There are more than 300 million individuals using crypto assets, and approximately 500 digital assets exchanges worldwide. Meanwhile, the global crypto market capitalization, even in the middle of a worldwide recession, crypto markets exceeds $900 billion dollars. A crypto broker platform is an ideal option for institutional investors and financial service providers to venture and offer crypto trading services. This article comprises the essential components one should keep in mind while choosing a crypto broker platform.
Is The Crypto Broker Platform The Same As The Exchange Platform?
Buyers and sellers interact in an exchange platform. An exchange platform is an online solution where buyers and sellers can trade crypto or fiat currencies based on market prices. The users should keep an eye on the price fluctuations and market factors to learn when to sell, hold, or buy.
A crypto exchange platform sounds like something for someone with innate knowledge in the field. The difference between a crypto exchange and a crypto broker platform lies in the fact that the former enables peer-to-peer trading i.e. direct trade between buyers and sellers. Meanwhile, crypto brokers facilitate trading among crypto traders with large liquidity pools across over-the-counter(OTC) markets. The pools are used for sales, making crypto broker platforms quicker, more adaptive, and easy to use. Global crypto exchanges like PayBito offer white-label crypto broker platform solutions allowing institutional investors to venture and earn attractive commissions from facilitating crypto-trading within curated crypto traders with high liquidity.
Also Read: Generation-wise Crypto Investment Strategy
Crucial Components Of A Crypto Broker Platform
White-label crypto broker platforms make the process of setting up a crypto broker service hassle-free. The key essential components of a crypto broker platform include:
Intuitive User Interface
The first part of creating a platform is the user interface. It should be appealing and captivating. The interface should not be complicated so that a user from any background can easily use it.
High-Performance Matching Engine
The matching machine helps to match sellers and buyers, allowing transactions. A good platform should be pinned with a powerful engine.
The platform should have high liquidity. In other words, your platform should have a long list of currencies; there should be more payment streams, multiple order access, and more. You can also use trading bots to improve your liquidity.
A good crypto wallet is essential as it is how your users can hold or transfer assets. The wallet should be compatible with multiple currencies. Popular crypto broker platforms offer multi-signature hot and cold wallets for both online and offline storage.
There are more than twenty leading cryptocurrencies in the world. A good crypto broker platform should support trading all these currencies. Moreover, the users should be able to transact using any fiat currency of their choice for buying crypto.
State-of-the-Art Security Features
There is no point in offering all features and allowing hackers to swipe all the currencies quickly. The only way to build credibility is by creating cutting-edge security by providing features like HTTP authentication, Anti-DDoS, Anti-DoS, data encryption, CSRF protection, data encryption, and more. In March 2020, 667 million crypto malware were detected. So, security is paramount.
There are several cryptocurrencies worldwide, and several rules and regulations govern each based on the geographical location, type of transactions, and more. Thus, the crypto broker platform should have compliance with all legal frameworks.
Efficient Maintenance and Support
Around-the-clock maintenance is a fundamental criterion for any service, and the same extends to crypto trading platforms as well. It is hard to understand how practical a platform’s support and maintenance are until something goes wrong. Thus, it is best to stick to top players like PayBito.
AML And KYC Requirements
Any institute that offers financial services should take KYC and AML. An efficient KYC and AML process provides real-time visibility throughout the network. A good verification will allow you to validate the users, avoiding illegal activities or scams.
A good crypto broker platform should have ERC20, SegWit, Firebase, and BIPS compatibility. There should be efficient wallet management and other custom solutions. Apart from these, the platform should be accessible via all devices with different operating systems like iOS, Android, Windows, and more.
The primary component of a good platform is easy to use. The UI/UX of the platform should be easy to use, and there should be additional trading features like algorithm trading, trading modules, multiple order types, fiat integrations, report generation, and more.
PayBito, which started the world’s first white-label crypto broker platform service, also offers several additional features. Click here to register with a free 1-month trial and gain access to the following exclusive features of PayBito:
Crypto collateralized loans allow users to get essential funds when needed. Most platforms use Bitcoin as the standard collateral to get fiat denominations for trading.
A good platform should allow using crypto for capital market trading. Choose a platform that has allocated capital in this market.
Some platforms offer banking solutions for cryptocurrencies. You can get better interest than regular banks. These digital banks also provide current and savings accounts similar to a fiat bank.
It is a common requirement to have a high-secure gateway for transactions. However, such a gateway should also have a lesser fee and offer instantaneous payment methods. The gateway should also allow cross-border transactions and remittances with ease.
White label crypto broker platforms are growing in demand among institutional investors and financial enterprises interested in making an entry across the growing crypto markets. Rising worldwide crypto adoption, combined with the global recession and fluctuating fiat valuations make PayBito’s regulation-compliant crypto broker platform an industry standard for capitalizing on the mainstream acceptance of digital assets.