Latch on to the exciting opportunity of starting your own crypto exchange now in India!
It’s hardly been four months since 2020 and most of us are already constantly nagging about how difficult this year has made our lives. But, this year did bring thrilling news to the crypto community. What was it? Let’s take a brief look!
Latch on to the exciting opportunity of start your own crypto exchange now in India!
Cryptocurrencies Ban lift – A glimpse :
On March 4th 2020, The Supreme Court of India passed a judgement, lifting the ban of cryptocurrencies in India. The trading of cryptocurrencies has always been warned against in India because the RBI considered the crypto business was risky. As a result of this, in early april 2018, RBI banned the use of cryptocurrencies in India.
To paraphrase the above statement, The Reserve Bank of India prohibited banks from providing services that facilitated individuals and business entities in dealing with cryptocurrencies. They stated that the move was essential to restraint “ ring fencing” of the country’s financial system. And they also mentioned cryptocurrencies were not to be treated as reliable currencies as they were not properly stamped by the government. But earlier, this year, the supreme court lifted their ban due to the disproportionality and with RBI shortcoming of the facts to prove cryptocurrencies were a risky business. This news fetched great joy for the crypto community!
Even though the account of crypto users from India was stated only at 3% before RBI’s ban, it is believed that, after this lift, there is going to be a tremendous growth in the upcoming years. Cryptocurrencies and crypto exchanges have already been gaining huge traction globally and are tremendously evolving. With this news, the opportunities have expanded to India too! Many budding entrepreneurs are aspiring to try their hands with crypto exchange business to spin huge profits for their venture. If you are from India, and you have a crypto business dream, there is no better time than now to create your own crypto currency exchange and go viral in the market. To do so, you need to know the cryptocurrency exchange development process in and out. Before diving into that, if you’re a beginner, let’s take a look at what crypto exchanges are and their benefits.
What is a crypto exchange? How is it useful?
A cryptocurrency exchange is a medium that allows traders from all over the world to exchange their cryptocurrencies for other cryptocurrencies, digital assets or fiat money. A cryptocurrency exchange is underpinned by blockchain technology. Blockchain technology helps control, verify, and secure transactions that happen on the exchange, by a chain of blocks coded with cryptography. In this digitally evolving world, cryptocurrency exchanges along with blockchain, are completely revolutionizing every major industry and taking the businesses to the next phase. This is mainly because of the many benefits involved with exchanges and blockchain, compared to traditional stock exchange businesses. Let’s find out what the benefits are.
Key benefits of crypto exchanges alongside blockchain technology:
- Instant, Efficient, peer-to-peer transactions
The traditional exchange businesses involve many complications such as added expenses ,brokerage fees, commissions from involvement of third parties like brokers, agents etc. It also involves a lot of conditions and paperwork. But with cryptocurrency exchanges, all that stress is put to rest. Cryptocurrency exchanges allow direct peer-peer transactions anytime, from/to anyone around the globe. The transactions are instant, efficient, and highly-secure.
- Easy access:
As cryptocurrency exchanges are completely digitized, it is very easy to access. Anyone with an internet connection can conduct crypto transactions, anywhere at any point of time.
- Individual ownership
With traditional banking/ credit cards, the control over your funds eventually goes to a third party which results in them deciding the life and death of your assets. Your accounts might be closed without proper notice. But with a crypto exchange, you are the sole owner. You can entirely own and decide anything that happens with your public and private keys, your identity, address etc.
- Blockchain Immutability
The primary reason few businessmen hesitate to set up crypto businesses is because they are concerned about hack threats. But with blockchain technology backing your exchange, you have nothing to worry about. Blockchain has an immutable nature. Transactions once recorded, cannot be altered/ interchanged. Also, when a third party tries to hack/enter, the user gets an alert which enables a risk-free business.
- User anonymity
In blockchain based cryptocurrency exchanges, the user’s identity and information is completely anonymous. Blockchain completely secures the user’s interest helping with hassle-free transactions.
