CryptoCoinPrediction.com is not responsible for the article’s content or accuracy and may not share the author’s views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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Since developing the exchange software for starting a cryptocurrency exchange is highly complex, its development and debugging can take a whole year or even more. Keep in mind about the time involved, the professionalism of your developer team heavily influences the amount of required time.

The qualified team requires a lot of resources for successful development. I barely estimated the cost for such a development. But it’s different depends upon the features you want and it can’t be exactly determined. For example, creating an exchange with white label your brand takes additional resource time for deployment. So do your own research and analyze the market pricing and proceed further.

There are different types of scripts such as Open source, cheap scripts, pre-packed white label and custom bitcoin script.

Open source: It is the public exchange software that anyone can use it according to the needs. It has to be handled by the technically qualified. Otherwise, it’s a headache. The open source script is available in github and other online resources.

Cheap script: Some companies offering cheap script similar to the opensource but with the special price tag. There is nothing more special in this.

Pre-packed white label script: It is much expensive than above two because it comes with the support of development company that created them. Any support can be easily handled by the expert team.

Custom script: It is the tailored made script with specific customization and goals. It is the most recommended one to appeal that it can be hassle-free.  Cryptoexchangescript.com is giving custom-made bitcoin exchange trading script.

Steps to develop bitcoin exchange:

There are some primary things needed to start bitcoin exchange. Before starting you have to,

  1. Get proper legal counsel to ensure licensing requirements are met in your country.
    Attain funding for starting a venture.
    3. Find a best technology solution provider who had better experience.
    4. Connect your exchange with other exchange for added liquidity.
    5. Partner with a payment gateway processor.
    6. Implement best security practices.
    7. Go live via beta testing before launching the website.
    8. Start marketing & PR campaign to reach your exchange to the intended users.
    9. Provide seamless customer support.
    10. Keep a legal team for ongoing compliance and regulations.

 

How to get a liquidity provider:

Bitcoin exchanges are not familiar and legalized in all countries. So, the trading volume and transactions may differ in each country. If you are new startup who recently started or want to launch new bitcoin exchange in your country, then how to get a liquidity provider when opening an exchange?

There is some leading liquidity providers offer premium API for the exchanges. When you install the liquidity API in your new bitcoin exchange website, then the trade volume is automatically shown in the exchange.

Again I ‘m saying that the development is not like what you think. It needs high end technical skills to develop and test the trading platform whether it’s working or not. 

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What does it take for Bitcoin to achieve mass-adoption?

CryptoCoinPrediction.com is not responsible for the article’s content or accuracy and may not share the author’s views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

What does it take for Bitcoin to achieve Mass-Adoption?

The biggest obstacle for Bitcoin right now is, that so few people use Bitcoin. But why do so few people actually use Bitcoin from a day-to-day basis? Well, the answer is, because so few people use Bitcoin. That might sound a bit confusing right away, but I will explain myself.

Bitcoin has the obstacle to overcome, same as Facebook. Facebook became so valuable, because literally every friend of yours, and their parents where using it. If no one used Facebook, then I really doubt it would be nearly as valuable to humanity as it is today.

The same exact thing also applies to Bitcoin. What makes money valuable, is the fact that you can pay anybody for anything with it. Good luck paying your local supermarket in Bitcoins. It just doesn’t make sense to do so.

This is also called the network effect. It sates, that a system is only so valuable, as the number of people using that system.

So, let’s dive into the 3 deciding factors, that must happen for Bitcoin to fully achieve mass adoption.

First, of course, is the support by a big corporation or even country. For example, if a big company like McDonalds starts to accept Bitcoin, then people would be more inclined to make purchases with Bitcoin. This makes total sense, because why would anybody adopt the usage of Bitcoin, if you couldn’t make any real-world purchases with it? Exactly, it doesn’t make any sense whatsoever.

The first point was pretty obvious, so let’s look at the other deciding factors, that are crucial for Bitcoin to be mass-adopted.

Did you actually know, that a third of the world’s population, 2,5 million adults to be precise, do not have access to the banking system? Yeah, what people in the first-world countries take completely for granted, isn’t all that common all around the world: A bank account. On the other side, many more people in these third-world countries do have mobile phones, but no bank accounts. So, what if all those people start using Cryptocurrencies, like Bitcoin, for their online and day-to-day transactions? They could skip the traditional banking system and directly buy and sell Bitcoin from their smartphones. If one third (or even less) of the world population starts to use Bitcoin, it will gain world-wide recognition and overtake any other currency.

The third scenario that could happen, is that a major economic collapse or abuse occurs. When this happens, lots of people will want to transfer their wealth to something that isn’t dependent on any country or government, but is universally accepted in every country of the world. There aren’t many options for such things. One of these things is, gold. And the other could be Bitcoin, which I see as the digital version of Gold.

I hope we will never have to experience such a catastrophic event in our lifetime, but it sure is a positive thing for Bitcoin, since lots of people will adopt it.

These are all the point I could think of. Thanks a lot for reading and have an awesome day! Visit me at flashipcrypto.com for more Crypto-article?