How can I build a bitcoin exchange website?
Christopher In the following article we will show you some of the options available to exchange bitcoin fast, either for a fiat currency or for other cryptocurrencies.
Exchanging cryptocurrencies is not complicated at all. In the beginning, the first exchanges focused on direct person-to-person exchanges. But, this obviously generates a clear security deficiency, and that is that direct exchanges, mostly done online, were a perfect niche for scammers.
To do this, we analyze a series of criteria that allow you to judge which is the best platform that suits your requirements for the exchange of bitcoin and other cryptocurrencies, taking exchange speed as a priority.
Among the criteria to take into account we have:
- Exchange speed.
- Do you need an account?
- Cryptocurrencies available.
- Available payment methods.
- Commissions.
- Available countries.
- Liquidity it offers.
- Security when exchanging.
- Exchange limits.
- Language.
Each platform shown below has been tested, and most of them have a tutorial within Crypto News that teach you how to use it step by step.
Shape Shift
Shape-shift is a platform that specializes in exchanges between wallet-to-wallet cryptocurrencies, that is, there is no need for an intermediate deposit
Features:
Exchange speed: fast, although it depends on the saturation of the network and the required confirmations set by the platform.
Do you need an account ?: Yes, and it requires A ML-KYC verification to be able to exchange. The verification process is automated so it is quite fast.
Available cryptocurrencies: more than 50 different ones, including bitcoin (BTC), ether (ETH) and lite-coin (LTC). It includes stable-coins such as tether (ERC20), USD Coin, and True USD.
Payment methods: exchanges between cryptocurrencies and directly to your wallet.
Commissions: a commission for mining and another for the platform, which varies depending on the volume of exchange.
Available countries: applies, with some restrictions, for residents of the US due to local laws.
Liquidity: average with not so high maximum limits per exchange, which depend on the general trade volume. For example, when making an inquiry at the time of writing, the maximum cap for BTC / USDT exchanges was 3.6 BTC. This can change.
Security: very reliable, because you do not interact with third parties and the exchanges are made directly to your wallet.
Trade limits: varies depending on the pair to trade.
Changelly
Like ShapeShift, Changelly is a direct portfolio-to-portfolio exchange platform.
Features.
Exchange speed: fast, although it depends on the saturation of the network and the required confirmations set by the platform.
Do you need an account ?: Yes, and it requires AML-KYC verification to be able to exchange. The verification process is automated so it is quite fast.
Available cryptocurrencies: more than 50 different ones. The list includes the main ones, such as BTC, ETH, and LTC, among others. It has stablecoins like tether (ERC20 and OMNI), USD Coin and TrueUSD, in addition to binance USD and EURS.
Payment methods: exchanges between cryptocurrencies and directly to your wallet.
Commissions: mining commission plus commission of 0.25% on the total exchanged.
Available countries: there are no limits.
Liquidity: Medium, with not so high maximum limits that depend on the general trade volume within it. When consulting, the maximum cap for BTC / USDT exchanges is 5 BTC. This can change.
Security: very reliable, because you do not interact with third parties and the exchanges are made directly to your wallet.
Trade limits: varies depending on the pair to trade.
Conclusions
As you may well have noticed, network congestion and waiting for the other user in direct exchanges, usually play a fundamental role in the total waiting time, depending on the platform you choose. These are factors that, furthermore, are beyond our control. However, to avoid taking even longer, it is recommended that you create an account in advance, and pass the KY C-AML verification successfully. This way, you won't need to wait any longer than necessary.
Likewise, it is also important to know and know how to use the tools that we present to you in an intelligent way, to protect your savings against possible losses in the market and even have the possibility of acting quickly to earn more cryptocurrencies, even when the market is in the red.