- High-end security
As blockchain is coded with cryptography, the crypto exchange transactions are end-to-end and completely protected. This enables smooth, secure transactions not only locally, but all over the world.
These are the top core advantages you can avail with crypto exchanges. Now, to build your own exchange, you need to first go through four important steps to make sure your exchange is legitimate to sustain in the long run and shine over your competitors.
The four essential steps to build an authentic crypto exchange:
- With the widespread demand, it is mandatory to conduct extensive research to understand the market needs, and to provide solutions that fit the needs.
- In Depth analysis on existing competitors to provide unique solutions which will drive investors towards your exchange.
- Take advice from experts on legal procedures, financial aspects etc. It is mandatory as there are not many exchanges currently in India. Experienced people can give you the right insights to make your business withstand in the market.
- Last but not least, hire an experienced cryptocurrency exchange development company!
Building an exchange from the ground up, will consume ample time, money, and requires qualified technical assistance. Whereas, purchasing whitelabel crypto exchange solutions from a top company, will give you many benefits. White label solutions are ready-made solutions that come along with a name, branding, logo designs, every necessary technical, security, and feature integration. One such reliable company that provides 100% pre tested whitelabel solutions for your exchange. The expertise helps with real-quick, cost effective solutions that will make your exchange a hit in the market.
What does a whitelabel crypto exchange consist of?
- Multi-currency support
- Multi-Language support
- Multi currency secure wallet
- Liquidity API integration
- Automated KYC/AML integration
- Admin backend panel
- Powerful trade matching engine
- Order sharing
- Advanced Blockchain technology and smart contracts integration
- Integrated referral program
- High-end security integration
Apart from this, their white label cryptocurrency exchange software is also highly programmable, scalable, and can be customized according to your preferences. So, make use of this widely-open million dollar business opportunity. Get in touch with them, attain whitelabel solutions and go viral in the cryptosphere!
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Author: Arya Florence
- Coinbase-powered Oobit Launches Crypto ‘SkyScanner’ Equivalent with Integrated Fiat Gateway
- Messari Analyzes Q1 Performance of XRP, Says Ripple’s Crypto Sales Strategy Having Little Impact on Price
- Oobit Kicks Off Platform for Comparing Crypto Asset Prices
- Nomics Update – Mobile App Upgrade, New Crypto Exchanges & More
Coinbase-powered Oobit Launches Crypto ‘SkyScanner’ Equivalent with Integrated Fiat Gateway
SINGAPORE, SINGAPORE / ACCESSWIRE / April 11, 2020 / Oobit is delighted to announce the launch of its gateway solution for the cryptocurrency sector. Users will gain access to multiple features, including the ability to compare prices and offerings across different exchanges, as well as a single KYC passport for use on multiple trading platforms. Oobit has also partnered with Coinbase for the provision of wallet, escrow, and custodial services, meaning users are assured of a high degree of security.
Oobit empowers users of all levels to identify trading opportunities across all sources of liquidity, bringing visibility and trust to the entire cryptocurrency ecosystem.
The core features of Oobit are as follows.
Oobit Hunter is to cryptocurrency what Skyscanner or Expedia are to flights. It’s an AI-driven liquidity aggregator that discovers the best prices by searching across various fiat to crypto onboarding platforms. Users access the feature via an intuitive web interface.
Hunter comprises two parts. It provides a peer-to-peer trading service, similar to that offered by LocalBitcoins, using Coinbase’s trusted and highly secure infrastructure for escrow and digital asset custody. It also acts as a search engine for trading opportunities across worldwide exchange platforms.
Oobit Hunter can provide value to anyone from newcomers looking for the best place to buy cryptocurrencies with fiat, to advanced traders seeking to profit from exchange arbitrage.
Oobit Pass is a unified know-your-customer (KYC) passport that enables users to submit their personal information once so that they’re pre-verified for trading on multiple exchange outlets. It uses advanced face and optical character recognition for fast approval, reducing the wait time to start trading.
Cryptocurrency exchanges can opt into the service, thus reducing their own KYC burden and streamlining the onboarding process so that traders are up and running immediately after signup.
