As we all knew that the number of crypto traders has been increasing day by day, due to the number of cryptocurrency exchanges. One of the popular messaging app "LINE" has started a "BitBox" in the year of 2018 and also "Yahoo" - one of the popular email service providers launched their own crypto-trading platform on May 30th. Initially, this crypto exchange accepts any bitcoin, ethereum, ripple, and litecoin, etc. This exchange has both a website and a mobile application to buy and sell cryptocurrencies. Nowadays, most of the traders are looking for crypto exchange as one of the best opportunities for online business and making more online from home. Because of the popularity of cryptocurrencies.
One of the main reasons behind the hype of the cryptocurrency exchange platform is Bitcoin. It has become more popular across various countries among the business owners, entrepreneurs and crypto enthusiast which excited them to start their own cryptocurrency exchange website from the scratch and also instant platform created with the bitcoin exchange website script
What is the bitcoin exchange website script?
Factors to consider before launching your own bitcoin exchange script:
Here, we have mentioned the few important elements in order to avoid the burden of creating a cryptocurrency exchange platform with the bad exchange script.
For any bitcoin exchange script, security, speed, and recovery are the most important factors which determine that it is the best script. Make sure to read the document to know how the software is structured. There are many ways that a bitcoin exchange script might be structured, moreover, all the exchanges need a wallet module, trading engine, admin panel, and best user-interface.
One of the most factors that need to consider for any new bitcoin or cryptocurrency exchange platform is the liquidity. Without this, investors won't gain their orders frequently and an empty order book will make scare away the customers. Most of the exchange scripts provide some techniques to generate liquidity. There are basically two ways to generate more liquidity. The one, linking your platform from an account with the other big exchange and you can generate your orders through the other exchanges. The other is creating bots in your bitcoin exchange script that buys and sells cryptocurrency and it helps in creating the order history.
Attractive User Interface:
Intuitive design is the key to provide a good user experience that makes every user want to continue using your exchange platform. Many of the quality exchange scripts include a pre-built UI and also have the ability to customize the interface as per your brand needs. They should also provide the best support for external APIs that provide real-time trading information.
KYC, AML, and other measures to secure your platform:
To keep your recently launched cryptocurrency exchange platform legal, it is crucial for it to be compliant with the regulations. Depends on your target audience and location, the regulations for the crypto-exchange must vary. It is a little difficult to generalize about regulatory compliance. But, most of the countries require KYC (Know Your Customer) and Anit-Money Laundering (AML) for all banking and currency exchange institutions. Any good bitcoin exchange script has an integration of both KYC and AML. So you should verify that how it works on any script you considered.
Why should you build a crypto-exchange website using a script?
Developing a cryptocurrency exchange from scratch takes more time, and effort to do. On the other side, with this script, it will help you to start the development time and also you can customize the entire platform according to your business needs. Which one makes you more comfortable?
Where you can get the best cryptocurrency exchange script?
You can easily find out the best companies that offer the bitcoin exchange scripts. I am suggesting one of the top cryptocurrency exchange development company that provides end-to-end cryptocurrency exchange development services at an affordable cost. There are more companies offering exchange scripts, but one thing you have to be noted down that who has more experience provides a rich-feature platform and highly-secure exchange script.
One of the most popular tradings in the current world scenario is cryptocurrency trading. Nowadays, most of the peoples have started to show their interest in this type of trading. The reason is that the price of the tokens keep changing day-by-day and it won't be stable. Even though there is a lot of risk in this trading, but peoples are ready to invest in crypto trading and also taking a lot of risks because to earn more profits. Now, it's the right time to launch your crypto exchange platform if you want an earn a more profit from it.
As a business owner (or) crypto enthusiast, probably you would like to start your own cryptocurrency exchange platform. But the only question when comes to everyone's mind is, "how much costs does it requires to build a crypto exchange platform?", "will the cost be more for developing a crypto trading platform?" more and more. For your questions, this article is going to reveal all of those stuff in your mind.
So, What is the cost to start a cryptocurrency exchange platform for your business?
Before knowing about the cost here, you should need to aware of the basic steps to start a crypto trading platform.
Basic things to learn before launching a new crypto trading platform:
Initially, to know about the cost, you should know about the types of cryptocurrency exchanges in the industry. There are three different types of exchanges available.
⦁ Centralized Exchange.
⦁ Decentralized Exchange.
⦁ Hybrid Exchange.
In a centralized type of exchange, there is a middleman requires to perform any kind of transactions ie, to buy and sell digital assets. While in the decentralized exchange, without the need for a middleman, you can make transactions. In hybrid exchange, there is a combination of both centralized and decentralized. Therefore, you need to know about the working strategy and choose the desired exchanges that you want to launch.
Secondly, you must know about the type of cryptocurrency exchange product you have planned to launch for you. It could be,
⦁ White-label cryptocurrency exchange (or) Ready-made crypto trading platform.
⦁ Cryptocurrency exchange from scratch.
As an industry-leading cryptocurrency exchange development company, we provide both the solutions.
White Label Cryptocurrency Exchange Development:
In this type of exchange platform, you can buy and change according to your requirements. You can even add or remove more functionalities and also you can customize it entirely as per your business needs. A ready-white label script avail at Osiz Technologies, which will aid to start your own platform instantly and more ease. One of the main advantages here is that you could save your money as well as yout time. And also, if you are lack in technical knowledge this is the perfect choice for you.
Cryptocurrency Exchange Development from Scratch:
On the other hand, there is also a chance to start a cryptocurrency exchange from scratch. You can choose your own layout, advanced features, and futuristic functionalities in your platform.
Moreover, the time usually takes more than 4 months to start a cryptocurrency exchange development, and also it may vary based on your requirements and advanced functionalities in it. Therefore, you have a clear idea that which one suits you. In case, you have any immediate requirements, then you should go with the white-label crypto exchange.
Estimate Time and Budget Restrictions:
It is very difficult to calculate the exact duration within which you required your platform to be built. And also it is very important to estimate your cost requires to build a crypto exchange. For example, if you want your platform to be established within a week, the cost would be comparatively high.
The next thing is to display your maximum budget. Remember that, the budget should include future plans as well. For example, if your crypto exchange platform leads to any issues, you should have to back up the amount accordingly.
In addition to this, you have to spend your money on general factors like,
⦁ Offering payments to the employees.
⦁ Get legal compliance for your crypto exchange.
⦁ Due Diligence and more.
Therefore, you have ensured sufficient funds to manage the time effectively to start a crypto exchange platform.
Features of Cryptocurrency Exchange:
Before you start to launch your crypto trading platform, you must draft the functionalities and features you need for your business. Here is the list of components you will have to include in the cryptocurrency exchange.
⦁ Rich UI/UX
⦁ Overflowing TPS
⦁ Admin Panel
⦁ Investors Panel
⦁ Margin Trading
⦁ Escrow System
⦁ Liquidity API
⦁ Cryptocurrency Wallet
⦁ Multi-Lingual Support
⦁ Multi-Layer Security Protocol Implementation
⦁ Integration of Payment Gateway
⦁ KYC/AML Solutions
The above mentioned are the entities that we have integrated into our tailor-made crypto exchange platform at Osiz Technologies. In addition to this, you can also include other features in the platform.
As an industry-leading blockchain development company, we provide the best-in-class cryptocurrency exchange platform at an affordable cost. As we have discussed earlier that, the cost may vary depends on your requirements you need to implement into it. If you are willing to launch a white-label crypto exchange or it from the scratch, you can reach out to us at any time. We are ready to provide answers to all your questions which makes you feel happy.