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A Reliable and Secure Solution for Crypto Trading
About the client
The customer was a company headquartered in Cyprus and operating worldwide. Its platform works as a secure web interface between professional traders and end-users.
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Project overview
Andersen was approached by a company headquartered in Cyprus and operating worldwide. The customer's platform serves as a secure web interface between professional traders and end-users. The platform allows users to automatically perform transactions by following experienced traders' profiles. Hence the key business task in this context was to help novice traders show positive results using the experience of professional traders. All operations are carried out automatically and maintain a balance between the activity of professional traders and their followers.
App functionality
The resulting solution offers a range of advanced features:
- Timeline, i.e. all the necessary information about activities and their statuses
- The performance chart functioning as a dashboard that allows users to track the performance of the latest activities
- Trading, i.e. an opportunity to trade cryptocurrencies from different countries
- Package solutions, i.e. package subscription solutions for followers and traders
- Information on traders presented as a separate profile page where the results of the recent activities can be seen
- Trader Charts created as a section that shows the best traders covering days, weeks, months, quarters, and years
- A Profit-Loss module, i.e. an analytical section showing the effectiveness of activities
- Watchlists, i.e. information on the traders a user is subscribed to
- Integration with third-party services – all operations performed by followers and traders are carried out via the Binance platform. Andersen has made it possible to identify users from different countries owing to integration with Basic ID and verifications carried out via passport data and photos. As for storing the currency, the Trustology API is used to provide maximum security for storing cryptocurrencies in a wallet
- Portfolio allocation, i.e. an information dashboard containing information on cryptocurrencies that the user is currently trading (for example, Bitcoin, Ethereum, Bitcoin Cash, Tycoon, etc.)
Solution
The resulting social trading platform allows novice traders to competently invest in cryptocurrencies by using the experience of professional investors who work with various cryptocurrency stocks.
Each successfully registered user gets access to extensive application functionality, ranging from the chronology of activities to deep analytics of completed transactions, and manages their investments at a preferred exchange, being able to access their portfolio at any time.
In addition, users can fully automate the trading process by simply following the profiles of professional investors and performing operations on the platform analogously. Via APIs, the platform is connected to stocks where all operations are carried out.
Followers can freely assign a portion of their funds to several traders and set an individual stop-loss if they consider their activities too risky or are not satisfied with the financial result. Following multiple traders helps investors diversify their investment strategies.
Deep analytical tools allow users to get a detailed summary of all operations performed using the day-week-month-quarter model. The platform saves all activities, enables users to access historical data at any time, and conducts a detailed analysis of assets using a specially designed reporting interface.
With the Loss-Profit chart, users can track their results or the indicators of the best traders. All activities of traders are monitored via a secured API connection in real-time and can be copied to a follower’s portfolio automatically.
- Followers have the option to work with the platform anonymously
- Followers can copy strategies of professional traders with little effort
- Traders are ranked by several metrics with the most important one being their performance. Followers can filter them via their options and choose the best
- Both traders and followers benefit from a profit share-based business model
Project results
Owing to our expertise, experience, and hands-on skills, the customer has achieved the following results:
- Paid packages have been introduced for end-users and traders
- The platform has been transferred from a monolithic architecture to a microservice-based one
- Full security of digital currency storage via BIP32-compatible wallets for Bitcoin, Ethereum, and Binance Chain is ensured
- The number of active clients has risen from 5,000 to 11,500 within 8 months
- Fixing activities via ServiceBus (an analog of RabbitMQ) during the deployment of new versions is enabled
- The product has successfully scaled for the European and US markets on the basis of APIs
- The following modules are now connected: Identity Verification and Face Match, AML & KYC Compliance, and Live Data Check, delivered on the basis of BasisID API
- Full compliance with international security standards (KYC, Fraud prevention, AML, and GDPR) is ensured
- The following wallet functionality is now available: viewing the balance of assets; sending assets to anyone (or whitelisted addresses only); viewing trading histories of transactions (with export to CSV); creating addresses to receive BTC; viewing transactions per each address; whitelist withdrawals to selected exchanges ensured
Let's talk about your IT needs
What happens next?
An expert contacts you after having analyzed your requirements;
If needed, we sign an NDA to ensure the highest privacy level;
We submit a comprehensive project proposal with estimates, timelines, CVs, etc.
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