Perhaps you have decided to open a cryptocurrency exchange. Perhaps it is part of your venture in blockchain?
Are you looking for a solution that suits your needs and fits within your budget?
The crypto exchange system is complex and requires high levels of security, performance, and complexity in operation. It is expensive and risky to develop a cryptocurrency exchange from scratch. You should consider an existing platform if you're considering your options.
Although white label crypto exchange’s are not as popular as CMS, there are still many strong players who offer white label solutions.
How can you compare them? Which questions should you ask?
We have compiled a list of key topics based on our experience using multiple platforms.
- Sharing mode: Just like site hosting, do you get a separate instance of the platform?
- Pricing: Does it have a monthly or yearly price structure? Is it inclusive of any revenue sharing? What is the cost of initial installation?
- Hosting: Who is responsible for hosting the platform's website? Is it possible to host the platform on your servers?
- What kind of support/maintenance plans does the provider provide? What about SLA?
- What security features are there on the platform? Is the platform subject to penetration testing by a recognized authority? Is it allowed to conduct your own penetration testing
- Closed / open code :
- What technology stack is in use?
- If it is an open-source solution, under what kind of Software license is it distributed?
- If it's a closed-source:
- You will receive a code of this code.
- Can you modify the code?
- What customizations are possible?
- Does KYC provide KYC? Is it possible to override?
- What fiat currencies is the platform compatible with? This is possible? Is it possible to modify customers' fiat balances manually by the backoffice operator?
- What are the supported methods for fiat currency withdrawal / deposit (bank accounts, credit cards, etc.)
- What cryptocurrencies is the platform compatible with? Are you able to add more?
- Is the platform able to charge custom fees? Taxes in your area
- Is the platform capable of custom branding? Logo? Templates? How to change the look and feel of your website from scratch.
- Do you have full access to your backoffice? Is it possible to configure access permissions and roles so that you can fully control back-office users. How can backoffice access be protected?
- All standard trading options (limit/market / stop-loss orders) are supported?
- Is the platform compatible with external exchanges and market makers for greater liquidity?
- What reports are default available? Can you create custom reports?
This checklist will give you a solid way to compare the offerings of different providers.
Need VIP support in setting up your cryptocurrency exchange? Do you need professionals to assist with your technological and business decisions?
