Generally, Cryptocurrency Exchange founders have three choices to build their crypto exchange. One is whitelabel exchange software solution, second is readymade crypto exchange script and third one is building from scratch.
But what is the best choice in terms of cost, viability, maintenance? In this blog, we are going to discuss the difference between white label Crypto Exchange solutions, Readymade Exchange script, and build from scratch development.
After reading this, you will have a clear head to get started with the right solutions that fits you.
1. Readymade Crypto Exchange Script
Readymade crypto exchange script is the reay-to-deploy web script containing all the default features of modern crypto exchange. The template, layout, functionality is pre-defined and inspired from popular cryptocurrency exchanges. Anyone without technical ability can initiate the development process within a short span of time.
This readymade exchange script is made with features like user friendly admin panel, In-built Trading Engine, Multiple Crypto Wallets, Fast Transactions, Liquidity API integration, Dispute Management, Multi-Language Settings, Trade Pairs Management, Content management system, User filtering and Transaction history.
Advantages of Readymade Exchange Script
1. Quick Deployment
The readymade exchange script is already developed based on certain specifications and features. Someone who wants to develop an exchange needs to work on the configuration and installation part alone. No need to spend too much time on code compiling, testing or anything.
2. License ready
The crypto exchanges are subjected to compliance policy. Abiding by the compliance and other regulatory measures need a lot of footworks like cybersecurity analysis, Anti money laundering guidelines and more. Readymade exchange scripts are already running in popular exchanges and don’t need extra work.
3. Technical support
The companies offering readymade exchange scripts will support you in the event of platform maintenance on certain conditions. Any systematic errors, code reliability will be completely guarded by the developers and they will provide 100% customer support.
2. White-label Crypto Exchange Solutions
White label crypto exchange solution is the ready to use crypto exchange platform that can be customized with logo, themes, UI, and even functionality. It can replicate whatever operation the crypto exchanges can do. Exchange founders can simply buy this software solution, add their unique branding to it, then launch the platform on the web.
You can have the detailed technical specifications about the whitelabel crypto exchange solution here.
Advantages of White-label Crypto Exchange Solutions
1. Battle-tested platform
The whitelabel solution has been multiple-tested against all the scenarios to ensure all the features are working properly. The solution has been frequently updated with security upgrades & product enhancements to enrich the platform’s usability.
2. Feature Ready
The whitelabel solution combines with all the current features of Cryptocurrency Exchange. It removes the technical process of researching every feature to be included in the exchange. It is far from advantageous to let entrepreneurs focus only on exchange operations, not development.
3. Branding ability
Though white-label solution, every company has its right to set up their unique branding aspects. The authenticity of your crypto exchange can be distinct and better than competition.
4. Instant setup
Developing every individual feature in crypto exchange from scratch requires a lot of time and effort. Whitelabel Exchange solution cuts down the technical work, research and development infrastructure that need to be worked on.
3. Build From scratch
Building a crypto exchange from scratch will be like owning your exchange without code duplication. Every single line of code is developed and owned by in-house development team, freelancers or any outsourcing team.
The team may include dedicated project managers, crew of MEAN stack developers, UI designers, App developers, a business analyst, and chief technology officer. The platform is developed from start to finish by the dedicated team you’re hiring or employing.
Advantages of building from scratch
The most important benefit of building an exchange from scratch is that the company owns every single data. Confidentiality is the key aspect for many bigger organizations since they involve a lot of businesses to be integrated with them. This can be opt for Institutional investors who want to build their own exchange.
2. Personalized marketing
As everything is managed & controlled internally, personalized marketing is applicable easily. Delivering personalized marketing messages to the exchange users can be done with third party integrations. Integration freedom is completely enabled in custom development.
The custom development is not limited to user bandwidth or transactions time limit. The scalability problem is completely eliminated and you can expand the infrastructure as the size of the platform expands.
Still confusing about the method to develop your Crypto Exchange? Our team will clarify all your doubts and guide you in choosing the perfect path.