Cryptocurrency is one of the biggest phenomena in the digital world. Many are predicting that it may completely replace fiat money in the future leading to a huge change in the traditional banking systems. Though cryptocurrencies suffer from extreme market volatility, Bitcoin recently reached an all-time high of ,000 due to huge demand from institutional investors. Hence, the time is ripe to develop a White label cryptocurrency exchange software and rake in the benefits.
What is a White label crypto exchange platform?
It is a ready-made solution that can be quickly launched in the market at an affordable cost.
A business firm can add its brand name, logo, colour theme, and UI/UX design to the solution according to its needs.
It can be used for trading cryptocurrencies, converting fiat into crypto, and exchanging any kind of token.
The risk of failure is less as an experienced white label crypto solution provider has done this many times and ensures that there are no bugs present in the final product.
They are built on microservices architecture hence making them adaptable to new customer needs.
A White label crypto exchange is highly scalable and can optimize the trading capacity without disrupting the existing functionalities on the platform.
You have to take into account factors like the solution architecture being used by the provider, the platform’s storage capabilities for holding digital assets safely, the compliance standards, and the security measures being implemented.
It is easy to use and there is no need to possess any technical knowledge to operate the platform.
The procedure to follow to build a White label exchange software
Gather all your business requirements.
Collect an order list made by the traders in the market.
Prepare interactive trading charts and graphs for the users so that they can compare the different trading pairs available on the platform and take a good investment decision.
Decide the budget you can afford and the time-frame you can spend for the white label crypto exchange development.
Enable secure deposit, withdrawal, and deposit options for the users. It must support the leading fiat and cryptocurrencies.
Integrate a price aggregator into the exchange that gives real-time pricing alerts to the users whenever there are any changes.
Integrate the trading kernel which acts as the central part of the entire operating system.
Ensure that your user interface is compatible across a range of devices and operating platforms.
Set up a default exchange containing the basic features.
Make sure that the operational server is ready.
Deploy the software on your main network.
Render 24x7 customer support to ensure greater user retention.
The key highlights of a White label crypto exchange
A powerful trading engine that matches all the different orders raised by the buyers and sellers, like market order, limit order, stop-limit order, take-profit, and stop-loss orders with low latency. It acts as the cornerstone of the entire exchange platform.
An intuitive user-friendly interface that ensures that trades are executed fastly and transactions are processed smoothly without facing any glitches. The user interface must suit the needs of both amateurs and professional traders. The basic functions must be easily accessible with touch options and widgets.
Integrated hot and cold crypto wallets that act as a safe avenue for the user to store his digital currency holdings. It will be protected from any external access.
A robust admin console for managing all the operations on a real-time basis. It monitors all the transactions made by the users and has access to their crypto balances on the platform. The admin will have the power to add new currencies into the platform, handle the collection of the commission from the trading activities, and manage the different trading pairs.
A multi-level referral program that gives rich rewards to users for promoting the exchange platform to new users. If a new user signs up and trades, the person who shared the referral link with him receives a defined percentage of the trading fee as a reward.
Sufficient liquidity by sharing the order book with an external network, establishing APIs with the leading external exchanges, and availing market maker services from external providers.
KYC/AML verification of all the registered users on the platform to ensure an authentic trader base. This ensures utmost transparency and prevents any fraudulent activities to occur on the platform.
Ensuring efficient fund management of the users by automatically managing all the transactions. Integration must be offered with payment processing providers and banking interfaces.
Rendering technical support round the clock in multiple languages to deal with the queries and glitches faced by the users.
A margin trading option that allows traders to amplify their earnings by opening both long and short positions on specific cryptocurrencies.
Providing real-time data analytics and reports that indicate the trading pattern and offers realistic future predictions. It must depict different aspects like transactions, revenue, and profits.
A bot trading facility that capitalizes on the various market opportunities on a real-time basis and trades assets round the clock even when the users are not physically available for trading.
Taking security measures like two-factor authentication, anti-phishing software, end-to-end encryption, anti-DDoS protection, multisignature cold storage facilities, firewall implementation, GeoIP blocking, intrusion detection, source code encryption, jail login, password-protected user access, and automatic trade anomaly detection to preserve the safety and reputation of the white label cryptocurrency exchange platform.
Hence, make full use of all the advantages provided by a White label crypto exchange platform and become an integral part of the digital revolution.
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briellearia Joined: November 24th, 2020 Articles Posted: 2
