5 Cryptocurrency Exchange Features To Look Out For In An Exchange App
Bitcoin is our world’s very own first digital currency. It was established in the year 2008. When you compare its initial stage with how it has changed now, the charts have turned upside down. Undoubtedly, its growth is quite remarkable. Cryptocurrencies paved the way for the evolution of crypto exchanges.
A crypto exchange is a platform that helps a cryptocurrency trader to swap, lend, buy, and sell digital currencies. There are so many exchange platforms available on the market, and each will have a unique set of features. Nowadays, mobile applications are making the crypto exchange processes simple. They come in handy and help trade your assets using the internet.
To deploy your own secure crypto exchange, you need to get help from an enterprise that provides the best cryptocurrency exchange development services. Here are a few features you must look out for in a good crypto exchange application.
1. Cold wallet
These wallets store crypto assets offline and are considered secure. Additional to the default security features of a crypto exchange application, this wallet forms another security layer for the coins. Cold wallets will eliminate the risk of cyber attacks using high-end security components like multi-signature and biometric authentication.
2. Registry lock
A registry lock provides an added layer of security to the domain from hacking. This will not allow hackers to erase any crucial components of the platform. After enabling this lock, a three-layer security check will occur among the participants- the registrar, the registry, and the domain registrant. Ultimately, registry lock help obtains high-level domain security.
3. Web protocol security
The next one is to strengthen the security of the web. Security protocols like HTTPS will prevent the exchange from cross-site scripting attacks. Then, we can verify the web protocol security using CSP (Content Security Policy). Finally, clickjacking attacks on the crypto exchange can be avoided using X-Frame- Options. Using this, we can stop the embedding of content on another website.
4. Anti- DDoS module
Distributed Denial of Service attacks is common in crypto exchanges. They will cause heavy downtime losses. It is the reason why most leading exchanges prefer moving forward with network firewalls to avoid these DDoS attacks. The module that does this is called the Anti-DDoS module.
5. Security exchanges
Usually, all the DNS queries are certified by a specific set of protocols integrated with DNSSEC. It will reject illegitimate DNS entries to the exchange server. They will facilitate the authentication of data with public keys and e-signatures. DNSSEC will get rid of the fraud sites that try to enter the server.
