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Instant Non-Custodial Cryptocurrency

$5/hr Starting at $25

The skeptics have always thought that Cryptocurrency was a fad and the value of it could perish anytime. Right after Facebook's Libra cryptocurrency was introduced, the price of Bitcoin and other cryptocurrencies shot up to dizzying heights proving them wrong once again. The wide spread adoption of it has started as more companies like starbucks, Facebook.compound Finance etc are putting cryptocurrencies to use with products we use everyday. Before we talk about building a Non-Custodial cryptocurrency exchange, let's understand why it's different from a Custodial Exchange. Custodial Exchanges are designed in such a way that the cryptocurrencies are held in one single master wallet that the exchange maintains and guarantees for its security. The user accounts created under these exchanges get a private wallet address under this common wallet with which they can store, buy or sell cryptocurrencies. Though it provides a greater control of funds for the exchange, the onus of investing in security measures to safeguard the funds at all times rests with the Custodial Cryptocurrency exchange as it stores your funds and private key that would unlock the funds. Should the cryptocurrency funds gets stolen due to a successful hacking attempt, the exchange is liable to pay it's customers and the uncertainty of whether and when they would looms as well. Whereas the case with non-custodial instant cryptocurrency exchange is that Exchange does not hold the private key or have access to the entire funds. Instant Non-custodial cryptocurrency exchanges make the trade happen on the fly swapping funds directly from the user wallet every time a trade needs to be done. How do trades happen on this Instant Non-Custodial Cryptocurrency Exchange Script? Step 1: Before the trades are placed the funds that need to be swapped are sent to the exchange's wallet along with the fee for each of these trades to happen. Step 2: The Instant Non-custodial cryptocurrency exchange script then checks for the best available rate across other compatible partner exchange for the trade based on the priority etc and then completes the trade requests. Step 3: If you are a seller, the Cryptocurrencies that you had sent to the Instant Non-custodial exchange script’s wallet are sent directly to the recipient's wallet address after deducting the commission for the transaction. The amount which the buyer had paid to the exchange gets transferred to the seller's wallet/ bank account. Since the transactions are done on the fly, only the required amount is sent to the wallet of the exchange, the seller doesn't share the private key. Step 4: As a buyer, the crypto funds are immediately transferred within minutes (confirmations depend entirely on the cryptocurrency and network speed) to your wallet. You do not have to share your private key as well.

About

$5/hr Ongoing

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The skeptics have always thought that Cryptocurrency was a fad and the value of it could perish anytime. Right after Facebook's Libra cryptocurrency was introduced, the price of Bitcoin and other cryptocurrencies shot up to dizzying heights proving them wrong once again. The wide spread adoption of it has started as more companies like starbucks, Facebook.compound Finance etc are putting cryptocurrencies to use with products we use everyday. Before we talk about building a Non-Custodial cryptocurrency exchange, let's understand why it's different from a Custodial Exchange. Custodial Exchanges are designed in such a way that the cryptocurrencies are held in one single master wallet that the exchange maintains and guarantees for its security. The user accounts created under these exchanges get a private wallet address under this common wallet with which they can store, buy or sell cryptocurrencies. Though it provides a greater control of funds for the exchange, the onus of investing in security measures to safeguard the funds at all times rests with the Custodial Cryptocurrency exchange as it stores your funds and private key that would unlock the funds. Should the cryptocurrency funds gets stolen due to a successful hacking attempt, the exchange is liable to pay it's customers and the uncertainty of whether and when they would looms as well. Whereas the case with non-custodial instant cryptocurrency exchange is that Exchange does not hold the private key or have access to the entire funds. Instant Non-custodial cryptocurrency exchanges make the trade happen on the fly swapping funds directly from the user wallet every time a trade needs to be done. How do trades happen on this Instant Non-Custodial Cryptocurrency Exchange Script? Step 1: Before the trades are placed the funds that need to be swapped are sent to the exchange's wallet along with the fee for each of these trades to happen. Step 2: The Instant Non-custodial cryptocurrency exchange script then checks for the best available rate across other compatible partner exchange for the trade based on the priority etc and then completes the trade requests. Step 3: If you are a seller, the Cryptocurrencies that you had sent to the Instant Non-custodial exchange script’s wallet are sent directly to the recipient's wallet address after deducting the commission for the transaction. The amount which the buyer had paid to the exchange gets transferred to the seller's wallet/ bank account. Since the transactions are done on the fly, only the required amount is sent to the wallet of the exchange, the seller doesn't share the private key. Step 4: As a buyer, the crypto funds are immediately transferred within minutes (confirmations depend entirely on the cryptocurrency and network speed) to your wallet. You do not have to share your private key as well.

Skills & Expertise

CryptocurrencyFinanceMicrosoft AccessSecurity Consulting

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