With digitization virtually running all operations in the globe, cryptocurrency has become a force to reckon amidst the competitive financial markets. As business firms look to improve the intensity of operations by cutting down on costs and time involved in processes, White Label Exchange is the best bet for the job.
White Label cryptocurrency exchange – Simplified
It contains top-notch functions supported by a robust backend process that guarantees an enhanced trading experience for every investor. Since these exchanges can withstand turbulent changes in markets, it is the ideal way to battle uncertainty. With more priority on performance and satisfying the requirements of a firm, it can be readily deployed for daily operations. Startups with limited financial resources would prefer White label solutions.
Merits of a White label Exchange
- Quick deployment – While creating an exchange from scratch involves crossing a lot of technical and legal hurdles, White label exchange can be developed in a few days or weeks. It can be fastly implemented in different functional areas right away. Those startups looking for quicker expansion would find it beneficial to procure a White label exchange.
- Dependable – White Label Cryptocurrency Exchanges are pre-tested several times by teams well-versed with different functions. With strong in-built solutions, any glitches that may arise during usage can be fixed instantly. This creates more trust among clients as constant maintenance support will be rendered throughout the life cycle of the software.
- Customization – A personalized experience would be rendered for every firm that procures the White label cryptocurrency exchange. While the basic characteristics of the software cannot be modified, the firm can highlight its standing in the market by making changes to its logo, UI/UX, and color theme. This would help in refurbishing the company’s existing brand image and showcase itself in a better way.
- Saves money – Since a White label solution comes equipped with all the latest functions, a firm can save costs incurred on separately paying developers, designers, lawyers, and other parties. Companies need to pay only one provider who delivers all the services in an exclusive package. This helps an enterprise to reduce the overall software development costs. With flexibility ensured for the production environment, the glitches involved in the production process are also cleared quickly.
- Non-requirement of technical expertise – An exchange owner need not possess much technical knowledge when it comes to handling a White label Cryptocurrency exchange. Guides on daily usage would be provided by the solution provider, ensuring seamless functionality.
- More importance on core operations – With the burden of software development set aside, companies can attach more importance to marketing and public relations. They can devise tailor-made strategies for different segments of the audience based on demography. This will help a firm in improving its existing processes and devising a market-friendly solution.
Factors to take into account before acquiring a White label cryptocurrency exchange
- Complying with regulations – Since not all governments and regulatory bodies are friendly towards the operation of White label exchanges, companies can face hurdles in operation if they do not comply with the laid down guidelines. Every firm must have a legal team to deal with these issues.
- Market research – Every enterprise should undertake a detailed market analysis before procuring a White label cryptocurrency exchange. Every region would have different complexities, and a firm must know the impact of those factors on its operations. Compliance with KYC (Know Your Customer) and AML (Anti-Money Laundering) guidelines are needed to safeguard user’s data and money.
- Presence of basic features – Some elements are mandatory irrespective of the type and cost of the software. Every White label exchange must possess a reliable trading engine, a robust wallet, a well-performing admin console, and a seamless user interface for managing daily operations smoothly. The presence of extra features would enhance the overall performance.
- Liquidity – The ability to trade assets conveniently in exchange for crypto or fiat currency refers to the valuable aspect of liquidity. It helps in better expense management and upgrades the trading experience. White label exchange must offer the adequate capacity to handle large volumes of orders and transactions that simultaneously occur between different parties. Different stakeholders would be benefitted if the exchange platform has tie-ups with leading networks through API.
Every enterprise must also know the different types of exchange available in the market. The commonly known exchanges are
- Centralized – It involves the presence of an authority to perform transactions and meet the needs of buyers and sellers.
- Decentralized – It works on a trustless mechanism and uses the peer to peer model. No third party is involved. More freedom is given to the participants to handle their funds.
- Hybrid – It consists of a mix of features of both Centralized and Decentralized exchanges. They are run by third-party operators but comply with guidelines given by regulatory authorities.
For a well-performing White label cryptocurrency exchange, reach out to the experienced developer team of Blockchain App Factory. They possess market-friendly solutions for fulfilling your business objectives successfully.