All personal data and documents stored on Oobit Pass is secured with military-grade local encryption to protect against identity theft.
Oobit Direct offers a fast and easy means of using a credit or debit card to buy cryptocurrencies within minutes.
Oobit xMap offers merchants the business tools they need for integrating cryptocurrencies into their operations. This may be for payments or to gain exposure to the growing cryptocurrency community. The map shows all crypto ATMs and physical exchanges across the globe.
Lastly, Oobit Wallet is a cryptocurrency wallet integrated into the broader Oobit user interface and powered by Coinbase. While Oobit operates the wallet architecture, user funds are stored on the Coinbase custodial wallet. Currently, it supports Bitcoin, with zero deposit fees and only a nominal fee for withdrawals. Integration with more cryptocurrencies is coming soon.
The Oobit Team
Oobit is led by a team experienced in areas including finance, marketing, and private equity funding. Amram Adar, co-founder and CEO, previously led the development and design teams in Wacetech Investments Ltd. Moshe Schlisser, Chairman, is the co-founder of Shefa Capital, before which he served as Managing Partner of Iberica Investments.
Speaking of the Oobit launch, CEO Amram Adar said:
“We are delighted to bring Oobit’s multifunctional incentivized gateway solution to cryptocurrency users across the globe. Whereas most established industries have comparison platforms that make it easy for users to decide between the products and services of different providers, until now, there has been no such solution for cryptocurrency users. We believe the launch of Oobit will play a pivotal role in helping traders worldwide make decisions about buying and selling cryptocurrencies.”
Users can also look forward to other new features arriving soon. These include a crypto-to-crypto (C2C) exchange service and Oobit Pay, a debit card which will provide users with a fiat denominated wallet and allow them to convert crypto to fiat once loaded to their card.
Oobit started in 2017 as a simple P2P trading community where users could connect to buy and sell Bitcoin. However, in order to ensure users could access the best liquidity, the company evolved to develop a web-based platform to identify trading opportunities worldwide, bringing trust and visibility to the entire cryptocurrency ecosystem.
Oobit’s incentivized gateway solution can handle millions of trades posted on Oobit annually, across more than 70 locations worldwide. Oobit makes it fast, simple, and secure to buy, sell, and trade anywhere, any time.
For more information please visit: www.oobit.com
Messari Analyzes Q1 Performance of XRP, Says Ripple’s Crypto Sales Strategy Having Little Impact on Price
A new report from Messari shows XRP is the worst performing crypto asset in the first quarter of 2020 among the 25 largest cryptocurrencies – sans Bitcoin.
BTC, the leading cryptocurrency by market cap, began the year at $7,236 and ended the first quarter at $6,384, an 11.77% decrease. XRP began 2020 at $0.1939 and ended the quarter at $0.1740, a 10.26% decrease.
XRP’s pullback comes as Ripple forges new partnerships designed to leverage the third-largest cryptocurrency through the company’s liquidity solution, dubbed On-Demand Liquidity (ODL), Messari notes. Mexico’s top Bitcoin exchange Bitso says it’s using XRP as a bridge currency to power 2.5% of all remittances between the US and Mexico.
Messari also highlights Ripple’s strategy of easing XRP sales, which started in the second half of 2019.
While Ripple has long stated that its sales of the crypto asset are too minuscule to influence its price and are relatively small compared to the daily volume of XRP, the company has dramatically scaled back on its routine programmatic sales. It sold zero XRP in the fourth quarter of 2019 on cryptocurrency exchanges while also decreasing sales to institutions over-the-counter. According to researchers at Messari, the reduced sales are having very little impact on the price of XRP.
In addition, Messari comments on Ripple’s securities lawsuit, which is expected to “march on for the foreseeable future.” Lead plaintiff and former XRP investor Bradley Sostack claims that Ripple illegally sold XRP as an unregistered security and breached US securities law. In February, a federal judge denied Ripple’s motion to dismiss the lawsuit.
