Secured Cryptocurrency Exchange Script
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Secured Cryptocurrency Exchange Script
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Basically, cryptocurrency exchanges are decentralized in nature. Nowadays, cryptocurrencies are big targets by anonymous hackers and online scammers. Crypto exchange has large sums of money. So most of the cyber attackers target to steal digital currencies. Even though most of the popular crypto exchanges got hacked by the cyber attackers. Such as binance, bitstamp, bitfinex, Mt.Gox, and more. As for now, about 54% of crypto exchange websites have security holes. Moreover, $1.7 billion worth of cryptocurrencies has been stolen from the crypto exchanges by anonymous hackers.
Currently, there is a vast buzz prevailing for starting a secured cryptocurrency exchange. You might have planned to start your crypto exchange with a stunning UI/UX feature to grab audience attraction. But there are some essential security features that are more important for a secured bitcoin exchange software.
As the modern world is witnessing rapid growth in advanced technologies. Through this rapid growth, it has some good causes. but on the other hand, it is more favorable for malicious activities. To overcome the prey of cyber attacks and scams. Here are some essential security features that will safeguard your cryptocurrency exchange from any threats.With particular interest in Bitcoins and cryptocurrencies, creating cryptocurrency exchange scripts become a creative idea. The perceptive of Bitcoins and cryptocurrencies is emerging at its best.Make your cryptocurrency script with all the essential features to build a secured bitcoin/cryptocurrency exchange website.
Features of Cryptocurrency Exchange Script
(i) Multiple currency pairing and integrated wallet
(ii) Multi lingual match and trade
(iii) Simple customization and BTC wallet
(iv) Auto withdrawal limit and advanced CMS
Categories of Exchange Scripts
There exist four major categories of exchange scripts are as follows
(i) Open source
(ii) Cheap scripts
(iii) White label cryptocurrency exchange script
(iv)Full custom cryptocurrency exchange
Cryptocurrency Exchange script Plug-in and API’s
- KYC/AML integration
- Bitcoin Wallet API
- Efficient matching algorithm
- Automated Trading Bot
- Margin Trading & Lending
- Decentralized Features
Altogether, it is a known fact that cryptocurrency exchanges may be complex, on the other hand, it is also to be understood that in all the complication, there is no compromise on the fundamental features that are required.It is vital to interest your cryptocurrency exchange script creation to a company like ICO App Factory, a leading cryptocurrency exchange development company which has its expertise in multiple industries and also in all the aspects surrounding a cryptocurrency exchange like the market, technology, liquidity, and security.
Powerful security features for cryptocurrency exchange script
Registry Lock is commonly used as an additional security layer to the cryptocurrency exchange. It helps to lock the domain name in the registry level. So it enables the domain name owner to lock down the domain information. It blocks the name of various operations. Such as content modification, DNS server modification, domain transfer, and domain name deletion. It protects your exchange by blocking unauthorized changes or illicitly deleting the essential elements of your domain. Also, these features do not allow any anonymous hackers to check or modify the registration details.
2.Two-factor Authentication (2FA)
Two-factor Authentication is mostly enabled in all digital-based platforms. This feature acts as a secondary security system in most of the crypto trading platforms. Even social media applications, Gmail, and more platforms use this feature for high-level security. In cryptocurrency exchange, it has two-layer of security. Only after entering two verification passwords, you can access the credentials or transactions.
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3.Integration of cold wallet
A Crypto wallet allows the user to send, receive, and transfer digital currencies securely. This feature plays a vital role in crypto trading platforms. Because without this feature, they can not deposit or withdraw their funds. It also monitors the user’s crypto balance and transaction history. Here public keys and private keys are completely used for secure crypto transactions. There are two kinds of storage type in the crypto wallet. Such as hot and cold wallets.
It is a commonly used security feature for most of the platforms. Such as bank transfer, Paytm transfer, app lock, and more. This security feature helps your cryptocurrency exchange to have an authentic login. Also, it will prohibit unnecessary logins which will be highly vulnerable. Only the crypto exchange owner of the exchange can log in to the exchange platform using the biometric system. It reduces your time of logging rather than entering a pin or password.
This feature provides the security to your crypto exchange platform vaults. If the user has to transact any crypto or token from the wallet. Then it requires multiple security keys to perform the transaction. Without a key, you can not withdraw funds from the wallet. Also, for each transaction and withdrawal, it generates the new alternative security key.
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