At present, it has been observed that around 15000-20000 companies at the global level are accepting payments through crypto for their products and services. Due to this, the number of people using cryptocurrency has also increased and at present, around 0.3 billion individuals have started to trade with this new form of currency.
The enhanced level of cryptocurrency is encouraging the organization to develop their crypto exchange platform to attract more crypto users as it will help in enhancing revenue.
If you have recent plans to launch your White Label Crypto Exchange Platform, you can take the following steps as it would be helping in ensuring the smooth process of launching a new platform for crypto exchange.
Table of Contents
- 1 Step 1: Seeking Legal Advice to Complete the Licensing Requirements
- 2 Step 2: Estimation and Collection of Funds for this Platform
- 3 Step 3: Locating Provider for White Label Crypto Exchange Solutions
- 4 Step 4: Adding Liquidity and Partnering with a Payment Processor
- 5 Step 5: Implementing Effective Security Practices
- 6 Step 6: Beta Test
- 7 Step 7: Doing Promotions and Marketing
- 8 Step 8: Providing Efficient Customer Support
Step 1: Seeking Legal Advice to Complete the Licensing Requirements
Crypto is a newly developed form of currency. Businesses, as well as individuals, are not well aware of the legal compliances. Hence before putting the strategy to develop a white label crypto exchange platform, legal advice should be attained to know about the regulatory requirements. Also, it must be inquired what type of licenses will be required while giving service to the crypto users for crypto exchange.
Also, these regulations would be differing based on the jurisdiction, hence a knowledgeable legal expert should be appointed who possessed better knowledge of this sector.
Step 2: Estimation and Collection of Funds for this Platform
The cost would be a major factor while developing this Exchange platform. Before starting this project only, the estimated budget should be considered. After calculating the cost, the company should analyze its financial accounts to whether they have enough funds to launch this new platform or not. In case, there is a lack of funds, the business has to explore options from where they can arrange funds till the time this digital platform becomes profitable.
Step 3: Locating Provider for White Label Crypto Exchange Solutions
Technoloader is one of the leading firms that offer in the development of such platforms. This blockchain development company makes such types of software for just one-time licensing fees. There are no recurring costs and it also provides the whole source code to its clients so that the source code can be inspected as per regulatory requirements in many jurisdictions.
Step 4: Adding Liquidity and Partnering with a Payment Processor
In this step, there will be exchanges that would be connected to a network of current exchanges for enhancing their liquidity. There is huge competition in such types of crypto exchange platforms and such payment processor should be chosen that has the lowest rate transaction rate. However, before agreeing with any of the payment processors, the whole cost associated with it should be analyzed to identify any hidden costs. It is of great significance to ensure that the payment processor should be PCI-compliant so that danger of cyber attacks could be reduced.
Step 5: Implementing Effective Security Practices
Due to the rapid development of cryptocurrencies, crypto exchange platforms have become one of the major targets of committing cybercrime. For this, it is required that while developing a white label exchange platform for crypto, high-level security features should be incorporated.
Technoloader is a company that would be developing this digital platform in such a manner that would be most secured at the global level as it will include features such as encrypted databases and two-factor authentication.
Step 6: Beta Test
This would be the most important step in launching the crypto trading software. After completion of all the above-mentioned steps, this crypto exchange platform will be launched to test its features in beta.
Step 7: Doing Promotions and Marketing
Different publications publish crypto news. The news of this new software launched by the business should be published in such publications. Also, the promotions might be done with social media marketing as it would be cost-efficient.
Step 8: Providing Efficient Customer Support
The while labeling crypto exchange platform has been developed to provide services to the clients and crypto traders. It becomes very important to maintain positive interaction with the customers by resolving their issues effectively. The customer support services should be designed in such a manner that can be accessed 24×7.
Technoloader offers crypto-exchange software development services that would be easy to use and possessed effective features such as an efficient trading engine and wallet accepting multi-currencies. We also provide a free demo so that you can experience this digital platform of ours. Feel free to visit our official website and connect with our experienced experts in blockchain development technology.
