COVID-19 CRISIS Uncategorized

Tips To Protect Your Crypto Exchange Business From COVID – 19 Pandemic

Currently, the hot topic in all channels and websites is about coronavirus. It is almost a deadly virus. Which kills a single infected person in a few days. Many people died due to COVID-19 all over the world. This made a pandemic situation and the governments of many countries announced temporary lockdowns. 

This temporary lockdown affected many poor people, IT industries, startups, entrepreneurs and business people. Also, it affected the education and economic growth of our country. This pandemic situation pushed many people to dangerous situations. Because of lockdown, many people across the world become jobless. also, they don’t know how to make money from home.

But, I suggest to those people starting a cryptocurrency exchange business is the best and tricky way to earn money quickly. The Cryptocurrency exchange is a website to sell, buy, and exchange any digital assets. If you are an owner you can set your own fees for withdrawal, deposit and exchanging the digital assets.

 Also, you can become rich after this pandemic COVID-19 situation. You can use the trusted first-class cryptocurrency exchange script to launch your own exchange platform instantly according to your business requirements. If you are already having an exchange platform. Then this article will be very useful to protect your cryptocurrency exchange business from the COVID-19 pandemic situation.

There are some tips to prevent your exchange trading platform from the COVID-19 pandemic. They are

  • Integrate advanced security systems
  • Enable secure bitcoin wallet
  • Set a low commission fee
  • Providing COVID-19 notifications 

Integrate advanced security systems:

Due to this COVID-19 pandemic in recent days, many crypto scams have happened and hackers have also stolen many cryptocurrencies from the popular exchanges. It is due to the security holes and there are no proper security systems in the exchange platform. Integrating the cutting-edge security features will protect your trading platform from the hacks and scams. Some of the security systems that you can enable in exchange platform to protect from this COVID-19 pandemic are

  • Data encryption
  • SQL injection prevention
  • Anti denial of service
  • Two-factor authentication
  • Jail login
  • HTTPS Authentication
  • Anti Distributed Denial of Service
  • Cross-Site Request Forgery (CSRF) protection
  • Server-Site Request Forgery(SSRF) protection
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By integrating these security systems in your exchange trading platform will definitely help you to overcome the hacking. So choose the finest bitcoin exchange software with these security features before starting your own crypto exchange business. 

Enable Secure bitcoin wallet:

Bitcoin wallet plays a vital role in the exchange trading platform. It is mostly used to store, send and receive a wide range of cryptocurrencies. Also, it monitors your balance in the exchange platform. The Secured bitcoin wallet is more important in this pandemic situation. Hacker’s main focus is to steal cryptocurrencies from the wallet. There are two types of storage in the exchange trading business. Such as the hot wallet and cold wallet. The Hot wallet is online storage. Whereas cold wallets are offline storage.

Storing your cryptocurrencies and crypto tokens in the cold wallet is safe and secure in this pandemic situation. Also, integrate the multi-signature vaults and two-factor authentication in bitcoin wallet for additional security. So it helps to protect your cryptocurrency exchange platform and your cryptocurrencies stored in the wallet.

Set a low commission fee:

Assigning the low commission fee is the best tricky way to protect the exchange platform and gaining users. So that users can buy and sell easily and nobody leaves your exchange platform. Also, many new users will create new accounts. This is an added advantage for your trading platform. After this pandemic situation, you can slowly increase your commission fee and you can earn enormous amounts of profits.

Provide COVID-19 notifications: 

As for now, many applications and websites provide COVID-19 notifications to spread awareness among users. If you are an exchange owner, then you can also provide all the information, news related to hacks, scams, and thefts of cryptocurrencies in an exchange platform. So that the users can stay alert. Also, you can reduce the scams and protect your exchange platform in this COVID-19 pandemic.

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Final Thoughts:

Currently, we can not say how many days the lockdown will extend. It may take two or three months. So start your own online business now. I suggest you start a cryptocurrency exchange business. because it is the best and tricky way to earn money in a hassle-free manner. You can launch your own exchange trading platform instantly by using the premium bitcoin exchange software. If you start your crypto exchange business now, after this pandemic situation you can earn ample amounts of profits.

Hey, This is Harley Quinnzel, Crypto Writer at Coinsclone. I have a great passion for Cryptocurrency & Blockchain technology and love to share my ideas through impeccable content. also, I am very good at writing effective content about cutting-edge technologies and recent trends. If you don't find me involved in writing, I will be a great bookworm.