Cryptocurrency can be defined as any form of currency that exist digitally. It has no central regulating authority. And it uses a decentralized system to make records of transactions and manage new units. They rely on cryptography to prevent fraud. Cryptocurrency includes bitcoin, blockchain, Bitcoin exchange and much more. Blockchain is a database that contains information of financial transactions. that can be shared within a large decentralized network.
BUILDING YOUR OWN BITCOIN EXCHANGE
The exchange of bitcoins play a vital role towards promoting the cryptocurrency by enhancing it use. A lot of bitcoin users perform there transaction through exchange. Though bitcoin exchange is not yet the prevailing current of thought. Only a determine group of people mainly investors, risk takers business enthusiasts have adopted bitcoin. Increasing the number of bitcoin exchange could go along way as helping to overcome the resistance to the cryptocurrency’s adopted by increasing its visibility.
HOW TO OVERCOME RESISTANCE TO CHANGE WITH MORE BITCOIN EXCHANGE
Resistance as we all know is one of the factors that slow the spread of a new idea . Most people are resistant to change. Bitcoin technology brings about dramatic change as it is bringing out civilization to the outset of a far reaching technological revolution.
Bitcoin exchange can be seen as a website that alleviate the trading of bitcoin for currency or other digital currencies. You can also store your bitcoins with bitcoin exchange.
One of the main attribute when it comes to selecting an exchange is security. It is adviced that you know how friendly the exchange is and the type of payment options. Payment options includes ( paypal, cash, cards and bank transfer). You should confirm that the exchange is available in your country. Bitcoin exchange varies from country to country for example a citizen of japan have to register with the japan’s financial regulator. There’s nothing like regulation in argentina , though bitcoin transaction may be governed by certain rules of the sales of goods under the civil code of conduct.
HOW TO BUILD YOUR LOCAL BITCOIN EXCHANGE
If you are a risk taker and you want to participate in a massive technological revolution, you can build your own local bitcoin exchange. There are package’s entering the market to help you set up your bitcoin exchange platform.
Software called “BTCTRADER” provides you with a fully branded service that offers you the ability to start your local bitcoin exchange in one month.
This software is mainly for people looking to run a bitcoin exchange without having to invest in infrastructures. The btctrader comes equipped with liquidity. Patners has accesss to full order book from the moment the site goes live.
It is also responsible for features and updates and the safety of all bitcoin balances.