Cryptocurrencies, especially bitcoin, have taken the digital world by storm. Bitcoins funds have been introduced to facilitate the digital transactions of assets with no third parties as intermediaries.
All cryptocurrencies work upon the technology of Blockchain, and this Blockchain serves as the public ledger. This decentralized nature of cryptocurrencies enables it to be a transparent system promoting fair transactions. Bitcoin is not dissimilar to this.
Bitcoin and crypto exchanges take place either by centralized exchange companies or decentralized cryptocurrency trading platforms. Though centralized cryptocurrency exchange helps by making it an easier process but the transaction fees cost a fortune, and on the other hand, the risk of getting assets stolen is a different headache. On the other hand, decentralized cryptocurrency exchange happens through cryptocurrency and best forex trading platforms. These platforms are secure and have less risk of market manipulation.
If you are new to the world of cryptocurrency and are looking for cryptocurrency trading platforms, then Bitcoin storm is the perfect pick for you.
However, apart from all the hustle of choosing the right trade platform, please make sure to check out these basic and functional features of the cryptocurrency trading platform. Let’s dive right in.
Features of cryptocurrency trading platform:
When you choose the trading platform for your digital assets and cryptocurrencies, it is very important to have these features in your app or platform. These are the core features that will enhance your journey of trading cryptocurrencies easiest and faster.
- USER AUTHORIZATION AND VERIFICATION
- TRADING ENGINE
- USER INTERFACE
- WALLET
- SECURITY
- API
- ANALYTICS
Let’s talk in detail about some of them.
- USER AUTHORIZATION AND VERIFICATION
When you choose to trade your volatile but expensive digital assets, you would want to avoid risk for the big time. The transactions of cryptocurrencies on the Blockchain are irreversible. In any case, if your assets are stolen, they can’t be brought back. So, user authorization and verification have to be foremost and secure. The verification is the familiarization of the user with the trading application. It is a means of security for the user that also secure their crypto holding.
- TRADING ENGINES
The name suggests that trading engines are the core part of trading platforms. These trading engines are responsible for processing information on prices and commissions. Look and highlight the possibility of transactions, offers, and bids. The main tasks of trading engines are mentioned below.
- Transaction execution
- Keep records of buying and selling transactions
- Maintaining calculation
- USER INTERFACE
For any application to be successful, an interactive and intuitive user interface is a must. East, interactive and intuitive user interface will help user to connect with the app and enhances their user experience. This will help you to navigate seamlessly in the app and understand more about the crypto world and currencies. The dashboard of the app should have these features:
- Market monitoring
- Order History
- Canceling and creating orders
- Help and Support
- SECURITY
The whole world of cryptocurrencies is decentralized in nature. This means there is no central authority governing these cryptocurrencies. For this reason, there might be a risk of getting your assets hacked at the same time. Losing your private and public keys makes it more vulnerable. Thus, it is very important to check up on the following security measures provided by apps.
- Two- Factor Authorization
- Cold storage
These mentioned security measures would help you to keep your assets safe from being stolen or hacked and make your transactions in the digital world more secure.
- WALLETS
Cryptocurrencies such as bitcoin were meant as the alternative to normal currency. These wallets are the most important part. They will store your private and public keys at the same time and will allow you to do exchanges and transfer your currency.
- Always look for multi-wallet functionality. This will allow you to have access to various kinds of transactions.
- The fact that how many cryptocurrencies are integrated with the wallet must be a concern. There must not be limited currencies.
- Wallets should be linked with leading banks and should be sufficient enough to have transactions with ATMs, QRs, etc.
- Multiple payment gateways to buy and sell cryptocurrencies
The Bottom Line
There are mainly two types of wallets one is a cold wallet, and the other is a hot wallet. The cold wallet is more secure in comparison to a hot wallet. Look out for your needs and wants before getting into the app.