If you’re starting a business, it is imperative to have a solid plan before you hit the ground running. It doesn’t guarantee you that you will reach your business goal that easily, but it will surely reduce the risk of losing a lot of money and keep you and your business stable.
In this article, let us learn 10 things to do to start a white-label cryptocurrency exchange.
With every passing week, we get to see a new crypto exchange is born. Have you thought about how it is possible to launch a fully-functional exchange in a few week’s time? The answer is a white-label solution.
A white-label crypto exchange solutions are a ready-made licensed software that can be customized and scaled based on your business need. Most importantly, it is quick and easy to deploy without any technical skills.
As an entrepreneur, you will have an urge to create a solution for your business on your own. That’s a good thing, but we all know that it involves a lot of research, planning, a team of developers, designers, subject matter experts, time, and money.
The moment you complete all your preparatory work and launch your exchange, you will find a new set of competitors in the market along with the existing one. So, taking up a white-label cryptocurrency exchange development solution will be the right decision and to take advantage of the market.
10 things you need to know to start your exchange:
- Identify the type of exchange you want to launch
It is a crucial step for every investor who needs to start a cryptocurrency exchange has to decide, before deciding on other things.
Three types of exchange platform:
Centralized Exchange
Decentralized Exchange (P2P)
Hybrid Exchanges
- Conduct Through Market Research
- Identify the location to launch your exchange (Jurisdiction of the Exchange)
- List of crypto-friendly countries:
- USA
Malta
Estonia
Hong Kong
Singapore
- List of crypto-friendly countries:
Recently, the Indian Supreme Court passed ruling against the RBI’s ban on cryptocurrency in India.
- Consult with the Legal Experts
Identity the cost White-label cryptocurrency exchange development
Partner with experienced cryptocurrency exchange development company like Blockchain App Factory
Discuss and decide on the features you want to integrate into your exchange
Introduce your crypto exchange to your target audience
Do Pre-launch and Post-launch marketing to your exchange
Deliver round-the-support
CONCLUSION:
With the surge in popularity of cryptocurrencies among traders and investors, many governments worldwide are exploring the ways and means to regulate and accommodate cryptocurrency into their financial system. So, it is the right time to start your exchange and reap more benefits.
For all your queries, contact industry experts from Blockchain App Factory.
