Reasons to Build an Exchange like Binance | Antier Solutions

Binance crypto exchange was started by Changpeng Zhao in July 2017. Binance is ruling the crypto market in terms of trade volume, token listed, and trading pairs. With a presence in over 180 countries and more than 15 million registered global users, Binance is one of the biggest and popular crypto exchanges.

What makes Binance a renowned exchange?

The popularity of Binance is due to the following:

• Binance offers two types of trading levels to its users — basic trading level and advanced trading level. The basic trading level is generally for the beginners and the advanced trading level is for the professionals or experts.
• There is no compulsion for crypto traders to go through a KYC or AML verification process. However, users without KYC and AML verification are allowed to withdraw a specific amount of cryptocurrency in a day.
• Binance offers a referral program to better engage new and existing users. Whenever a new user joins Binance exchange through a referral link, the existing user is rewarded with a bonus.
• Binance has also developed its virtual gifting platform named Gifto and token launch program named LaunchPad.
• Binance offers over 591 trading pairs (according to a report published by Binance), allowing users to diversify their investment portfolios.

Build a crypto exchange like Binance

The following are the factors that you need to take into consideration while building a crypto exchange platform. Have a detailed discussion with your bitcoin exchange development company and start your crypto exchange development journey.

Just like Binance, your exchange should offer both high-volume and small-volume crypto assets. According to CoinMarketCap, there are over 5,000 cryptocurrencies on the crypto market and you should aim for getting the maximum coins integrated into your exchange. BTC, ETH, XRP, CMT, MNR are a few to mention.

Binance charges as low as 0.1% transaction fee. For instance, when a user trades 1 BTC, he/she is charged 0.001 BTC as a transaction fee.

The transaction fee that you charge should not put a hole in your users’ pocket and should be convenient for the users to pay.

Your crypto exchange should be highly-secure since it’s going to hold users’ information and funds. Integrate the right security features into your exchange to prevent data hacking, cybercrimes, and unauthorized access. Develop a secure encrypted architecture along with password generated user authentication.

You can also offer referrals or other reward programs to bring more users to your platform.

Partner with Antier Solutions

Antier Solutions is a leading cryptocurrency exchange development company that provides customized cryptocurrency exchange development solutions to global clients. Backed by a team of experienced blockchain engineers and subject matter experts, we create a trifecta of technical prowess, domain knowledge, and coherent roadmap to drive your cryptocurrency exchange development journey.

Schedule a free demo of our white label cryptocurrency exchange or connect with our subject matter experts to share your business requirements.

Originally published at https://www.antiersolutions.com on June 8, 2020.