Features are the main things in a Centralized Crypto Exchange Platform that facilitate the trading process of Cryptos and Tokens. Implementing advanced features into your CEX platform will make your business more successful.
In this blog, you can learn about the ultimate feature list of the CEX platform.
Features of Centralized Crypto Exchange Platform
Here are the 10 Ultimate Features of a Centralized Crypto Exchange Platform.
1.Crypto Wallet
The crypto wallet enables users to store different types of cryptocurrencies. There are mainly two types of cryptographic wallets, namely Hot and Cold wallets.
Hot wallets are accessible online, and they are quicker and more practical to use. Cold Wallets are more secure than hot wallets but less practical because they can only be accessed offline.
2.User Interface
User-Interface is the focal point of any Crypto platform for exchanging cryptocurrencies between users. User interfaces make it easy and simple for users to access various information on the platform.
3.Crypto Swapping
This feature allows users to exchange one crypto for another directly within a crypto platform. Makes it easier to switch between different types of cryptocurrencies without having to use a traditional exchange.
4.Advanced Security Measures
The platform has advanced security features to protect the user’s data and prevent hacking attacks.
Two-factor authentication, Cold storage, Encryption, anti-bot verification, web protocol security, domain name system security, Anti-DDos Modules, IP whitelisting, Rate limiting, Bug bounty programs, and Basic security measures are the important security features of the platform.
5.Trading Engine
The Trading Engine is what powers the cryptocurrency exchange, and it maintains access to order books, generates new trades, calculates balances, matches offers and bids on the crypto exchange platform, and performs crypto transactions.
6.Staking Module
This feature allows users to take part in the process of staking their cryptos on the exchange platform. Staking is the process of keeping and locking up a certain quantity of cryptocurrencies in a crypto wallet to maintain a blockchain network’s operations and receive rewards.
7.Crypto Loans
Users can borrow crypto assets with the crypto loan feature by pledging their own cryptos as collateral. Users can get liquidity through this kind of feature without having to sell their current crypto holdings.
8.Grid Trading
This feature is one of the automated trading strategies, in that the traders can place an incremental order below and above a predetermined price level. This trading process is kind of an endeavor to get profits from the volatility of the crypto market. Typically, it uses grid trading bots to execute automated orders to create a successful grid trading strategy.
9.Payments Methods
The platform has different types of payment methods, and additionally, it has an advanced QR code feature that facilitates transactions.
A camera on a user's device can be used by crypto wallets to scan QR codes for trading. And also, Near-field communication allows you to include touchless payment options.
10.Customer Support
If users are new to the platform, it is necessary that they receive specialized support. So the platform provides customer support features to its users. Because many users don't have to sift through a lengthy list of FAQs to find the answers to their questions.
Final Thoughts
Hence, these are the ultimate features of a Centralized Exchange Platform. You need to ensure that these features are included in the development period of your platform.
If you are interested in starting a CEX platform, then you need to hire a Centralized cryptocurrency exchange development company in order to become successful in the crypto business.
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