How To Migrate Between Cryptocurrency Exchanges Easily And Effectively
How To Migrate Between Cryptocurrency Exchanges
Are you looking to switch from one cryptocurrency exchange to another? Here at Qoden, we offer a solution that facilitates this migration process in a few easy steps. In fact, any organization can take advantage of our streamlined migration solution.
Determine the Best Migration Method
To ensure a seamless migration to another cryptocurrency exchange, it is critical to select an appropriate migration method. Currently, many whitelabel exchanges attempt to lock you into their ecosystem, commanding steep capital costs due to their sub-optimal servers and overheads.
Qoden, on the other hand, minimizes costs by providing express migration (or cutover migration). If you have a sizeable client base, however, you can leverage Qoden’s staged migration instead.
If you would prefer to keep both of your exchanges online and gradually migrate your user base, Qoden can support this using an integrated (or hybrid) exchange. This type of process is recommended if:
You wish to migrate users from your cryptocurrency exchange gradually, in small batches.
- Your exchange has a user base of 1,000–5,000 people or more.
- Your crypto exchange has numerous open orders and you want to make sure they don’t get halted or dropped. (Qoden’s development team will work hand-in-hand with yours to monitor such orders and swiftly migrate users once the orders have been filled.)
During the exchange migration process, it is possible that discrepancies may surface, posing a risk to your data. Rest assured that Qoden’s process mitigates this risk by leveraging a Data Consistency Score, tracking and notifying you of any potential data breaches.
To ensure an accurate migration, the Data Consistency Score will register any inconsistencies between your source and target data stores. You can then refer to this score as a leading indicator for whether or not an exchange migration will execute seamlessly, or whether intervention is necessary.
Support in Every Language
Concerned about potential issues in porting your exchange over to a platform in a different language? Rest assured that Qoden enables you to migrate all components of your exchange, regardless of the source and destination languages of the crypto exchanges.
User Notifications on Auto-Pilot
Boasting a fully customizable process, Qoden creates accounts and registers users’ balances automatically. Upon the successful completion of a transfer, your users will be sent an email inviting them to reset their password. At this point, they can easily begin using your new exchange.
The last thing you want to worry about as a cryptocurrency exchange operator is downtime. Thankfully, our model allows you to hedge against negative user impact, reducing downtime to a minimum.
Looking for a step-by-step instruction on how to successfully migrate your crypto exchange with Qoden’s whitelabel solution? Give us a phone call or request a demo today — we offer top-notch technical support for our platform at no additional cost to you!
Originally published at https://qoden.com on April 2, 2020.