The surge is the usage of cryptocurrency has prompted many to come up with new concepts that could make it adaption easier. Exchange is the primary platform from where you can start your journey in crypto trading, but the things are being optimized and new concepts are making their way into the market. With White label Cryptocurrency Exchange development, the changes are becoming acceptable and the number of crypto enthusiasts is increasing rapidly.
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What is the Whitelabel Cryptocurrency Exchange?
A whitelabel crypto exchange is nothing but an off-the-rack version of exchange platforms. They come with high functionality and robust backend which makes the trading experience for every single crypto enthusiast better. The best thing about these exchanges is that they can entertain small changes as well even if they are in a ready-made format. Things like business logos and color themes could be chosen as per the requirement of your business.
There is a reason behind the mass proclivity towards the white label solutions and that is their readiness which lets the exchange owner kickstart the platform whenever he/she wishes to. You need to keep one thing in mind that crypto market is volatile, it is quite possible that you started developing an exchange when the markets were going good and by the time you are ready with your exchange, markets have crashed.
Therefore, this solution enables you to start instantly when the trade is favoring you.
Advantages of White Label Crypto Exchange
Saves Money and Time both
The ready-made platforms are much when it comes to saving time and money both. That’s because an exchange which has already been developed comes with its own features equipped in the framework. You can easily choose the platform as per its portfolio of features which means you won’t have to spend time assembling a team and managing the entire development process.
They are already tested for the production environment which assures you of no errors. It saves plenty of time which you spend on testing which eventually costs money as well. You don’t have to go through different phases of development in which the app has to go through various changes. You don’t have to wait for weeks or months to get a functional exchange.
Scope of Customization
These softwares come with the basic features which cannot be changed, but you can make small changes as it is mentioned earlier. And they can be done without bringing a major alteration in the main structure. However, you get to make small changes in the interface as per your requirement.
You can easily change the logos time and again without any hassles. It makes easier for you to rebrand your exchange and launch again if you need to. With this feature, it becomes very easy for anyone to get into the crypto trade and introduce their own platform.
Swift Deployment
Since it comes in an out of the box state, it can be very quickly deployed with any hassle. It means that you can start with your exchange without wasting a single minute. All you need to do is to install and configure the platform into the production environment.
Always Reliable
It is totally reliable and actually works much better than the version which is customized to the hilt. They come with solutions and patches which you can quickly implement to get rid of any issues if they arise. You get a very high level of stability when you use a white-label exchange platform.
No need for technical expertise
Another reason which makes this particular platform absolutely indispensable. They are very easy to handle and you don’t need to have any technical expertise for managing them. You may have to obtain some know-how for a customized solution but not for this one.
As it already comes with integrated solutions, you practically don’t need to make any effort for handling this type of exchange. Just launch it and go about your business.
Things you need to consider before getting a White Label Cryptocurrency Exchange Platform:
Mind the Jurisdiction– Almost every county has come up with its own set of rules for the usage of cryptos. Some have completely banned it while some have provided considerable leeway to crypto enthusiasts. Therefore, you need to be through with the regulation of the country where your platform will operate.
In-depth research on regulations– Once you know that buying and selling of crypto are allowed in the region you are going to operate your exchange from, you need to dig down deeper to figure out more complexities. There are certain regulations in KYC (Know Your Customer) and AML (Anti-Money Laundering) which you need to aware of very well.
Kind of Exchange– Last but not least, you need to know what type of exchange you are going to offer to the users. It could be either centralized, decentralized, hybrid or PWP, based on their structure, the trading would be accordingly modeled.
Therefore, you need to choose the type of exchange beforehand and then only proceed with the purchase.
Payment is one primary aspect that you need to look for, you need to decide the gateway as you have a few choices there as well. You can go for fiat-to-crypto, crypto-to-crypto or fiat-to-crypto as well.
Software Modules and Features
There are various modules that software is equipped with and based on them, the functions vary. So before you make a final decision, you need to also check the features and modules very carefully. The things that you need to consider are the trading engine, user interface, and wallet which are the most pivotal features that make users like a particular platform more than others.
Things like a well-designed admin panel for effective handling is a must-have for every administrator. There are some essential features that help you tackle the whole thing very effective and you cannot manage things without them. Thus, you need to be considerate of all those attributes which make trading a better experience.
Collaboration with Financial Institutions
If you are launching your own MLM business it is a must that you are associated with some financial institutions as well. It gives the entire procedure more leverage and makes the outcome more comely for the end-users. And this should be done well in advance as it also becomes a major marketing strategy.
With such a partnership, you can ensure that your platform gets maximum exposure as the institutes promote it to their user-base as well. Other than that, they can also help in the process of clearance and settlement with better handling.
Liquidity
Maintaining high liquidity is definitely a factor that every exchange tries to achieve. So the exchange you come up with should be able to take care of that. When you engage in active trading, it is important to keep the track of orders and it gives leverage to buying/selling. It gives them better output at the cost of solutions and that’s when you need to be on alert.
The APIs on your exchange should support greater volume and ultimately, they must churn out benefits that will be highly useful for every single platform holder. There are various other exchange platforms that make the utilization of all the trading activity but they fail to deliver the ability to compute. Your software should be able to achieve that easily.
Conclusion
With a perfect whitelabel crypto exchange, you can provide a perfect environment to your users. It gives them a perfect setting with which you can handle more than you expect and brilliant results are reeled off. When changes are required, you can make them happen in this particular format of exchanges. It provides an ideal premise on which you can induct better modulations and gets you more than you can even imagine. To achieve all this, you need a cryptocurrency exchange development company which could deliver a perfect platform.
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