How to start a crypto exchange?

Nov 3, 2020 5:08 PM ET

iCrowdNewswire   Nov 3, 202012:08 PM ET

Do you want to quickly and profitably exchange a popular cryptocurrency? Use the instant hot to go service that offers your customers encrypted anonymous transactions. In today’s mini-guide, we’ll talk about the pros and cons of traditional ways to exchange cryptocurrency. We will pay special attention to the GoChain currency and the benefits it provides.

Ways to exchange cryptocurrency

Modern users prefer options such as:

  • Online crypto exchanges. These services allow you to quickly buy and sell popular digital coins. The advantages are the ability to make transactions for fiat money, the simplicity of the interface and (not on all platforms) the ability to trade without account verification, the transaction speed is 10-15 minutes. The disadvantages include a fixed and not the most favorable exchange rate, limits caused by the lack of coins from the service, high commission fees (1-10% and even more).
  • Cryptocurrency exchanges. These sites offer to buy cryptocurrencies at market value. It is also possible to create pending orders to buy or sell a cryptocurrency if its price is expected to change. This method is suitable for traders who are in no hurry to exchange currencies. The disadvantages of exchanges include a rather complex interface, (sometimes) the lack of trading in fiat currencies. Commissions for withdrawing fiat currency from the exchange can be much higher than those in crypto exchanges.
  • Cryptomats are analogous to ATMs. With their help, you can cash out cryptocurrency. Cons: high commissions, few cryptocurrencies available, crypto ATMs are available only in megacities.
  • Meeting in person via p2p platforms such as LocalBitcoins is the most confidential way. Users can choose the seller with the best exchange rate. Cons: it is difficult to find sellers and buyers in a small town, a very high risk of fraud.

Description of GoChain currency

The GoChain project is a public blockchain. The network provides its members with a wide range of services. GoChain has combined many networks. Users just need to send a transaction to this network, and then the transaction, along with the commission, will be sent to the network here that provided the service.

GoChain uses the Proof of Reputation algorithm to build the network. This approach provides almost 100% security and high system resiliency. For users, this means they get easy, fast, and secure interactions with each other and with the network. Any attempts at fraud are punished by deleting the account and blocking the account.

The GoChain blockchain is loved not only by private investors, but also by entire enterprises. The network provides transparency of operations and is also compatible with all Ethereum projects. A special protocol allows the use of a public or private blockchain. Godex.io is one of the fastest exchange services allowing you to buy or sell any crypto coins using the GoChain coin wallet.


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