MultiChange

Multi Currency Exchange Platform

industry: FinTech, Exchange Platform, eCommerce, Analytics

Background 

Ever since the Internet became widespread, it became a hotspot for businesses and regular citizens. You can buy food and clothes, watch movies, and sign legal documents all via the worldwide web. And, lately, with the advent of digital currencies, the process of exchanging money and converting your finances from one currency to another has become a hot topic. With that in mind, Incode Group set out to create a fast and secure platform for multi currency exchange.

 Objectives

Cryptonymous screenshot

Inсode Group has to create a multi currency exchange platform that’s fast, trustworthy, and secure for trading. All requirements of the more regulated industries and bases of modern product design should be met to establish such a market, as well as its currencies, as a legal and transparent option.

challengessolutions

Creating of the agile cryptocurrency exchange system

Even years after its inception, the system of online money exchanging can be cumbersome, unintuitive, and practically user-hostile.

The platform grants agile exchanges via multi-asset architecture. No more twelve-step processing and jumping over complicated hurdles.

Improving upon the transaction speed

In contrast to similar services, we plan to achieve an average time of the transaction in the range of 5 to 30 minutes. The challenge is to get there using pre-existing tools.

The platform allows quick registration and validation with bilateral operations done in a matter of minutes and in nearly any kind of currency.

Secure all of the shared data

All user data and history must remain secure and accessible only to them.

We employed layered protection to keep the user data safe.

Make the design attractive

In addition to making the process more accessible, we want to create intuitive UI. This will help make the platform more popular among the average consumers.

We have developed both desktop and mobile versions of the platform with cutting-edge design standards applied to both.

How it works 

Using Multichange as an exchange platform is easy enough and requires little knowledge of the financial side:

  • 01. Choose your preferred exchange type. Cryptonymous screenshot
  • 02. Add your email, card, and/or online wallet depending on your further needs. Cryptonymous screenshot
  • 03. Verify yourself with passport or driver license Cryptonymous screenshot
  • 04. Confirm the transaction by scanning a QR code. Cryptonymous screenshot
  • 05. Receive the exchanged currency. Cryptonymous screenshot
  • 06. Keep track of your transactions and the exchange rates of your currencies of choice via personal history. Cryptonymous screenshot

In short, conducting secure currency exchanges on our platform takes just 5 easy steps with a 6th one optional for those who want to follow up on their trade or wish to do more business.

 Key features

  • High-speed platform High-speed platform icon

    Even 30 minutes would be pretty good by the industry standards but we have managed to set a range of 5 to 30 minutes for all transactions, guaranteeing quick results.

  • Excellent UX Excellent UX icon

    No outdated 2000’s style design, no unnecessary elements, adapted for both desktop and mobile devices.

  • A New Standard of Security Absolutely secured icon

    All personal data, transactions info, and history are stored in the most secure way possible.

  • Automated transactions management Automated transactions management

    No administrator involvement is required to process the transaction.

  • Multiple exchange directions Multiple exchange directions icon

    There are no limits on how you can exchange the currencies.

  • Advanced Monitoring Transactions monitoring icon

    Watch over your transactions and track their progress via a smart profile page.

  • Comprehensive Analytics Tools analytics tools icon

    Support and managing staff get access to a smart administration dashboard to help track activity and curate the platform if needed.

Stack of technologies 

Frontend:
  • React
Back-end:
  • NodeJS (NestJS)
  • Golang (Gin)
Hosting:
  • AWS EC2 instance
  • AWS s3
  • RDS for PostgreSQL
Architecture:
  • Microservices
  • DDD
  • API gateway
  • Broker
  • Bounded Context
Deployment:
  • CI/CD: Ansible + Jenkins

 Results

  • 01.

    Having surveyed competing exchanges and researched business models old and new, we chose the optimal one based on an analysis of payment modes, exchange rates, and fee applications.

  • 02.

    Implemented most of the common as well as a few unique exchange chains.

  • 03.

    Provided a secure KYC service which allows users to avoid data leaks, fraud, and any other danger to their financial operations.

  • 04.

    Simplified the UX to make our currency exchange more accessible.

Roadmap 

June 2018

Initial Preparations

  • Market research
  • Main features described and systemized
  • Engine description prepared
  • Initial UX layouts are ready
July 2018

Prototyping

  • Back-end prototyping
  • Mobile versions prototyping
August-September 2018

Back-end Development

  • Back-end development has begun
2018

Engineering

  • Back-end development continues
October 2018

Development

  • Rounding out the final stages of back-end development
  • Front-end development has begun
March 2019

Deployment

  • We are planning to deploy the live beta version of MultiChange for open tests and reach a critical mass of users
Summer-Fall 2019

Bug Fixing

  • Continuously adding exchange routes and options for them
2020

Full Release

  • MultiChange is fully realized and operational as a reliable multi currency exchange platform software

 Testimonials

Let us be your biggest success story!

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Tags

FinTech, Exchange Platform, eCommerce, Analytics