FINTECHSERVICE
Software development company
Why You Should Consider a White Label Cryptocurrency Exchange Solution
Introduction
In the future, the 21st century will be remembered for many things. The introduction of fully functional digital currencies, crypto, the metaverse, and Web 3.0 would be included in these things. If you play your cards right, you may be included in the list of crypto users who advanced in status to become administrators in the crypto industry. The fastest way to reach this level is to get a white label crypto exchange.
This article is all about custom-built crypto exchange platforms known as white label crypto solutions. What are these platforms? What benefits can you derive from owning them? How can you get them? This article answers these questions.
What is a White Label Cryptocurrency Exchange Platform?
A white label crypto exchange is a software solution that is built around cryptos. The main characteristic of this solution is that the software is not built to accommodate the preferences of any particular person or company. Instead, it is tailor-made according to industry standards and can then be modified to suit the fancy of its owner.
White label crypto solutions are also referred to as template crypto solutions, pre-built crypto exchanges, custom-built crypto exchanges, yet-to-be-deployed crypto exchanges, or anything else along these lines. The idea that these titles project is that of a solution that is just missing the last step, which is the approval of an owner. Once that approval is made, the template crypto exchange is uploaded and becomes available to users.
Ultimately, if you can get your hands on these custom-built crypto solutions, you would not need to write any code yourself. Instead, the developers can help you brand it and it becomes yours. After that, you only need to specify what features you need to be included in the solution and get it online.
Why Should You Consider a White Label Crypto Exchange Solution?
1. It Saves You Time and Money
Developing an ordinary program to be deployed online may take the average software programmer anything between an hour and a decade, depending on the expertise of the programmer in question. In the case of a crypto exchange, even the most accomplished web/software developer may need to dedicate at least a year to the project. But a ready-made crypto exchange platform only needs to be branded and then it can be uploaded for use online.
Also, if you want to pay a web/software development team to create a crypto exchange, you may be asked to pay $100,000 or much more. But crypto exchanges available in template form are cheaper. Thus, you can save time and money by getting a ready-made crypto exchange rather than starting from scratch.
2. It Guarantees the Stability of Your Crypto Project
There is only so much that a single individual can do, regardless of how good that person is at whatever they do. The same principle applies to web/software development. Remove Stack Overflow and most programmers would lose their confidence.
But white label crypto exchanges are made by experienced development companies. Therefore, if you can purchase these exchanges from the companies, you face less risk of ending up with a defective solution. And even when you notice a bug in your exchange platform, you can always call on them to fix it for you.
3. It Helps You Scale
Scalability is one of the leading appeals in software design and application. It is impressive that any well-developed digital or technological innovation can have myriad purposes and areas of application. This is one place where pre-built crypto exchanges are incomparable considering that the possibilities for universal application are there from the very start.
Ultimately, if you can get your hands on a yet-to-be-deployed crypto exchange platform, you also gain the chance to apply it in whatever way you need to.
4. It Aids Your Skill and Market Specialization
Similar to how getting a custom-built crypto exchange saves you time, this decision also helps you fast-track the development of your skill. Say that you are an entrepreneur with a strong interest in blockchain solutions, you can learn a bit more about the crypto industry from a pre-built crypto exchange than one that is up and running.
In the same way, getting a template crypto exchange platform allows you the opportunity to choose the market into which you want to dive and specialize. You cannot get this choice of what crypto market segment to focus on if you only focus on existing and functional crypto platforms. And if you prefer to start developing the platform from scratch, you may lose the opportunity to get users since it will take you too much time.
5. It Amplifies the Range of Your Products and Services
The crypto industry and market are virtually run by opportunities. Like every other industry that thrives on fluctuating odds, the more products and services you have in the market, the greater your chances of winning. Thus, the more products you can launch ahead of other people, the higher the possibility of your getting into a good spot for users. With white label crypto exchanges, you can test and deploy multiple products and services and quickly become an authority in the crypto market.
6. It Lends Credibility to Your Exchange
Depending on an experienced crypto fintech company for your pre-built crypto platform says something about your expectations. Smart and loyal users are more likely to sign up with exchanges that have teams of web/software developers behind them than with a loner or a handful of passionate crypto entrepreneurs cum programmers.
Put in perspective, you will likely get several hundred or thousand users on your side if you obtain a white label crypto solution from FintechService. The company has more than 45 professionals, 3+ years of accomplished work, and almost 20 super crypto projects. Any yet-to-be-deployed crypto exchange you get from them will be accompanied by users that are convinced by the quality of their work. Why would you want to start with zero users or luck?
7. It Guarantees Support from Expert Developers
We have already mentioned the fact that custom-built crypto exchanges often come with a team of experts in software development. This means that any issue that crops up after you purchase the template exchange platform will be handled by them. Furthermore, if you decide that you want a crypto white label mobile solution together with the web option that you will likely be offered by your preferred crypto fintech company, this is also acceptable and can easily be arranged by them.
How to Get Your Own White Label Crypto Solution
Now that you know some of the benefits you are guaranteed to accrue once you go for a pre-built crypto solution, how exactly can you go about this? Follow the subsequent steps on how to create your own crypto exchange.
1- Determine Preferred Market Segment:
There are many market segments for crypto solutions. The most popular one is for crypto traders and investors. There are others for NFT buyers, virtual gamers and Metaverse specialists, and even businesses that use crypto for buying and selling stuff. Make your choice of these market segments before anything else since your choice would determine where you ought to go for help.
2- Choose Established Crypto Exchange Builder:
The crypto fintech company or web/software development team is the main ingredient for obtaining a white label crypto exchange. These are professionals who know what they are doing and usually have template exchanges ready to be deployed once you agree to the white label crypto exchange price. We mentioned FintechService earlier. You can check them out.
Identify and Authorize Features from Exchange Script: After deciding on a web/software developer, you can select preferred features from the exchange script. Essential features like a liquidity algorithm and customer support are usually already integrated into the custom-built crypto exchange. You may have to ask the crypto fintech team to include connections to popular blockchains and exchanges so that the wallet features can be dynamic. If you don’t have access to template crypto exchanges from up-to-date developers like FintechService, you may have to ask for a special integration of payment options, especially a mix of fiat and crypto options.
Test and Deploy: Once prices have been negotiated and the contracts signed, you can go ahead and test-run the crypto exchange. If it is to your satisfaction, you can deploy it online and market it to users.
Implement Needed Adjustments: From user response, you also have to make adjustments to your crypto exchange. From this, your white label crypto exchange would have matured into a functioning crypto exchange, one with users registered and actively trading, investing, and whatever else your exchange platform allows them to do.
Conclusion
Overall, white label crypto exchanges are awesome. They save you time and money, improve your chances of managing bug-free web solutions, and help you accumulate the fortune of satisfied users. But, you have to be deliberate about the crypto fintech team you contact for the exchange platform, making sure that they are experienced and established experts in all things crypto.