What is the next big trend with Crypto exchanges?
Blockchain development, token markets and cryptocurrency trading are at an all-time high. All of these conditions mean only one thing – crypto exchanges and wallets are thriving. With the substantial growth of trading volumes and the increasing interest in crypto trading, the future of these exchanges seems brighter than ever. But like in any market when the conditions are good competition arises and all the exchanges, new and already existing, need to find a way to maximize profit, whilst minimizing costs and delivery time.
Why more and more exchanges are turning to Crypto APIs
It’s becoming a standard for exchanges to rely on Blockchain as a Service platforms. The reasons are clear: it makes more sense from a financial standpoint, it shortens development times considerably, but it’s also the easiest and most reliable solution.
These are also the reasons why more and more exchanges and wallets are turning to Crypto APIs. Using our APIs when developing a crypto exchange or wallet is as easy as integrating a Facebook login button.
The amount of time that a developer’s team can save is almost unbelievable. Deploying a solution like Crypto APIs will take just a few days, opposed to the 3 to 6 months that would take the same team to do their own integration. The more currencies that the exchange will support, the more time will take them to reach the goal, and more time equals more money. Finishing any job in days, rather than months translates into a considerable saving.
When developing an exchange using Crypto APIs, there are other substantial costs that can simply be written off. Just imagine what the server costs would be to deploy, but also to constantly run multiple blockchain protocols – they would be prohibitive for many start-ups. These costs are also permanent – they cannot be cut or reduced without impacting the stability of the exchange. Our API gives direct and immediate access to more than 10 coins and all ERC-20 tokens – all of it from day one, a hell of a saving! (and product).
When you rely on an API, there is no need to hire a blockchain developer to help with the integrations and you can skip the whole R&D phase of the project – again, another significant saving of both time and money. Dev ops costs is another expense that can be considerably cut by using an API solution like Crypto APIs.
But is it all about time and money?
The recipe for succeeding in a business venture is based on 3 ingredients: money and time are just the first two of them. It’s true that you need to be faster than your competitors and you need to be smarter as well, but the most important element is having a good product.
We make sure to help you achieve that by offering an API. Crypto APIs offers APIs that are the most reliable on the market. Our APIs have a record breaking performance, with no downtime registered since they were launched. This is vital for anyone that wants to venture in the world of crypto exchanges development.
There is also no need to think about forks and updates – we take care of it all. These and many others are the reasons that we pride ourselves being the most reliable APIs provider on the market.
What are exchanges using us for?
Some of the features that are commonly used when building an exchange are:
· Generating & Managing Wallets
Every user registering and using a crypto exchange needs to have hot address associates to that account. With Crypto APIs you can easily generate private-public key-pairs along with an associated public address.
· Getting notifications for certain events
You always need to know exactly what is going on in your crypto exchange. Receiving and managing notifications is vital, a simple example are notifications for incoming transaction.
· Auto Payments Forwarding
In recent times there have been several reports about hacked exchanges and stolen funds. The Auto Payment Forwarding allows you to move automatically a certain % of the whole amount to a cold wallet address.
· Blockchain Information
And obviously, one of the most important things is to have immediate and reliable information about the blockchains you support: Blocks, Transactions, Balances, Confirmations, Fees and others.