This is one of the best cryptocurrency exchange app and website which we have developed and successfully delivered to the client. Apart from handling virtual currency, users can also use it for buying different products from the site, for which end to end supply chain management was handled through Blockchain.
Going by the increasing interest in virtual currency and blockchain implementation Jim Taylor wanted to create a platform where users can view consolidated details about their cryptocurrency holdings and can use the same within a wallet.
The client wanted to have a very transparent and efficient way of handling transactions so that there is no third party involved in between. Also, the client wanted to ensure the sanctity of the transactions being done over the platform.
The solution uses API via a backend service that is used for iOS, Android devices, and web application.
Apart from this, a backend portal is also implemented into the exchange application, which allows the user to manage profile. Apart from this it allowed complete management of e-commerce products and allowed complete tracking of supply chain using smart contracts and virtual tokens.
Any user can register in the system and receives an individual cryptocurrency wallet. This wallet is used to store Bitcoins and other currencies.
Money sending transaction can be conducted through the system. Funds are loaded to the user’s account on the app server. The user also gets an option to choose where the money should go and opt the currency it will be sent in.
Purchase of the cryptocurrency is automatically done by the system on the backend, without the intervention of the user. Accordingly, foreign currency is bought after the cryptocurrency is sold. Finally, the user receives the funds in the currency of their choice into their bank account. This is achieved by making the accounts as confirmed accounts.
A successful transaction involves foreign currency being sent to an account with a native currency. Once an account is established, the user confirms their account.
Soon after the application was live, application received a huge interest from the users worldwide and that in turn ensured a vertical growth in users joining in.