Cryptocurrency is becoming a familiar term and grabbed the attention of many people from all parts of the world. It is due to the rising popularity and beneficial factors of top crypto coins like bitcoin, ethereum, Cardano, and more. Already many people started to use these cryptocurrencies for making profits. As the usage of crypto assets is increasing day by day, there is a demand for cryptocurrency exchanges too. Crypto exchange is an online trading platform where one can buy, sell, or exchange all sets of popular crypto assets securely without any hassle. The Crypto industry offers several business opportunities for startups and entrepreneurs. But among them, the cryptocurrency exchange is the best and trending money-generating business model in this modern era.
In today’s modern world, most startups earned hefty amounts of profits by starting a cryptocurrency exchange business. When it comes to crypto exchange development, there are two development methodologies. Such as development from scratch and development from white label crypto-exchange software development. Crafting an exchange from scratch will take more time consumption and the expenses related to development will be high. Besides, one needs to monitor the whole creation process in this method. Secondly, you can use the white label crypto exchange software which enables the startup to build a feature-packed crypto exchange within a few days.
Choosing the right method for creating a crypto exchange will let you launch a flourishing crypto exchange and reap profits in the crypto market. Among these two methods, you can go with the best white label software which is an instant solution for your exchange business.
This article will cover everything that you need to know about white label cryptocurrency exchange software development with its insights, features, and more.
First, let us see…
Why White Label Crypto Exchange Software Development is better than Scratch?
As per the current market trend, going with advanced technology will be a perfect solution for any kind of business model. The same follows when it comes to crypto exchange. As previously said, there are two possible methods (white label software or development from scratch) that be followed for building crypto exchange. Both methods can proceed with blockchain technology. The main difference between these two methods is time and the development cost. Creating a crypto exchange from scratch is the process of crafting the exchange from the base. So, the time involved in this development method will be more (approximately 6 to 10 months) when compared to white label software. Apart from this, the development cost involved here will be also very high. Because for enabling every trading function, security feature, and add-ons, the startup needs to put his/her hard-earned money and efforts. Therefore, a startup needs to have a strong financial backup for this development method.
By using a white label crypto exchange software, a startup can develop and deploy a fully functional bitcoin exchange with all vital features within a few days. The major benefits of using white label software are customization and the cost involved for development is less. The white label crypto exchange software is pre-designed software so it is completely designed, developed, tested by experts, and it will be ready for deployment. By using the software, you can customize the name, logo, trading features, visuals, and other add-ons as per the business needs. White label software will come with tamper-proof security systems. It helps to avoid malware activities and other security threats. There is no need to put back paining efforts for building a crypto exchange if you use a premium white label crypto exchange software.
A startup or an entrepreneur can develop any type of crypto exchange(orders book, p2p exchange, user-to-admin, OTC exchange ) instantly as per the business necessities at an affordable cost by using white label solutions. One can experience several perks by choosing the white label cryptocurrency exchange software development method. Such as
- Customizable UI/UX
- Multiple device compatibility
- Faster deployment
- Instant crypto transactions
- High scalability
- Generate high ROI and more
Considering these various benefits, startups and entrepreneurs showed interest in creating a crypto exchange by using the white-label exchange software. That’s why white label crypto-exchange software development is better than scratch.
(Note - The development method that you choose is completely based on your business requirements. If you have potential funds and more time, then you can develop a unique crypto exchange from scratch. In case, you want to start your exchange business quickly at a low cost then you can prefer white label crypto exchange software.)
Factors to be Considered before Choosing White Label Crypto Exchange Software Development
Choosing the white-label exchange software development is the finest method that you can opt for starting an exchange business. But there are some crucial factors that need to be taken into the account before getting white-label software. Such as essential trading features, security attributes, add-on modules, and the development company that you choose. Now, let us discuss these important factors in a detailed way.
Essential Trading Features
When it comes to the crypto exchange business, trading features play a significant role. Enabling the core features in the white label crypto exchange software will enhance the success rate of your business. Besides this, you can magnetize a massive amount of crypto user base to your platform and stand unique among competitors. Here I shared some of the key features that you can get in the best and customizable white-label software.
1. Mobile Trading Application
As we can see a gigantic amount of people are using smartphones and their usage among youngsters is rapidly increasing day by day. Therefore, having a stunning crypto exchange mobile trading application for your trading platform is highly beneficial. By using the mobile exchange app, your users can buy, sell, or trade crypto assets instantly at any time from anywhere.
2. Crypto payment gateway
The payment gateway for cryptocurrency will let the users transfer the crypto coins and tokens securely in a risk-free manner.
