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2023 Top Features of White Label Crypto Exchanges
Introduction
What features of crypto exchanges interest users the most? This is a question that many creators and intending creators want to know. Despite the ease with which many critics are claiming that the crypto industry has reached its peak and started to decline, the fact is that far-sighted users are homing in on the new opportunities in the industry. Having and managing a crypto exchange is one such opportunity.
So, if you are reading this article, you have chanced upon an avenue to make more money from the crypto industry and become a leading authority in the market. Of course, this is assuming that you can maximize your prospects and gain ownership rights of a white label cryptocurrency exchange solution.
Therefore, this article provides some of what you need to know about the top features of a white label crypto exchange. The article first outlines what this kind of crypto exchange is and then lists features that appeal to most users. It ends with how you can get these features in your crypto exchange platform.
What is a White Label Crypto Exchange Solution?
A white label crypto exchange solution is simply a ready-made version of a platform for trading cryptos. This platform is no different from popular crypto exchange platforms that you know, for example, Binance and Ethereum. The biggest difference between a white label crypto exchange and these popular platforms is that they are more developed and have been personalized to reflect the preferences of their owners.
Similarly, once you become the owner of a white label crypto platform, you can decide everything about it. This includes what the platform looks like, its name, its functions, what cryptos users can trade on it, how they can engage the market, and so on. This way, you become an administrator of a crypto exchange platform, one that you wouldn’t need to know everything about to manage.
In a nutshell, white label crypto exchanges are the blank cheques of crypto exchange platforms. Because they are almost completely developed, you would only need to provide personalized branding and some extra information about preferences before you put them online and let crypto users register and trade on/with them.
Top Features of the Best White Label Cryptocurrency Exchange Platforms for 2023
1- Trading Engine
A trading engine is the most basic of all the features of a crypto exchange platform. It is also the fundamental feature of a white label exchange. The purpose of the trading engine is to allow users to interact with the crypto market and keep records of trading activities. Of course, because the market is virtual, the record-keeping role of the trading engine is very important.
Some white label exchanges have a rudimentary trading engine feature. However, if you can get a white label crypto exchange from a solid developer, you wouldn’t have to pay extra for advanced trading engines that have the full capability to engage users.
2- Wallets
Crypto wallets are the second-best features on crypto exchanges that users require to run their trading activities. Like a physical wallet, crypto wallets function as a storage unit for your valuables. These wallets are virtual pockets for users to store their tokens and funds. Thus, if a crypto user wants to send funds to their crypto accounts to be used for trading, they need to use a wallet. The same goes for if they want to withdraw funds from their crypto accounts.
So, the wallet feature is another leading feature of white label crypto exchanges for 2023. If you purchase such an exchange, make sure that it has a dynamic wallet. Keep your eye out for one that allows users to fund their accounts using VISA, MasterCard, and other convenient methods.
3- Liquidity Hub
Investing is half of the crypto trading experience. Whenever you find a crypto user who is not an active trader, you can be sure of one of two things: the user is an investor who plans their trading ahead of time and does not participate in the ‘gambling’ and uncertain processes, or the user is not very good at trading. In either case, liquidity pools serve as an attractive feature for all crypto users, whether they are active traders or not.
Crypto exchanges are usually only very attractive to users when these platforms have innovative liquidity pools. This is why a white label crypto exchange with a robust liquidity hub feature remain is considered to be well-made.
4- Intuitive User Interface
An intuitive user interface is another top feature of white label crypto platforms in 2023. This feature is highly sought after because of the focus on simple interfaces. Considering that everything can be evaluated as offensive or insensitive these days, the best crypto exchanges have redesigned their interfaces to make them more exciting, minimalistic, and able to reflect utility.
Furthermore, the more options for user engagement you have on your white label crypto exchange platform, the better. So, if you can get something like a ready-made crypto exchange by FintechService, with web and mobile interface options built into the white label, go for it.
5- KYC Verification
When the crypto industry started making waves among ordinary people, decentralized exchanges were popular. This was because of the freedom over finance that they gave their users. However, after some of the most devastating crypto scams, users became less confident in faceless exchanges and considered exchanges with KYC (Know Your Customer) requirements.
So, many crypto users prefer registering with exchanges with KYC since they are more likely to be licensed by governmental authorities. This would suggest that they can be held accountable for their actions, and this is extra security for users. Thus, it is not surprising that many users prefer exchanges with the KYC verification feature to those without.
6- Notifications
One feature that shockingly made the list of top 10 crypto exchange features is the notification bell. This feature is often taken for granted in the sense that it does not actively contribute to crypto trading activities. But users rely on this feature to know when funds they transferred, for example, have been delivered to their wallets, or a token they have been eyeing is available for trading.
Therefore, as you make a list of what should be included in a white label crypto exchange before you can purchase it, make sure to include the notifications feature.
7- User/Customer Support
The user/customer support feature may not be as invisible on crypto exchanges as the notification bell, but it comes close. On the surface, this feature enables a crypto user to reach out to the developers or managers of a crypto exchange for help. However, users typically look out for this feature before they register with an exchange platform because its existence suggests to them that the developers and administrators are reachable.
As a result, if you want your users to be confident in their choice of crypto exchanges, be sure to check out this feature before deploying your white label crypto platform.
8- Flexible Options for Branding
The last feature you should keep an eye out for is the option for branding. This is not exactly a feature, but it is a must-have for any white label crypto exchange before the exchange can be considered usable. After all, the very point of getting such an exchange is that you can modify it to reflect your preferences. Therefore, if you get a ready-made or ready-to-be-deployed crypto exchange and it does not allow you to brand it extensively, you might as well learn how to create your own crypto exchange from scratch.
How to Get Top White Label Crypto Exchange For Yourself
Now that you know what some of the top 2023 features of white label crypto exchanges are, how will you get them for yourself?
1- Become an Expert Developer
As we concluded from the last feature (flexible options for branding), if you cannot get a usable white label crypto exchange, you can create one yourself. Truth be told, becoming an export web/software developer is difficult. However, there are many tools out there you can rely on to write code for a crypto exchange platform and implement them. So, once you have mastered the development process, you can go on and create your crypto exchange platform with all the features included in this article.
2- Contact Crypto Fintech Companies
The easier method of getting the features (listed in this article) into your crypto exchange is to contact a crypto fintech company like FintechService. Such software development companies are great at what they do. With FintechService, especially, you won’t be required to pay outrageous prices. Instead, you can count on the guys at FintechService to charge you a reasonable white label crypto exchange fee. Furthermore, FintechService can help you make any changes and personalized branding choices to your crypto exchange in three weeks. Moreover, the template white label crypto exchange is already fitted with all of the features included in this article.
Conclusion
White label cryptocurrency exchange solutions are only valuable when they can get you committed users. If you can find such ready-made platforms with the features outlined in this article, don’t hesitate to get into negotiations with the developers.