Crypto Exchange

Learnings from (trying) to build a Cryptocurrency Exchange:

  1. I was able to leverage my understanding of the cryptocurrency landscape, including fundamental concepts of blockchain technology, decentralized finance (DeFi), and the workings of different cryptocurrencies.

  2. Differences between centralized & decentralized crypto-asset exchange. The former is hosted on a central server (like any traditional software), and the latter works directly on a blockchain (like any dApp) and each comes with its own pros and cons.

  3. Onboarding for exchanges is not providing social logins but needs to factor in key requirements like KYC and ID collection for AML compliance.

  4. Defining Requirements: CEXs use essential features such as multi-coin wallets, transactions, trading pairs, order types, security measures, compliance requirements, user authentication, and KYC (Know Your Customer) procedures.

  5. Creating a seamless and user-friendly experience is vital for the success of a cryptocurrency exchange. Through wireframes and high-fidelity designs, we prioritize user needs, streamline the user interface, and ensure intuitive navigation.

  6. Security is of paramount importance and I learned a ton about implementing rigorous security measures such as two-factor authentication (2FA), encryption, multi-signature wallets, and cold storage.

The project was put on ice after major regulatory changes.

©2023 Dheeraj C

©2023 Dheeraj C

©2023 Dheeraj C