users have to sign up on the platform with valid email addresses and passwords for creating their accounts.
- Once done with this, the verification link will be sent to the registered email address so they can activate their account.
- After finishing the initial step, they have to complete the KYC (Know Your Customer) process by specifying the relevant details such as license, passport, address, etc.
- For ensuring their accounts are secure enough, they should continue with the two-factor authentication.
- In order to get going with crypto trading, they have to fill up the required fields for initial funding. It would also include specifying the bank details on the platform.
- Now, they can decide to place a buy order upon choosing the available cryptocurrencies available on the platform.
- When the order is being processed, the users will receive the chosen cryptocurrency, which will be saved in their wallets.
- On an ending note, the platform owner (admin) would levy the charges from the users as a transaction or gas fee. This is how the admin would have a significant percentage of revenue out of it.
Benefits Of Utilizing A Poloniex Clone Script To Deploy A Crypto Trading Platform
The significant growth of the crypto world is one considerable reason to say launching a crypto trading platform will be the best choice in today’s world. However,Develop Poloniex Clone Script instead of going for the traditional development is an added advantage. Broadly saying, the one who leaps into crypto space with this solution would have benefits in every aspect. The major benefits are mentioned below.
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Quick Deployment
In comparison to the customary way of developing a crypto trading platform, choosing the Poloniex Clone Script will ease the process. With required modifications, the solution will be readily available for launch, that too within a short duration.
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Customization option: Accommodate Additional Features
Its customization and scalability attributes would make the solution modifiable with the inclusion of required features to make the platform more seamless.
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Pre-crafted using the up-to-date technology
The Poloniex Clone Script is actually capable of accommodating the salient features, ensuring the functionality of crypto trading, and providing a flawless experience. This is made possible when the solution is built using the latest technology.
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Reliable platform with a global reach
With the embodiment of features like multilingual and multi-currency support in the Poloniex Clone, you could get reach a global audience. Thereby, building wider opportunities for you to have considerable revenues.
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Provide users a smooth transaction experience
It is a centralized crypto exchange platform with the support of quick transactions, ensuring the trading process is more seamless. Furthermore, the cryptocurrencies stored in the wallet are secured and can be transferred with the required authentication.
Ending Point,
Not long ago, the cryptocurrency exchange took a new dimension. Taking this into consideration, this seems to be a broader opportunity for techpreneurs to deploy a similar platform. Well, are you so eager to lay your foundation in the crypto sector? Hire developers or approach the company for materializing your ideas. Get it done and launch a crypto exchange like Poloniex!