Insights Into Decentralized White Label Cryptocurrency Exchange Software, Its Benefits And Use Cases
Posted: Jan 03, 2020
The trading on a decentralized exchange happens between two traders without any intermediaries. There is no centralized control over their transactions. Crypto traders can carry out decentralized trading on exchanges powered by white label crypto exchange software with the private keys and full security. The trading is carried out straight from their cold or hot wallets.
Let’s witness how decentralized white label crypto exchange works:
- The buying and selling request is submitted to the relayer to host the order book
- After this, a counter-order is created by an interested party on the other side by signing the order book digitally.
- Now, both these crypto orders are sent to the smart contract on the Blockchain, which will execute the trading transaction and transfer the cryptos to the user’s wallets.
Besides, the decentralized white label cryptocurrency exchange software consists of many benefits, including,
- The privacy of the traders is maintained as they can register on the decentralized white label crypto exchange platform without providing their details. All the trading transactions carried out here are anonymous.
- Hackers cannot steal the cryptocurrencies easily from the wallet as DEX has decentralized nodes and uses distributed ledger technology. This averts the risk of hacking.
- The data remains private and safe in a decentralized
- The traders here carry out trading without any third-party intervention. This makes decentralized exchanges safe in comparison to other forms of crypto trading.
- The decentralized exchange platforms use Smart Contracts. These are highly secure, and trading parties just have to use their private keys to carry out crypto trading. You do not have to share personal details.
Use Cases of Decentralized White Label Crypto Exchange
- Atomic Swaps: An atomic swap is a smart contract technology that enables the exchange of one cryptocurrency for another without using centralized intermediaries, such as exchanges. Decentralized exchanges use atomic swaps for crypto trading. Thus, there is no involvement of mediators and cryptos can be of the user’s choice.
- Hot and Cold Wallets: Hot wallet refers to any internet-connected cryptocurrency wallet. It is usually easier to set up hot wallets, access them and accept more tokens. Cold storage refers to any wallet that is NOT connected to the Internet in cryptocurrency. The enterprise solutions are provided for managing the hot and cold wallets. DEX supports only cryptocurrencies, so trading becomes manageable.
- Use of Digital Assets: The Bitcoin Exchange Software helps in buying and selling of the cryptos. The digital assets support in trading.
- Secure Personal Identify and Transaction: Since the transaction is performed between buyers and sellers, it remains private between them only. Also, traders can sign up for the exchange platforms with minimum information.
To sum up, it is significant to choose the decentralized exchange platform that is credible and trustworthy. Espay is one such platform that is compliant with top-notch security authorities and makes trading seamless.
Espay Exchange is a leading & specialize in the security token exchange, forex exchange solutions and cryptocurrency exchange software development company.