Launching a cryptocurrency exchange has become a common phenomenon among entrepreneurs in the cryptosphere, due to the enormous traction it has been gaining and the growing profitable opportunities. The crypto exchange market volume has drastically increased in the last few years and is continuing to expand, as newbies enter the market almost every single day.
But when it comes to developing and launching a cryptocurrency exchange, it is a bit of a complex process. It involves a ton of procedures, along with ample amounts of time, and money. As entrepreneurs started seeking for a better solution, the idea of a white label crypto exchange software emerged. What is a white label exchange software? Why is it a better solution? We are going to discuss all of them in this blog. So, let’s get started.
The concept of a white label crypto exchange software
The emergence of a white label exchange software has helped entrepreneurs to quickly deploy their exchange in the market, and benefit from favourable market conditions. A white label exchange software is nothing, but a readily available software with everything necessary for the exchange to fully functional, from integrated features to robust front and backend support. Customers can purchase and customize them according to their personal preferences in terms of name, brand, logo, UX/UI, color themes, etc.
The price volatility involved with cryptocurrencies is as popular as cryptocurrencies are. To enter the market, as quickly as possible when the price is favorable to you, a white label exchange is an ideal solution. A white label exchange in simple terms is an enriched version of a crypto exchange. Let’s discuss in brief, the core benefits involved with a white label crypto exchange.
Here are the primary reasons for why you should go with a white label crypto exchange
Customers need not worry about technical expertise in the case of a white-label exchange software. It is already ready-made by an expert team with sound technical expertise. All the customers have to do is, purchase them and customize according to their business requirements and launch them in their own desired brand.
Quick, efficient, and cost-efficient deployment
As white label exchanges are ready-to-use, they can be launched in the market at warp speed, in most cases, 7 days to two weeks! They also reduce the time and cost involved in the development process. Customers can now efficiently launch any type of exchange they prefer, at a cost-effective price with the help of white label solutions. The types of white label solutions currently available in the market are as follows,
- White label bitcoin exchange software
- White label p2p exchange software
- White label leverage exchange software
White label exchanges are developed by an experienced set of developers. And also, they are pre-tested before being delivered to the customers and ensures bug-free functionality. Therefore, they are more reliable when compared to the other exchange options.
Flexibility for users
With a white label exchange software, customers can set up their own commission fees for the trades happening on the exchange, set up a commission forbids, choose their preferred cryptocurrency pairs, etc.
As mentioned above, white-label exchanges are highly scalable and offer wider customization options for users. They have the scope to configure the exchange matching their business needs.
These are the key benefits involved with a white label crypto exchange. Currently, with white label exchanges widely prevailing in the market, the majority of crypto development companies have started offering them. And with many companies offering, you will definitely be confused about which one to choose. To achieve a white label cryptocurrency exchange platform that is fit as a fiddle, for your business, the following are the features you need to look into.
Set of essential features for a white label crypto exchange platform
- Multi-currency and multi-lingual support
- Matching trade engine with high capacity
- Automated location-based KYC/AML verification system
- Advanced, intuitive UX/UI
- Multi-currency wallet with multi-signatures
- Firewall or firebase implementation
- Robust admin backed panel
- Flexibility to connect external exchanges
- Pending transactions
- Advanced blockchain and smart contracts
- Payment gateways integration
- Integrated referral program
- Mobile application support
- Multi-layer security protocols
Features we offer in Whitelabel Exchange
We offer an excellent trading engine to provide users an enhanced and effective match. Our robust trading engine is developed in a way that can search for matches that are only legitimate.
Wallets are one of the most important needs in the crypto exchanges market. They are utilized in many ways, including to stake, sell and buy crypto tokens. There are various types of white label crypto exchanges, they include,
- Cold wallet
- Paper wallet
- Offline wallet
- Online wallet
Platform-based wallets such as,
- Mobile-based wallet
- Web-based wallet
- Desktop-based wallet
We offer all these types of Crypto wallets into your whitelabel exchange.
KYC and AML
Know your customer and anti-money laundering builds are already integrated with your whitelabel exchange to detect any kinds of fraud and prevent them from denting your whitelabel exchange.
Our white label exchanges are built to handle most of the fiat and cryptocurrencies in existence. They include stable coins and tokens. This offers you various opportunities to get revenue.
Advanced growth tracking
Our whitelabel exchanges are equipped with advanced tracking tools such as chart tools to keep track of the activity and growth of your whitelabel exchange.
Other than the above-mentioned, there are various other features offered by our excellent team to your whitelabel exchanges. Our team has integrated multiple language support to let most of the people in the globe access it. And bot trading will analyze the size of the market and come up with a way to utilize them.
