How Do I Develop a P2P Crypto Exchange Platform?
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Decentralization is the key feature of a cryptocurrency, but not every crypto has same level of fit. As more and more people are investing in cryptocurrencies, the process of decentralization is taking the mainstream.
There are two types of exchanges, centralized and decentralized. Centralized cryptocurrency exchanges are similar to the existing one which we are using today. The decentralized exchanges are new to the market, they rose to popularity due to blockchain technology.
Local Bitcoins and Xcoins are the two emerging P2P Crypto Exchange Platform and there are many other new exchanges which are coming up each year. But still, there is no well-established one who has gained the trust of the audience. So, this gives a lot of scopes for any exchange to get a stronghold in this sector.
If you are looking to develop a decentralized exchange like Local Bitcoins, it is necessary to know the advantages, disadvantages, monetary benefits and other things. And, most importantly, creating a digital currency exchange consumes a lot of time, money and energy. If you’re creating your own exchange then you need to spend at least 6 to 8 months of time. In the meantime, you will find a new set of competitors entering the market which may lead you to lose the competitive advantage.
Instead of spending energy in developing your own exchange from scratch, you can avail white-label exchange solution from the market. Blockchain App Factory is one of the best cryptocurrency exchange development company. We will help you develop a multi-currency exchange platform like local bitcoins.