A useful summary of educational information and practical advice.
Cryptocurrencies have been generating a lot of interest as evidence shows that they continue to bring in attractive returns. With a surge in traders looking to trade cryptocurrencies, trade volumes have increased substantially since digital assets arrived on the scene.
As the interest in crypto trading increases, there is a growing demand for various types of crypto exchanges worldwide, providing great opportunities for crypto investors to launch a trader-friendly exchange so they can capitalise on market demand.
If you’ve ever thought about setting up your own exchange, there is no better time. Before setting out, you should consider the options available in terms of how you will operate your business. This will involve amongst other things, finding the best exchange software, and the internal architecture of your exchange that will provide you with a successful business solution and an offering that will attract traders to your exchange.
To set up your own cryptocurrency exchange, the first aspect that needs to be considered is exchange software and whether you will be building your software in-house or opt instead to purchase white label software.
Developing your own software entails sourcing a dedicated team of developers to work on cryptocurrency exchange development. There are a number of aspects that need to be considered, not least an estimation of costs and time needed to develop, maintain, and regularly upgrade the software in-house.
Developing exchange software from scratch can be very expensive and can take up to a year or even more to complete due to its complex nature. Taking into account developers salaries and the level of functionality you wish to incorporate into your exchange, this option can cost in the region of $500,000.
White label exchange software has already undergone thorough testing and is proven to work. Using a white label leaves you without the burden of having to deal with all the technical requirements, implementation and ongoing maintenance.
A white label will also save you considerable time as customisation is a quick process. In addition, you will save a lot of money because your overall expenditure will be significantly less compared with developing the exchange on your own.
Generally speaking, exchange software comprise the trading engine, user interface (UI), liquidity, the wallet and admin panel which should form the basis of your exchange. For companies lacking one of one or more key components like crypto liquidity or the trading engine, a white label is an ideal solution as these aspects may not have otherwise been feasible options.
B2Broker offers a variety of turnkey solutions for brokerage and exchange businesses allowing businesses to set up and operate their own cryptocurrency exchange within a month.
Some of the key services offered by B2Broker besides the white label platform itself are the legal framework, access to various platforms and access to liquidity. In addition, each part of the solution including the user interface is customisable so users can change colour, navigation and buttons, etc, making it an ideal solution for setting up a cryptocurrency exchange.
Furthermore, B2Broker offers an exceptional cryptocurrency exchange turnkey solution to provide clients with the means to set up their own margin exchange within a month. B2Margin is a Margin Exchange trading platform with a wide range of functions that includes on-boarding, compliance, risk management, pricing and trading analytics. Designed for both institutional and retail trading, it supports multiple asset classes, such as FX, CFD, stocks, commodities, funds and cryptocurrencies.
There are also a host of benefits for clients opting for B2Broker’s Cryptocurrency Exchange turnkey solution. B2Broker is also in an advantageous position as a liquidity provider, since it aggregates B2BX and some of the largest exchanges to maintain the liquidity of a few top cryptocurrencies in terms of market capitalisation. Furthermore, the turnkey solution integrates cryptocurrency payment gateway, B2BinPay, which supports unlimited blockchains and tokens such as ERC20, ERC223, and ERC777 standard Ethereum tokens, NEM and NEO based tokens and more.
Getting Started A growing list of companies have chosen B2Broker’s cryptocurrency exchange turnkey solutions to provide a quick, cost-effective solution with a choice of personalised features all geared up towards creating a revenue-generating business. Click here to get started with launching your own Cryptocurrency Exchange turnkey.
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