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Cryptocurrency
Exchange

Cryptocurrency exchange - RICHAMSTER

Richamster.com exchange is a trading platform for buying and selling cryptocurrencies and fiat money. The primary income of the exchange comes from fees on the purchase/sale of currency. Cryptocurrencies that are supported by the exchange include BTC, LTC, KRB, DOGE, ETH, and ADA. Users make profits by bidding, buying, and selling currencies.

Project goals:

We had a task to develop a website within a limited timeframe that allows users to deposit and withdraw funds from their personal wallets, trade cryptocurrency in real-time, and communicate with each other in the chat.



Customer security

Our team thoroughly thought through an entire system that protects our clients from the theft of both their funds and personal information on the Richamster platform.

Two-factor authentication

We connected the website to Google Authenticator, which uses the Time-based One-time Password Algorithm and HMAC-based One-time Password Algorithm. Users can enable/disable this function in the personal cabinet.

Pin code

PIN code provides additional customer protection. This is a 5-digit number that the system sends to users’ email when they register on the website.

IP tracking

Ip tracking and notification system allow users to instantly find out about unauthorized access to their accounts.

Server security

Project architecture

We designed project architecture with scalability in mind, since new cryptocurrencies and additional features are added regularly. The website is hosted on multiple servers, which improves protection against hacking and balances the load










User statuses and personal data verification

Users can reduce their commission for cryptocurrency purchase and sale transactions by upgrading their status. In order to confirm each of the statuses and receive more privileges on the platform, users must undergo identity verification. They need to fill in the form in their user accounts and attach to it a scanned copy of their IDs or other documents that confirm identity.

Other security features we implemented include funds holding and token expiration.

Challenges we solved

The biggest challenge came when connecting Bitcoin. Initially, we planned to use blockchain.com API but encountered a restriction - the so-called Gap limit, within which one wallet can’t have over 20 empty (zero) addresses. So we decided to raise the node from scratch without using third-party services.

The system generates a unique wallet address for each user. It can be easily replenished from a local wallet or from another platform.

Bidding

The main purpose of any exchange is cryptocurrency and fiat money trading. So we implemented some sophisticated calculation algorithms on this website section.

Graph

To implement the Candlesticks charts, we used Tradingview, a popular service that provides an open-access library on GitHub. The graph shows 4 variables: Max price, opening price, closing price, min price.

One candle shows the fluctuation of the exchange rate within 24 hours
























Chat

We’ve implemented online chat for instant messaging between users.

Buy and sell orders

Under the trading chart, there are blocks for placing orders, and stock charts displaying buy and sell orders awaiting a counteroffer.

Deal history

Users can not only see their own bets but also easily cancel them on the My Orders page.

User Account

User accounts show personal information, history of deposits and withdrawals, history of transactions, and personal trading.

Online voting

We’ve also added the ability to vote for important decisions to improve the exchange.

Auction

On the auction page, users can become real shareholders of the exchange by bidding for the platform's stocks.

Types of users

There are 5 types of users on the website: trader, observer, advisor, investor, and director.

Technologies:

WebSockets

WebSocket is a data transfer protocol that enables continuous data exchange between the client and the server.

REST API

With REST API, the backend deals only with data, while the HTML rendering takes place on the client.

Report-builder

To track user behavior and view bidding, auction, and transaction statistics, our team has installed the Report-builder library.

Public API

We enabled a public API to allow other websites to receive bidding data from Richamster.

Information about the project

Project Richamster
Industry: Crypto exchange
Service turnkey website development
Tech Stack: JavaScript / Vue.js, Python / Django
Team: 8 members
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