If we want to buy and sell stocks, we need to open a portfolio with stocks broker or a securities company. To trade the new breed of cryptocurrency, we need to open an account with a cryptocurrency exchange. Anyone interested in owning a cryptocurrency or a digital asset needs to think long and hard about where to buy them safely, securely and for a good price.
Bitcoin and cryptocurrency exchanges allow trading of multiple different cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and many others. These cryptocurrencies can have trading pairs associated either with fiat currencies (such as the United States dollar, Pound sterling, the euro or Japanese yen), or matched against other cryptocurrencies.
Many crypto exchanges also support secondary markets for trading security tokens issued under Initial Coin Offerings by private companies (ICOs).
What is Digital Assets Exchange?
A digital asset exchange (DAX), or digital currency exchange (DCE), is an online business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional government-issued fiat money or other digital currencies. Some digital currencies may be represented and backed by entire classes of real-world commodity, such as valuable metals (like gold and platinum) and real estate shares.
Crypto exchanges usually strive to have diverse financial options for depositing and withdrawal of funds - they may accept PayPal and credit card payments, bank wire transfer deposits and withdrawals, or other forms of payment in exchange for cryptocurrencies or digital assets. A cryptocurrency exchange can also take on the role of market maker that takes the bid–ask spreads as a transaction commission for its service or simply charges fees for the bid-ask matching services.
What can you do with the Cryptocurrency Exchange Software?
You can operate the next-generation online marketplace to facilitate trading of stocks, digital assets, cryptocurrencies and security tokens.
- Send and receive any existing cryptocurrencies
- Plug-in external payment systems and options for deposits and withdrawals of cryptocurrencies and fiat money
- Perform customer verification (KYC) through out-of-the-box interface or completely outsource it through API connections
- Issue and manage new tokens to digitalize assets - create, mint/burn and freeze/unfreeze
- Create trading pairs between different cryptocurrencies and fiat money
- Execute orders to buy and sell represented assets through created trading pairs
- Watch the TradingView-powered market charts to monitor prices and market activity for different market pairs
- Explore the transactions history and blocks on the chain via different interfaces
- Customize the customer and administrative User Interfaces with React libraries to take any form and shape
- Design and develop more tools and libraries to improve and enhance your OpenDAX-powered cryptocurrency exchange
Let's build your Bitcoin and cryptocurrency exchange together!
OpenDAX is a fast, secure and flexible engine to power up your platform for the exchange of Bitcoin, cryptocurrencies and digital assets. Talk to technical sales for more details on platform architecture and a free cryptocurrency exchange software demo.
You can also have a more detailed read through Openware Blockchain development SDK resources on platform components and modules.