A viable alternative to stock markets and forex for investors and traders alike, crypto trading is now accepted globally. Enterprises acknowledging the profit potential in crypto trading mostly opt for white label cryptocurrency exchange solutions. The primary reasons behind such decisions include resource-saving – be it time, capital investment, or acquiring technical expertise.
Global Cryptocurrency Markets
The crypto craze is here to stay. Global market valuations stand over $2.8 trillion, with 24-hour trade volumes peaking at over $93 billion at present. Further legalization and adoption of cryptocurrencies, along with an ever-increasing need for the underlying blockchain technology indicates that the trends are unlikely to change anytime soon.
How to Set Up a Profitable Cryptocurrency Exchange?
A cryptocurrency exchange generates revenue through transaction and processing fees. Therefore, profits are proportional to trade volumes. The increase in global cryptocurrency exchanges translates to higher competition with rivals trying to outdo each other by offering the lowest trading fees. However, there are additional factors that determine the success of a crypto exchange.
Necessary Services for Building a Cryptocurrency Exchange App
Crypto traders and investors look forward to the following features in a crypto exchange application:
- Login and Signup Page
The start is always crucial- both for regular traders or newcomers. Keep the user interface simple- easy-to-use and hassle-free. Moreover, features in the crypto exchange platform app should include additional security and the Two Factor Authorization (2FA) protocol.
- User ID Verification
Ensure trust for users with a proper verification and vetting process. Requirements and features may vary for users fulfilling the verification criteria. Verified users enjoy a bigger withdrawal limit than non-verified users. Verification also helps in enhancing transparency and preventing scams.
- Deposit and Withdrawal Features
Users deposit and withdraw funds from their allocated wallets as per requirement. The enterprise can set the cap withdrawal limit for traders using their cryptocurrency exchange platform.
- Multiple Transactions
Successful cryptocurrency exchange platforms allow users to transfer crypto-assets between each other (buy or sell). The transaction process must occur flawlessly, and swiftly. The efficiency level is often key in helping users choose the right platform.
- Tools for Analytics
Similar to stock exchanges and forex, crypto traders prefer having analytical tools for making a trade decision. Performance graphs and charts help them in figuring market trends and coming up with an appropriate course of action.
- Admin Panel
The admin panel allows the enterprise (or owner) to monitor, keep tabs and manage transaction activities within the crypto exchange.
Why do Enterprises Lean Towards White-Label Resources?
As mentioned above, businesses looking to reap profits by setting up cryptocurrency exchanges need to abide by and accommodate multiple considerations and legalities. Setting up a team to build a cryptocurrency exchange requires experts from diverse sectors.
To begin with, the team must consist of experts in blockchain technology, cybersecurity, software development, banking finance, and trading. Even after acquiring them, there are trials, test runs, and possible complications. A cryptocurrency exchange requires fulfillment of high standards to succeed in the middle of increasing competition. Thus, white-label crypto exchange solutions are often the logical conclusion. In addition to saving expenses and time, solutions built by experienced blockchain developers also offer quality assurance, maintenance, and customer service support.
An All-in-one White Label Cryptocurrency Exchange Solution
A comprehensive white-label solution addresses all the key points for a crypto exchange enterprise. Certain solutions also provide slight customization features. However, ascertaining security and technical proficiency should always be the priority in selecting the right crypto exchange architecture. Experience is invaluable- the developer profile is a good place to start.
US-based blockchain development company HashCash Consultants specialize in developing enterprise-grade solutions for businesses, specializing in fintech and cryptocurrency. The company owns and operates the US-based cryptocurrency exchange PayBito. White label solutions built by HashCash are deployed all across the world, achieving a high level of success and recognition. Business enterprises looking forward to setting up their own decentralized exchanges prefer HashCash for their superior architecture, experience, and consistent excellence.
The HashCash Advantage
The following are some of the features and advantages of HashCash’s White Label Crypto Exchange Software:
- SegWit Integration, BIP 32 with Firewall and Firebase for enhanced security.
- 3-point architecture, IP tracking, DDoS mitigation, Geo-Fencing prevents hacking attempts along with AES 256 encryption.
- 2FA, Hot and Cold Wallets, Multi-device utility.
- The intuitive dashboard facilitates real-time trading with support for multiple fiat and crypto-assets.
- Order book with matching engine, KYC verification, and enhanced crypto-liquidity integration.
Exponential growth in the cryptocurrency sector makes crypto exchanges a profitable venture. Naysayers are retracting from their pre-conceived sentiments and advocating the use of cryptocurrencies and their underlying blockchain architecture. Comprehensive white label cryptocurrency exchange solutions from HashCash Consultants are the ideal way to lay the groundwork for a profitable crypto exchange.