The high growth in popularity of cryptocurrency guide the modern community to resort to using advanced technologies to create, store and exchange these cryptocurrencies.
Thinking of launching a crypto exchange software in India, there are various important things you should know before starting the process. Read the following text to gain some information about cryptocurrency exchange development in India.
Cryptocurrency exchange software development
A cryptocurrency trading platform is a payment gateway source to make trading easier for traders. Therefore, we say that payment gateway “cryptocurrency” is a method of transferring payment easily to one or the other source and exchanging money in USD.
Exchange software development in India
Cryptocurrency exchange trading software is customized and scalable, it is created by experienced blockchain engineers by focusing on security, connectivity, and a seamless environment.
They build complete, reliable bitcoin exchange software, which has the features like easy and fast transactions.
Along with this, the latest technologies enable us to provide solutions for developing cryptocurrency marketplaces. The most important problem is security. The level of hackers and other cyber fraudsters is growing very actively.
Cryptocurrency exchange regulation in India
Right now there is no ban on the use of cryptocurrencies or any cryptocurrency regulation in India. The reserve bank of India order banning banks from supporting crypto transactions was reversed by the Supreme Court order of March 2020.
The cryptocurrency and regulation of the official digital currency bill, 2021 is still listed for introduction in parliament’s winter session seeks to prohibit all “private cryptocurrencies” in India. However, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses.
Let’s review the regulation of cryptocurrency in India
In March 2020 a significant development took place. The supreme court of India lifted the curb on cryptocurrency imposed by RBI that was restricted banks and financial institutions from providing access to banking services to those engaged in transactions in crypto assets.
The cryptocurrency and regulation of official digital currency Bill, 2021 is listed for introduction in Parliament’s winter session seeks to prohibit all “private cryptocurrencies” in India. However, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses.
In November 2021, the standing committee on Finance met representatives of crypto exchanges, blockchain, and crypto-assets council, among others and they came to the conclusion that cryptocurrencies must not be banned but must be regulated.
How does cryptocurrency exchange work?
- The cryptocurrency exchange software matches the two people, one for selling and the other one for buying the particular cryptocurrency exchange.
- In the next steps, the exchange of the value takes place via the payment processor, the local currency is transferred which will support non-reversible payment.
- For more security, a tiny amount of cryptocurrency is held from the seller and buyer
- As agreed before the transaction will continue until the seller receives all the payment and the buyer receive all the cryptocurrencies.
Different types of cryptocurrency software development
Decentralized crypto exchange
Hybrid crypto exchange platform
Things to do before developing an exchange website
Before starting your cryptocurrency exchange website in India it’s better to check the steps below:
Step1: clearly know what features you want to implement in your website
Step2: how much money do you want to spend on this project
Step3: choose the method you want to develop your website with
Step4: choose a reliable company for developing your exchange website
The thing to pay attention for choosing a company
choosing the cryptocurrency exchange software development company is one of the important factors for developing an exchange website so you have to take some actions before starting the project with your chosen company. we have listed some top development companies down below and also some factors to pay attention to before choosing the cryptocurrency development company in India.
- Their previous customer feedback
- Check the background and the previous project of the company
- Their field of expertise
- have a convincing plan of what they are going to do
Top cryptocurrency exchange development company in India
One of the top blockchain development companies that have over 50m users that use their apps. SoluLab has worked with 500 enterprises to high-growth startups including Walt Disney, Goldman Sachs, and more. Solulab has more than 180 industry experts. If you look through their past history they have completed 1500 projects completed in 15 countries. They have offices in India, USA, and UAE working across client’s time zone.
Openexcell was established in 2009 and headquartered in the USA, OpenXcell is a leading resource hiring and software solutions development company famous for providing the top 1% talent in the IT industry, with highly skilled resources of over 10 years of domain experience. They have worked with 750 entrepreneurs.
OpenXcell has offices in India and USA. This software development company has developed more than 3000 mobile apps that were submitted in app stores which are currently used by 15 M active users globally. Openxcell team manager of each project makes a great communication with the clients to get the feedback of the clients and imbed them into the platform you have ordered.
Technoloader is a blockchain development company that provides a wide range of services based on blockchain such as blockchain development, supply chain development, cryptocurrency exchange development, cryptocurrency MLM development, dapp development, multicurrency wallet development, and hyper ledger blockchain development.
we summarized their clients’ feedback with the little search among their clients, their clients are completely pleased with what they have got at the end of the project time. They were satisfied with the outcome of the projects. They were also pleased with the pricing, it was worth the cost that they have paid.
Bitdeal is a cryptocurrency software and blockchain Development Company. The main focus of this company is to reduce the risks in Bitcoin trading and help startups by providing a well-developed or a cryptocurrency or secure and robust crypto exchange software. Bitdeal is popular for providing complete blockchain solutions, which include smart contract development. The services Bitdeal provides are:
Cryptocurrency exchange script
White label cryptocurrency exchange software
Bitcoin escrow script
Decentralized exchange script
Binance clone script and famous cryptocurrency exchange clone script
With several years of experience, radindev is one of the leading companies in the field of blockchain development. they have put all other focus on the crypto exchange software development and blockchain development.
Radindev has developed various Whitelabel crypto exchange platforms for the clients and they have plenty of completed projects that are currently active.