Cryptocurrency exchanges are privately-owned platforms that facilitate the trading of cryptocurrencies for other crypto assets, including digital and fiat currencies and NFTs.

You can use exchanges to trade one crypto for another — converting Bitcoin to Litecoin, for example — or to buy crypto using regular currency, like the U.S. Dollar. Exchanges reflect current market prices of the cryptocurrencies they offer. You can also convert cryptocurrencies back into the U.S. Dollar or another currency on an exchange, to leave as cash within your account (if you want to trade back into crypto later) or withdraw to your regular bank account.

1. Development of new structure. When creating a cryptocurrency exchange from scratch, you can better study the features of the cryptocurrency market and go through all the stages of development, starting with the development of the concept and ending with the final release of the product. The basic version consists of an administrative panel, a trading engine, a user interface, a database and a wallet, analytics and records management system.
2. White label solution. This is an adaptation to your brand of a product that has already been developed. A cryptocurrency exchange running on a ready-made engine can serve as a temporary alternative or additional service that you can offer your users. Mostly, the main activity of a buyer purchasing a White label product is not connected with cryptocurrencies; however, it is very similar in terms of subject matter. The crypto platform is necessary due to the increased demand and current trends.

Crypto wallets keep your private keys – the passwords that give you access to your cryptocurrencies – safe and accessible, allowing you to send and receive cryptocurrencies.They come in many forms, from hardware wallets like Ledger (which looks like a USB stick) to mobile apps, which makes using crypto as easy as shopping with a credit card online. Unlike a normal wallet, which can hold actual cash, crypto wallets technically don’t store your crypto. Your holdings live on the blockchain, but can only be accessed using a private key. Your keys prove your ownership of your digital money and allow you to make transactions. If you lose your private keys, you lose access to your money. That’s why it’s important to keep your hardware wallet safe, or use a trusted wallet provider.