What Can You Expect from a Cryptocurrency Exchange?

 

As cryptocurrency prices rise and fall, so do its exchanges. Just this week, there was a news story that caused a dramatic slump in cryptocurrencies. People waiting for the much-anticipated cryptocurrency market bubble were disappointed, although there's no way to know if such an event will happen. Digital Yuan is a digital currency which is used in China. 

With that said, the price of bitcoin was up for the week, and others such as ethereum and ripple also saw a slight gain. But the overall cryptocurrency market has been going up in the past few weeks. According to CoinMarketCap, bitcoin was up nearly 18 percent as of Dec. 5th.

While you can speculate that the market may be experiencing a bubble, a cryptocurrency exchange such as Coinbase gives the best insight into what is happening in the cryptocurrency world.

Like most popular online platforms, Coinbase offers a wide range of currencies to buy, trade, and store. There's bitcoin, litecoin, ethereum, and a handful of other currencies that you can spend money with. All of them have been gaining in popularity over the past few weeks. But which ones are the best?

Bitcoin 

Back in January, bitcoin made headlines when its price hit $1,000 for the first time. At that time, bitcoin was gaining in popularity, but not enough people realized it. However, bitcoin has been the most popular cryptocurrency with a market capitalization of more than $100 billion.

Bitcoin is the first and only currency that utilizes the blockchain as its primary mechanism of transaction. In bitcoin's case, the blockchain is a network of networks that allows people to securely and anonymously transact. This is important because transactions are recorded on public and permanent ledger of transactions called the blockchain. Transactions are verified in turn by a group of computers on the network, making it difficult to tamper with them.

The blockchain, by the way, is also what allows cryptocurrency to function. As users transact using the blockchain, the blockchain establishes trust with those users. This trust shows a new record for the new transaction, making it much more difficult for an entity that doesn't have the form to create a fraudulent new transaction.

Blockchain is also what allows cryptocurrency exchanges to work. Once a transaction is finalized, those who owned the blockchain record that the transaction was made agree to re-trod the record. But the blockchain network is also a decentralized network of computers, allowing those users to work together in the event of an attack to validate and re-establish the blockchain.

But the blockchain also has its drawbacks. Because the blockchain is open to all users, it's vulnerable to hacking attempts. And even though bitcoin and the blockchain is public, transactions made in cryptocurrency can be kept private. Bitcoin, for example, is an online payment system that has its own distinctive digital currency that is purchased and used on bitcoin exchanges.

One of the best things about bitcoin and cryptocurrencies in general is that it has no centralized authority. While the U.S. dollar is essentially a centrally run currency, bitcoin does not have any central authority, making it attractive to many people. Plus, bitcoin can be divided into 100,000 small units, making it easy to use with

 Security standard for crypto exchange

To establish high level of cryptocurrency exchange script, one should have secured premium cryptocurrency exchange script. Some flagship products meet all the cybersecurity checks.

• Cybersecurity score check
• Penetration tests
• Bug bounty 

We always try to ensure that our cryptocurrency exchange script don’t break any security rules. 

1. SSL / TLS Certified
2.  Reference Policy
3. Strict-Transport-Security
4. X-Frame-Options
5. Content-Security-Policy
6. X-Content options
7.  Feature-Policy
8. Cookie Security 

Penetration Check

Our cryptocurrency exchange script has gone through all the penetration testing successfully conducted by the security team. Thus, the vulnerabilities may cause massive damage for the users and exchange as well. 

Bug Bounty

We also conducted a bug bounty program with the help of our security team. It is done after the success of each development process. 

Final words

Indeed, the cryptocurrency exchange standard is not only for the security checks of exchange, but it also helps o rank your cryptocurrency based on the security. If you are looking for a secure trading platform, join Yuan Pay Group now!!