The crypto market has evolved by leaps and bounds since Bitcoin found its way into the investor world. How is this thriving market flowing seamlessly every day? Crypto exchanges have been a medium allowing people to purchase and trade cryptocurrencies, and they serve as entry points for new enthusiasts. Over 650 crypto exchanges exist today, according to data from CoinMarketCap. Still, the need for exchanges hasn’t subsided, making the model a viable business option. Our blog focuses on the factors dominating the Whitelabel crypto exchange cost in detail. This quote from Ethereum’s founder Vitalik Buterin, sheds light on how cryptos and dependent applications such as exchanges could contribute to the world.
If crypto succeeds, it’s not because it empowers better people. It’s because it empowers better institutions.
Table of Contents
- Crypto Exchange as a Business Model Today
- Whitelabel Crypto Exchange: What Does It Do?
- Benefits of Utilizing a Pre-built Crypto Exchange
- How Do Features Influence the Whitelabel Crypto Exchange Cost?
- Is Using Ready-made Exchange Software Safe?
- Popular Whitelabel Crypto Exchange Software With Us
- Time to Launch Your Crypto Exchange from an Existing Solution
- Conclusion
Crypto Exchange as a Business Model Today
We have seen earlier that over 650 crypto exchanges exist currently. These platforms mostly come under centralized (CEX) and decentralized (DEX) models, with a few hybrid exchanges in between. There are also niche crypto exchange models, such as ones based on derivatives, over-the-counter (OTC) trading, synthetic assets, and more.
Needless to say, the need for new crypto-exchanging platforms doesn’t seem to subside any soon as new users keep entering the space. Such possibilities make crypto exchange one of the go-to business models today. Using a Whitelabeled one seems to be a great fit among entrepreneurs aspiring to shower the mightiness of cryptocurrencies to the world.
Whitelabel Crypto Exchange: What Does It Do?
A Whitelabel crypto exchange is a pre-coded program working based on the crypto exchange business model. The application can be launched for business use easily as most elements are built beforehand. It is mostly available with specialized companies such as Blockchain App Factory, from whom business owners can develop their own exchange.
A business owner would only need to define their brand visuals and feature requirements, as these elements are left to be customized. In some cases, extra features could be added on request that would need some resources, which we will see in a later section.
Benefits of Utilizing a Pre-built Crypto Exchange
- Quick Launch: A Whitelabel crypto exchange can be launched for public use within a short time, as most of the complex parts involved in development are executed beforehand. This can enable businesses to be a step ahead in the competitive crypto market.
- Lesser Expenses: Using pre-built crypto exchange software for business needs incurs considerably lesser costs than performing full-fledged development from scratch. Note that costs may vary according to numerous other factors, which we will see in a later section.
- Customizability: While Whitelabel exchanges might look inflexible from the outside, one should know they can be modified to suit individual business requirements. Sometimes, even the back-end can be customized, enabling more uniqueness for a business.
- Continued Support: If you use a Whitelabel crypto exchange from an esteemed company like Blockchain App Factory, for instance, you can have ongoing support and maintenance assistance. Such provisions can aid businesses in staying with the market trend and user flow.
How Do Features Influence the Whitelabel Crypto Exchange Cost?
For any platform, features have a say in deciding the cost, and the same applies to Whitelabel crypto exchanges. The Whitelabel crypto exchange cost depends on the sophistication of components present in the platform alongside other features that can be added. We will see some elements essential to the functioning of a pre-built crypto exchange here.
Trading Engine
The trading engine executes exchange deals by connecting buy and sell orders. Advanced trading engines enable low latency, fast transaction speeds, and complex order processing.
User Interface
The user interface of the exchange allows people to access the platform and conduct financial operations. It is essential to have interfaces offering friendly experiences.
Security and Compliance Elements
While provisions like two-factor authentication (2FA), encryption, and hardware security modules (HSM) ensure security, know-your-customer (KYC) and anti-money laundering (AML) ensure compliance with regulatory requirements.
External API Integration
Integrating external APIs for price tracking, payment processing, market analysis, charting, social trading, and blockchain should be performed based on your target market’s exclusive requirements.
Trading Infrastructure
Infrastructure to enable high trading volumes includes sophisticated matching engines and liquidity management solutions. Whitelabel exchange software can be modified to scale up or down.
