Saturday, February 10, 2018

How to add an Exchange Remarketer feature to your Bitcoin Exchange Software

One of the most essential things for any new Cryptocurrency or Bitcoin Exchange is to showcase a busy and populated order book. A busy & dynamic order book woos your users to start trading on your exchange without any second thoughts( also helps them successfully complete their trade ). To achieve this your Bitcoin Exchange Script must have other Exchanges integrated as Liquidity providers. Once your exchange has a Liquidity provider, you can implement the Exchange Remarketer feature to boost your order book from day one.

NoteBitExchange is a ready-made Bitcoin Exchange Script with Exchange Remarketer feature builtin

How does this work?

Very simple. Once you choose a leading exchange as your Liquidity Provider, you will need to integrate the API of the respective exchange on your Bitcoin exchange software. Once this is done, implement the Exchange Remarketer module. This module duplicates the orders and transactions of the providing exchange you have integrated and shows it up on your site's order book. When your user buys a cryptocurrency on your exchange, the Remarketer buys the exact same amount of crypto from the liquidity providing exchange and sells it to the customer. On the other hand if a user on your exchange sells cryptocurrency, the Exchange Remarketer module will buy the crypto from the user and sell it on the providing exchange. All this happens seamless and lightning fast!

The Exchange Remarketer module should be programmed good enough that it sniffs outages ( if at all ) at the liquidity provider end and pauses itself during such situations immediately and automatically.

The Exchange Remarketer module that is built-in the BitExchange script comes with a suite of adjustable parameters, so your backend team can easily customize the module to key in the required thresholds, depth of re-marketing etc. and boost the order book.Also comes with instant notifications to the admin of your exchange during situations of low balances on your providers exchange or yours. The module also has the latest Cross-FX remarketing capability, so your team can also remarket fiat currencies.

Exchange Remarketer feature in Bitcoin Exchange script

Tuesday, February 6, 2018

Market Maker Bot feature in BitExchange Cryptocurrency Script

One of the most important things you would need to do when starting a new cryptocurrency exchange is seeing that your exchange is kept busy. Especially when you run a P2P exchange, you would need to see that every buyer and seller in your exchange see results as soon as possible. This will kindle their interest to do more trade on your exchange and result in much better profit margins for you.

To achieve this, many a times you would need to make things happen internally. Simply put, you need a mechanism that to a certain extent buys and sells the cryptocurrencies your users put up. The BitExchange script has a Market Maker Bot that can help you achieve this in more than 1 ways.

The Market Maker Bot comes with various settings and features that makes it as flexible as possible. While setting up the Cryptocurrency Exchange, You can setup the bot to act as an agent of the exchange. This agent will be given instructions to Buy Cryptocurrencies from Sellers and Sell out Cryptocurrencies when there are buyers. All this, without creating a loss for the exchange. The Market Maker Bot can be setup to check all the Sell Orders in the exchange ( while also checking the rate of the respective cryptocurrency in the market ).If it makes sense to buy the crypto at the asked rate, the bot will do a match by automatically creating a Buy order.

Similarly, based on your settings the Market Maker Bot will also create Sell orders for a preset margin that is tempting as well to Buyers and at the same time creates a profit for the exchange on the spread.

You can define a variety of parameters to the Market Maker bot like:
- The maximum amount the Bot can use from your reserve.
- The Target price you want to set for the Bot.
- The gap or the spread you would like the bot to trade within the buy and sell order.
- A Refresh time stamp to remove the order the bot has placed that has not been acted upon by buyers and sellers for long.
- The time interval in which it should do activities etc.

On the other hand, the Bot can also be given out to the traders/ users on your exchange to use it in the same manner you are using it to make things happen. That is, a registered user in your Bitcoin exchange can deposit funds or Cryptocurrency and setup another bot ( or any number of Bots ) in his account to do same automated trading.
Market Maker Bot Feature Cryptocurrency Exchange script
Dont be surprised to see situations when a lot many Bots are trading against a lot many Bots in your Cryptocurrency Exchange. Thanks to the Market Maker Bot feature :)