Things to consider while starting your own white-label exchange software
Here are some important things to consider while creating white label exchange development:
- Become familiar with the most essential licensing laws that apply to your area
Obtaining your licensing rules is the first step in starting a white label crypto exchange. Essential licensing regulations must be known when it comes to legal procedures.
To start a cryptocurrency exchange, each country has its own set of legal regulations that must be completed. Obtaining and completing the relevant licenses and applications ensures that future processes are clear and simple.
Nonetheless, there are a few situations where regulatory organizations lack exact constraints because they were unable to anticipate them. In addition, authorities in some countries, such as the United States, have enacted a slew of laws and regulations that must be followed.
- Collaborate with a reputable White Label Crypto Exchange Development software provider
Partnering with a well-known exchange development business is critical when it comes to launching cryptocurrency exchange software.
When dealing with such advanced technologies, the company’s staff must be adaptive, even if they have no grasp of the technology’s intricacy. Additionally, confirm that the company of your choice must be able to customize its white label solution to match your requirements, and choose a turnkey solution that will meet your organization’s requirements.
- Liquidity of the exchange
Traders who deposit funds in your exchange are expected to withdraw the cash at any moment using their preferred payment method. You’ll need to find many connecting partners who can ensure your exchange’s high liquidity in order to suit your clients’ expectations. Aim for higher liquidity than your competitors to get a competitive advantage.
- Integrate security features into the exchange
Security becomes the most critical consideration because you will be dealing with a large sum of public money. It’s critical to incorporate the appropriate security features into your white-label exchange software. Security features such as two-factor authentication, automated withdrawal restrictions, and encrypted user access all help to secure your exchange.
- Conduct beta testing
Beta testing is a sort of software testing in which a small group of people try out the product and report any problems they find. Before going live, beta testing allows you to identify issues that developed during the development phase and assist you in fixing them.
After beta testing, the next best thing to do is promote your white label Crypto exchange to potential clients; make sure to employ multi-channel web marketing strategies to spread the word about your white label Crypto exchange. Press releases and visually appealing content shared on various social media platforms also aid in attracting the target audience.
- customer service
You can build brand equity by offering consistent customer service. Hire qualified workers to answer your clients’ concerns, and use a live chat function to quickly address a client’s issue. Client contentment and satisfaction will bring in more customers to your business.
- Get the help of an ideal legal team
It is vital to be aware of all legal etiquette and to adhere to ever-changing norms. You can always hire a legal team of professionals who are knowledgeable about the local laws. Typically, bitcoin exchanges strive for a higher value than a specific location; as a result, your legal team must comply with the norms and rules of multiple jurisdictions.
What is the cost to acquire a white label crypto exchange software?
The cost of building a white label crypto exchange software varies from customer to customer, from company to company. It is determined based on various factors such as,
- The type of exchange customer wants to build
- Preferences of technical and security features to integrate in the exchange
- Personal customization preferences
- Project complexity
However, white label exchanges are much cost-efficient as discussed earlier, while compared to building the exchange all the way from scratch.
Our dedicated and expert team from Infinite Block Techhave conceived three white label exchange pricing packages, each costing approximately $21,000 $37,000 and it goes upto $50,000 according to the client’s preferences. We strive to offer our clients the most futuristic solutions at the most cost-friendly prices, without sacrificing quality and security. Our white label exchange will help you set foot in the market in no time, and assure a promising and profitable future. Get in touch with their experts to know more.
Security features for your whitelabel crypto exchange
Our whitelabel cryptocurrency development team constantly works on building an efficient security system that can’t be intruded on very easily. Our security features include,
We encrypt every information which is inside the whitelabel, and only the owner can have access to the particular information. Not even the developer can try to intrude.
HTTP Authentication and CSRF protection
Hypertext transfer protocol will need a secure layer to prevent intruders or adversaries from carrying out SSL stripping or similar attack to maintain the result. HTTPS will need user authentication or validation which is not needed in the HTTP layer. Cross-site request Protection is used to avoid any unwanted actions or to prevent any binding execution or also known as a State-changing request.
Anti Dos and DDos
Denial of services, at first, a particular server will send a very large number of requests to the target web application or system application. This will completely engage the applications like exchanges and cause various malfunctions. With Anti Dos, this can be prevented.
Distributed Denial of service attacks is similar to denial of service but not from a particular server, and requests are sent from various types of servers to bring the target system server. Anti DDoS will prevent you from those attacks.
Suppose someone promises you that they can help you mitigate all security. Run a mile away from them. We promise you that we are working on mitigating all possible attacks, and as the technology grows, the chance of vulnerabilities is being increased. And we are working on patching up those vulnerabilities with our security upgrades.