Branding Elements
Customization can be performed on the platform’s user-facing screens to reflect your brand’s unique propositions. High levels of customization here increase the exchange development cost.
Integrated Wallets
Providing room for connecting user wallets or having an in-built wallet in place allows people to trade cryptocurrencies seamlessly anytime with the highest possible security.
AI-based Automation
Features such as chatbots, predictive analysis tools, algorithmic trading, and smart order routing use artificial intelligence (AI) and incur significant costs to create an exchange.
Multi-Currency Support
Supporting multiple cryptocurrencies is essential for a crypto exchange to succeed. Giving provisions to add coins in the future could increase the exchange launch cost.
Other Complex Features
Adding sophisticated features like advanced options trading, language localization, and margin trading play a role in increasing the cost of launching the Whitelabel exchange.
Is Using Ready-made Exchange Software Safe?
Whenever we talk about ready-made exchange software, platform safety raises a lot of discussions. Utilizing a Whitelabel crypto exchange solution can be safe for businesses and users if the platform is created by a reputable company like Blockchain App Factory. This is because we develop applications that pass world-class software security tests with flying colors.
Hence, you’ll never need to worry about going for a Whitelabel solution with concerns about the platform’s security. Even if unexpected errors arise post-launch, you can get them resolved promptly by our expert support team that stands by your side at all times.
Popular Whitelabel Crypto Exchange Software With Us
At Blockchain App Factory, we excel in building Whitelabel crypto exchange solutions similar to numerous popular exchange platforms. We believe that by providing such platforms, enthusiastic startup entrepreneurs can succeed quicker than ever. This section will give details about those solutions preferred the most by our clients over the years.
Binance
Binance is a global crypto exchange functioning on the BNB Chain with recognition from many national financial institutions. The exchange supports over 350 cryptocurrencies and thousands of trading pairs as part of a larger ecosystem. It even has derivatives and other crypto trading practices like margin trading and P2P trading.
Coinbase
Coinbase has been one of the most popular crypto exchanges for a long time, with user-friendly processes and interfaces. The platform supports over 150 cryptocurrencies and thousands of tokens, making it a busy application. Coinbase exchange also provides support for financial institutions, brokerage, commercial exchanging, international exchanging, asset listing, and derivatives trading.
WazirX
WazirX is a crypto exchange that has been popular in South Asia. The platform offers high-standard security, support for popular cryptos, lightning-fast KYC processes, and functional support across five platforms. The WazirX exchange even provides a peer-to-peer (P2P) trading platform where users can exchange cryptos without involving any intermediary.
Uniswap
Uniswap is one of the first decentralized crypto exchanges (DEX) that has since evolved a lot. The platform supports exchanging cryptocurrencies and non-fungible tokens (NFTs). It is also a multi-chain exchange platform, offering support to eight blockchains as of writing. The platform even allows users to become liquidity providers easily.
PancakeSwap
PancakeSwap is a BNB Chain-native decentralized exchange (DEX) that has expanded operations to five more blockchains since then. The platform allows users to gain cryptos by trading through exchange practices, earning through farming, and winning through competitions. It even has an NFT marketplace and a game, evolving into a complete ecosystem.
Time to Launch Your Crypto Exchange from an Existing Solution
If you are considering building a crypto exchange venture from one of our pre-built solutions, you might think about the time needed to launch the platform for public use. Don’t worry; our expert team will launch your crypto exchange from a quality Whitelabel solution within seven days, making our services some of the best in the market.
Although our launch windows are very minimal, we never compromise the quality of your exchange or your dream features. It is because most of the work has been done beforehand, facilitating our professionals to make modifications and power the platform on the blockchain of your choice.
Conclusion
Therefore, we have seen the factors dominating the Whitelabel crypto exchange cost alongside the benefits these solutions offer. We also listed the popular exchanges our clients prefer using, and we recommend you check out all our Whitelabel exchange solutions. With the future of the crypto market depending on how these platforms thrive, running one wouldn’t be a nonsensical option. If that isn’t enough, applications we have spoken about in-depth earlier have billions of dollars flowing daily via trades. Sounds exciting? Consider working with our seasoned development team to realize your novel business dream. Start today by filling out the form below!
