the crypto world has become so popular among traders, this has made entrepreneurs think of developing their own exchange website to earn more benefit from this industry. but entering the crypto world and becoming successful in it, is another complicated story. choosing the suitable platform, fixing the time of deployment, finding the most cost-effective way and the proper method for the aim of your business must be a complex process. stay with us until the end of this article to figure out all the things you need to know before developing an exchange website.
Cryptocurrency exchange development services
a centralized cryptocurrency exchange is a platform where you can buy or sell digital assets. Here, you have to trust a third party to monitor the transaction and secure the assets on behalf of the buyer and the seller. The deals are not tracked on the blockchain. These kinds of exchanges require you to submit your personal information for verification. On the other hand, if you’re a company, then you’d have to provide the required information to the exchange so it can verify your account. Some of these popular centralized exchanges are Binance, coinbase, localbitcoins, and some other exchanges. Exchanges on these platforms execute faster and the speed of transaction is so higher in centralized exchanges. There is one security issue about this centralized exchange and is that it is vulnerable to the attack of hackers.
a decentralized cryptocurrency exchange is similar to a centralized one but with some differences, DEX exchanges don’t need a third party to monitor the transactions. The users have complete control over their assets and transactions. These exchange is tracked by the blockchain and stored on the blockchain. The decentralized exchanges are immune to the attack of hackers or other dangers.
it refers to the exchange or sharing of information, data, or assets between parties without the involvement of a central authority. P2p exchange is an option that is now offered by most crypto exchanges, where buyers can directly exchange fiat money against a cryptocurrency from another individual.
White label crypto exchange
white label crypto exchange is the service that we are going to talk about here. Stay with us to understand more about the white label exchange and the white label exchange development cost.
What is a white label crypto exchange?
If you are new to the crypto world and thinking of developing your very own exchange website for your business in the field of cryptocurrency, you can use the white label cryptocurrency exchange. This platform is an easy and inexpensive solution for startups that want to enter the crypto market. A white label crypto exchange development helps entrepreneurs to get started in a short period.
White label crypto exchange software enables entrepreneurs to launch their exchange website and provide services to customers with their brand at a cost-effective price.
The white label crypto exchange software is a ready-to-use platform that a company offers. In this software the backend and the database are pre-developed but the UI and UX can be designed based on the owner’s taste according to what the business needs.
As a business owner, you can buy a white label platform and customize it. You don’t need to have any technical knowledge to do all these changes. So developing your desired exchange will not take long and you can focus on marketing.
Advantages of using a white label exchange
a white label cryptocurrency exchange has a quick and hassle-free launching process. Because its software is pre-developed so it doesn’t need all the time for programming and it’s completely ready to use.
because your white label crypto exchange software launch to the market faster so you can enter the market sooner and as a result, you can start gaining profit faster.
as we mentioned before the cost of developing a cryptocurrency exchange is lower than developing from scratch or other kinds of exchanges.
the white label exchanges are completely customizable. You can customize the exchange platform to suit your business needs.
The benefits of white label crypto exchange are summarized below
- Simple deployment
- Customizable UI/UX
- Market analysis
- Time-efficient transactions
- Cost-effective crypto exchange
- No need for an expert technician
- Reliable crypto exchange
- Improved accuracy and efficiency
The components of a white label crypto exchange software
White label cryptocurrency exchange development cost
Developing a website from scratch is an expensive process. Affording expensive software for new businesses may be risky. White label cryptocurrency exchange development cost is lower in comparison to the development from scratch.
One of the most important factors of crypto exchange is the development price. A white label crypto exchange software will cost 100 times less than an exchange platform that is built from scratch. The cost of a white label crypto exchange depends on many factors including the API integration, functions, modules, technology used in the development, and many other things. One of the factors that also affect the cost of developing a crypto exchange development is the device Provider Company.
What are the factors that shape the white label crypto exchange development cost?
crypto exchange software is one of the important factors in the crypto exchange development process. Crypto exchange software that contains more security features also has a higher price. Users want to put their money and valuable assets in a safe and secure platform so they should be sure that this platform has a high level of security. The crypto exchange platforms are the target of hackers and victims of cyber-attacks. So security features are those kinds of features that are essential for any exchange website.
The API is the set of rules that determine the protocol of two overlapping applications. Various APIs work simultaneously in a cryptocurrency exchange. An API allows two software to connect to each other.
A user-friendly interface is a tool to keep the user on our platform and also encourage the user to come back to our exchange. If our exchange platform is too complex and the user can’t achieve its goal in a few clicks or steps or the road to its purpose is hard the user may do not like to use our software. Even the color and the theme will affect the user experience.
Support for multiple coins:
Providing a platform to support different coins and altcoins for users will eliminate their need to use other platforms or wallets. Users can exchange, hold, buy, and sell all the coins they want in one platform and they don’t need to use a different platform for exchanging different coins.
Support multiple languages:
Users feel better about reading and doing various altcoins in their native languages. Providing software that supports major languages will give you happier and more satisfied users. This will also make your website a global exchange platform. The more active user in the platform will bring more benefits.