The Crypto world is getting populated and famous at a very high speed, and both fungible and non-fungible tokens face massive growth. Many celebrities, brands, and corporations are working on engaging the crypto world exclusively. The need for a crypto exchange is becoming essential. The crypto exchange offers services like exchanging a cryptocurrency from one platform with another. As the crypto market is being engaged rapidly, there will be an indescribable need for crypto exchange. Wazirx is one of the most reputed and highly stable cryptocurrency exchange platforms that offer P2P connections and many other services.
Wazirx, the leading crypto exchange platform, it is developed and deployed by Niscal Shetty – a young entrepreneur, with his associates. He is working on making Wazirx the first billion crypto giant. Wazirx is primarily known for its peer-to-peer functionality. Wazirx was acquired by the biggest crypto exchange, Battleship Binance. Wazirx growth was about 12 times higher in the crypto market.
Wazirx has a growth rate of 160% even in the pandemic situation, which indicates how stable the crypto market is and how crypto exchanges like Wazirx are needed in the crypto market.
Cryptocurrency Exchange like Wazirx
With blockchain, everything once said “impossible” is now being processed. The same applies to cryptocurrency exchanges like wazirx. It serves as an exchange medium for over 40 currencies. The peer-2-peer trading platform will enable the users to make a trade directly without any medium.
To build a cryptocurrency like Wazirx, we must understand the exact flow of wazirx and how it works. Firstly
Peer-2-Peer allows the participant to directly come along, make the trade, and interact with each other without any medium to intermediate. This Peer-2-Peer only takes place if both bodies are agreed to make the trade. Though there is no third-party intrusion, there is a possibility of moderator intervention if an issue occurs among both peers.
Wazirx – Features and components
- Wazirx uses the real-time open order book to equate the cryptocurrency exchange between both users.
- Wazirx even has its own crypto coin WRX to make the exchange easier and offers traders to make trade easily.
- The significant advantage of wazirx is selling or exchanging the USDT for INR with other currencies.
- The KYC /AML process can be done quickly with a brief period.
- Wazirx’s growth is extremely high in recent times, just like the fungible tokens existing in the crypto market.
- It takes in the Escrow trading concept of Bitcoin and constantly makes an effort to neutralize any threat that takes place.
- They do have an excellent external platform service which increases their mobility and makes them work in any environment.
- Wazirx has the capacity of maintaining millions of transactions per second to release an excellent performance eventually.
Considering all the facts, if you have in mind to develop an excellent cryptocurrency exchange like Wazirx, you should follow all these given guidelines to build one.
Develop Cryptocurrency Exchange Platform like Wazirx
Cryptocurrency exchange development like Wazirx is one of the best ways to stay for a long time in the crypto world. To do that, you must have
- Multiple Cryptocurrency wallet
This wallet should support multiple cryptocurrencies built by various blockchain technologies. They should be interoperable to provide an efficient service to the users.
- Escrow Integration
Escrow integration is where the user who buys products should accept and receive the product only after that seller will get his hand on the funds.
- High-Speed Trade Matching Engine
They allow the users to make high speed matching up with the offers and bidding that a User is available. They are algorithm-based and work without any intrusion.
- Stake the coin
The User will gain the ability to buy and stake the coin for more prolonged use. As long as the currency is at stake, they can sell them whenever they want.
- Atomic Swap
It is a smart contract that offers users to exchange one cryptocurrency with others out of any intrusion of the intermediaries.
Other than mentioned above, the users must have certain features like,
- Self-explanation interface.
- Language support.
- Dispute Management.
- Payment gateway.
- IEO / launchpad.