Oobit Kicks Off Platform for Comparing Crypto Asset Prices
Oobit announces the launch of a crypto gateway solution which will work across various digital exchanges with a single KYC to use on them all
Singapore-based company Oobit spread the word about its new gateway solution for crypto traders being ready for launch. Apart from that, Oobit has struck a partnership with the Coinbase exchange. The latter will provide a crypto wallet, custody services and escrow for the users of Oobit’s new product.
The new platform is called Oobit Hunter and it works on the basis of AI, allowing crypto traders to compare prices of various digital assets across numerous cryptocurrency exchanges, which use both fiat and crypto.
Apart from Hunter, the company has also created Oobit Pass – a unified KYC passport. Traders can use it for their pre-verified accounts on various crypto exchanges by submitting their personal data just once.
Oobit has also launched Oobit Direct (for quick purchasing of crypto via bank cards), Oobit xMap and Oobit Wallet. xMap allows entrepreneurs to integrate crypto into their business processes and payments.
Author: Sat, 04/11/2020 – 14:00
Nomics Update – Mobile App Upgrade, New Crypto Exchanges & More
You are here: Home / Newsletter / 🗞 Nomics Update #28 – Mobile App Upgrade, New Crypto Exchanges, Flippening #74 & More
Welcome to this week’s Nomics Update, our way of keeping you in the loop with everything that’s happening here at Nomics. We’ve been busy. Over the past few weeks, we’ve released more than 20 episodes of our new podcast series Daily Wisdom and added dozens of crypto exchanges to our website and market data API.
We’ve also launched our fully customizable daily crypto newsletter. Each issue includes pricing info for the cryptocurrencies of your choice plus updated market cap, volume, and Bitcoin (BTC) dominance data, the day’s most active coins and crypto exchanges, and the latest market news.
It’s easy to subscribe:
1. Visit the signup page
2. Choose a delivery time and time zone
3. Enter your email
4. Click “Customize My Newsletter”
And now, your weekly Nomics Update.
- #1. 📱 We’ve Added Individual Asset Pages to Our Mobile App: We’re pleased to announce that our mobile app now includes individual asset pages. With a tap, you can access real-time charts as well as market cap, volume and transparency data for Ethereum (ETH), Litecoin (LTC) or any other cryptoasset on our site. This feature is live for both the Android and iOS versions of the app.
- #2. 📈 We’ve Integrated 28 More Crypto Exchanges: This week, we added 28 more cryptocurrency exchanges to our website and market data API. Lucent, Float SV, Rfinex, Huobi Japan, Huobi Indonesia, ViteX, Bidesk, and Altmarkets were added with “C” Transparency Ratings for providing us with recent candle data.
Five Star, WhaleEx, VCC Exchange, Tokenize, Saturn Network, GMO Japan, ExMarkets, Vebitcoin, CME, B2BX, Resfinex, TokensNet, Lukki, FinexBox, Tokenlon, Tokocrypto, Velic, IncoreX, Zebpay, and Waves were added with “D” ratings for offering only low-granularity, non-historical ticker information.
For more on our rating system, check out the following essay.
- #3. 🎧 Asia, Crypto & The Coronavirus: Flippening episode #74, Asia, Crypto & The Coronavirus, is live on our blog. We’re joined by Joyce Yang, founder and CEO of Global Coin Research, a content and advisory platform focused on the Asian blockchain and cryptocurrency space. We discuss the Asian crypto scene and how the local market might rebound from Coronavirus.
- #4. 👀 Another Nomics.com Ticker Sighting: Our latest sighting is courtesy of Bitsreach.com, a Chinese-language crypto news site. They’ve placed our pricing widget in the sidebar – right below the login button.
If you’ve embedded our free cryptocurrency pricing widget on your website, let us know. You might be our next Nomics.com Ticker Sighting. For more on the widget, read the announcement post.
That’s all for this week. Thank you for being part of our growing community. 🌱
Co-founder and CEO of Nomics. Board Chair and Co-founder at Leadpages/Drip. Passionate about marketing technology, cryptocurrencies, and the decentralized economy.
Author: Clay Collins