The skeptics have always thought that Cryptocurrency was a fad and the value of it could perish anytime. Right after Facebook’s Libra cryptocurrency was introduced, the price of Bitcoin and other cryptocurrencies shot up to dizzying heights proving them wrong once again. The wide spread adoption of it has started as more companies like starbucks, Facebook.compound Finance etc are putting cryptocurrencies to use with products we use everyday.
Before we talk about building a Non-Custodial cryptocurrency exchange, let’s understand why it’s different from a Custodial Exchange.
Custodial Exchanges are designed in such a way that the cryptocurrencies are held in one single master wallet that the exchange maintains and guarantees for its security. The user accounts created under these exchanges get a private wallet address under this common wallet with which they can store, buy or sell cryptocurrencies.
Though it provides a greater control of funds for the exchange, the onus of investing in security measures to safeguard the funds at all times rests with the Custodial Cryptocurrency exchange as it stores your funds and private key that would unlock the funds. Should the cryptocurrency funds gets stolen due to a successful hacking attempt, the exchange is liable to pay it’s customers and the uncertainty of whether and when they would looms as well.
Whereas the case with non-custodial instant cryptocurrency exchange is that Exchange does not hold the private key or have access to the entire funds.
Instant Non-custodial cryptocurrency exchanges make the trade happen on the fly swapping funds directly from the user wallet every time a trade needs to be done.
How do trades happen on this Instant Non-Custodial Cryptocurrency Exchange Script?
Step 1: Before the trades are placed the funds that need to be swapped are sent to the exchange’s wallet along with the fee for each of these trades to happen.
Step 2: The Instant Non-custodial cryptocurrency exchange script then checks for the best available rate across other compatible partner exchange for the trade based on the priority etc and then completes the trade requests.
Step 3: If you are a seller, the Cryptocurrencies that you had sent to the Instant Non-custodial exchange script’s wallet are sent directly to the recipient’s wallet address after deducting the commission for the transaction. The amount which the buyer had paid to the exchange gets transferred to the seller’s wallet/ bank account. Since the transactions are done on the fly, only the required amount is sent to the wallet of the exchange, the seller doesn’t share the private key.
Step 4: As a buyer, the crypto funds are immediately transferred within minutes (confirmations depend entirely on the cryptocurrency and network speed) to your wallet. You do not have to share your private key as well.
What makes this Instant non-custodial cryptocurrency exchange script different from the ICO App Factory Cryptocurrency Exchange script?
ICO App Factory has already a variety of Cryptocurrency exchange scripts ranging from a P2P Cryptocurrency Exchange Over the counter (OTC) exchange security tokens Exchange Script and the difference is that all of these are Custodial Cryptocurrency Exchange script and available for those who prefer a Centralized exchange based business model.
This Instant Non-custodial Cryptocurrency Exchange script however, allows anyone to offer a hassle free trading experience for their customers who are not comfortable with sharing their wallet details or access to funds in order to maintain privacy and a greater sense of security.
The instant non-custodial cryptocurrency exchange is built with privacy in mind and has been designed in such a way that users can carry out anonymous transactions on the platform easily. Yep, they do not even have to create an account or submit KYC documentation to place trades.
In a centralized exchange, the price range of the cryptocurrency is limited but in an instant non-custodial cryptocurrency exchange script, it compares trades requests across different partner exchange platforms and finds out the best price that would benefit the customer to make the trade happen. All of this is done instantly.
Features of the Clone Script
Heavy duty and Slick TradeView UI to handle trades efficiently. Buy / Sell instantly on the clone script without lag.
Sensei TradeX is the intelligent trading layer that compares the prices in real time across the markets before automatically displaying the best price for your trade. The Sensei knows it all.
The clone script swaps the funds instantly without delay as soon as the trade is confirmed.
The clone script comes with the option of trading anonymously for those who value extreme privacy. No account or KYC needed.
Users can trade on the clone script’s web, Android and iOS interface. Offer great convenience for your users.
Manage disputes or consumer grievances easily through the admin panel with a set of handy dispute management tools we’ve provided.
The API of the clone script is robust and well documented to allow developers to build great features over it.
Marketing Suite is built into the clone script to run email, SMS or Social media campaigns right from the dashboard.
Marketing Campaigns can be scheduled as per the best timings well ahead. Saves you time.