3. Cryptocurrency wallet Integration
Crypto wallet is the most important feature and basic module in the crypto exchange. The wallet enables the users in the platform to store, receive, and transfer crypto assets from one wallet address to another address quickly in a secure way. It supports multiple cryptocurrencies such as Bitcoin, Tron, Ethereum, Cardano, Bitcoin Cash, EOS, and the list goes on.
4. Matching Engine
White label exchange software comes with a highly responsive matching engine that helps the buyer and seller to match the orders instantly as per the market price.
5. Margin Trading
This is a revenue-generating and important trading module in the white label crypto-exchange software development. By using this feature, users who can’t afford funds to trade crypto can borrow a certain amount of capital from the admin of the exchange. In return, the user needs to pay interest to the admin which helps to make a passive income.
6. Liquidity API
Liquidity is a major factor in the crypto exchange. Having high liquidity in the exchange will help you to grab several users and it increases the trust automatically.
7. Firewall Implementation
It is a network security feature that helps to monitor the outgoing and incoming user traffic. It helps to avoid third-party interruption.
8. Impressive user Dashboard
Having an attractive dashboard will help you to increase user engagement and user count in the exchange platform. Your users can view the transaction details, live trading chart, crypto price details, trading pairs, and more.
9. KYC/AML integration
It is one of the core features of the crypto exchange. By using KYC functionality, you can verify the user’s identity and AML helps to prevent illegal financial activities.
Add-on Modules of White Label Crypto Exchange Development
Now, let us see a few important add-on modules that you can get in the premium white label crypto exchange software.
1. Staking
Staking is an excellent and trending feature in the crypto market right now. Staking will let the users stake crypto assets for a certain period. In return, the user will get mind-blowing rewards. The staked cryptocurrencies will be used by the admin to increase the liquidity of the exchange.
2. IEO launchpad
IEO is deemed the easiest way to raise capital for blockchain-related projects. IEO is far similar to ICO but the token sales will be conducted in the crypto exchange. This feature will be beneficial for both the token issuer and the admin of the exchange.
3. Biometric Authentication
It is the most crucial security mechanism and a trending security protocol worldwide. By enabling this feature, you users can access/protect the account by using their fingerprint & face recognition.
4. Crypto Derivatives
Crypto derivatives module includes two types of trading options such as futures contract and perpetual contract. These options will be completely based on the crypto price prediction and the time calculations.
5. Multi-language Assistance
Incorporating multiple languages in your white label exchange will help to reduce the language barriers and attracts global crypto users quickly.
6. Referral Program
This feature helps your users to refer their friends or relatives to create accounts in the exchange. As a result, you can increase the user count easily and for each referral, your users can earn a bonus/reward.
These are the extraordinary features and add-on modules that you need to consider before getting a white label crypto exchange software. Now, let us see…
Security Features of White Label Crypto Exchange Development
In the crypto trading platform, many people will invest their money in various crypto assets. Therefore, a humungous amount of funds will be available on the exchange platform. Sp protecting these funds is more vital. From the latest stats, we can see that 54% of crypto exchanges have security holes and more than $1.7 billion worth of cryptos were stolen by anonymous hackers. If you are planning to create a crypto exchange by using white label crypto exchange software, then only the implementation of high-end security features in the software can avoid hacking and other fraudulent activities. Here I list some of the important security functions that you need to enable in the white label crypto exchange software.
- HTTPs authentication
- Registry lock
- Jail login
- Data encryption
- Two-factor authentication
- SQL injection prevention
- Browser detection
- Anti-phishing software
- Anti Denial of Service(DoS)
- Cross-Site Request Forgery(CSRF) protection
- Server-Side Request Forgery(SSRF) protection
- Escrow services
Now, you might have some idea about the important trading features, add-on modules, and security features of the white label crypto exchange software. To get all these attributes, you need to choose the genuine and leading cryptocurrency exchange software development company in the blockchain sector. Now, let us see…
How to Choose the Right White Label Crypto Exchange Software Development Company?
When it comes to crypto exchange development, many startups are rushing towards the best white label crypto-exchange software development company to get a first-class outcome. But there are some essential factors that need to be taken into the account before choosing the development firm. Factors are listed below.
- Company reputation
- Advanced technologies used
- Reviews and Feedbacks of clients
- Experience and quality service
- Customer service
- Portfolio of completed projects
- Communication with developers
By considering these factors, you can select the right and genuine white-label exchange software development company for your crypto exchange business.
Final Words
Starting a crypto exchange business with the assistance of professionals is always beneficial and it can make you a successful entrepreneur. For that, you need to get the bug-free and customizable white label crypto exchange software from the reputed cryptocurrency exchange software development company in the blockchain sector. The team of skilled developers in the firm will assist you in crafting the exchange with elite features as per your business needs at a budget-friendly price. Start your crypto exchange business journey with unique requirements and reap a good amount of profits in the crypto market.
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