White label software is a software that a company brands as its own. In most cases, it is sold as software under the (SaaS) model. The parent company uses a white-label software for selling or leasing based on an annual or monthly subscription. There are various reasons to consider white-labeled software products for developing a crypto exchange. Read on to find more.
Why Choose White Label Software?
A white label software enables you to focus more on your business rather than the development part. As it saves a lot of time, money, and effort, considering to get one would provide you with a lot of advantages as mentioned below:
- The cost of white-label software is less when you plan to develop and exchange and from scratch. Development time directly alters to development costs, and as you need not spend much time developing, it may cost pretty less. As you spend less time developing, you can beat the market quicker, ending with better earnings.
- These solutions are pretty simple to personalize. You can consider them to be the IKEA furniture of crypto exchange solutions. They have been developed to focus on being remarkably customizable. One can personalize the crypto exchange platform as per their regulatory needs, business requirements, and the nature of the crypto exchange they would want to build.
- No technical experience is needed when you want to oversee the development. It indicates that your focus can be laid on the business and not on the auxiliary aspects like the development. It additionally signifies that the crypto exchange solutions happen to be available for anyone to adopt even if they are not aware of cryptocurrency or related technologies.
Benefits Of Choosing Bitrump As A White Label Crypto Exchange In UAE
Bitrump is a global trading platform for digital assets, based in the UAE. Bitrump supports crypto coins like Bitcoin Cash, Bitcoin, Tether, Litecoin, and Ethereum. Blockchain pioneers and enthusiasts established Bitrump.
Bitrump’s central unit comprises specialists from world-renowned web and finance organizations. That includes the most advanced adopters/experts of crypto who have in-depth knowledge of global operations, blockchain R&D, and other such services within the crypto business. It happens to be the first-ever provider of white label cryptocurrency exchange infrastructure in the UAE. Here are some of its features:
- Extensive options for cryptocurrency and trading pairs
- Multi-signature technology is available.
- Key-encryption improves cold-wallet security.
- Instant KYC verification.
- Prompt AML authentication.
- Higher liquidity compared to other exchanges.
Step-By-Step Guide For White-label Crypto Exchange Development
If you choose to develop an exchange by leveraging the white label software solutions you need to understand the numerous steps to get the coveted outcomes. The step-by-step guide here will help you in navigating your exchange development project.
Get required licensing regulations as per the concerned geographical location.
While embarking on your journey, legal formalities must not be ignored. Every nation has distinctive legal demands that need to be met for beginning a white-label crypto exchange company. Meeting the legal necessities make different processes hassle-free.
Examine the cost needed and inquire about the financial support
Developing an exchange with white label software demands a direct expense on your end. There is a lot to be done between the time of initiation and monetizing your project. You need to save a particular amount for financing the project or a monetary backup to sustain it within this period. The overall charges involve marketing, hosting, technology cost, and advertisement.
Connect yourself with popular crypto exchange software-development organizations
Associate with renowned white-label crypto exchange development organizations. If you remain unaware of the technology’s obstacles, the specialists of such companies are equipped in managing such problems in advance.
Aim for higher liquidity of your crypto exchange
By picking your crypto exchange for buying and selling, traders invest their money and wait to get profits in return, whenever they want. To match their demands, you should ensure as many partners as feasible to secure high liquidity. Target higher liquidity than others to gain an inherent ambitious edge.
Keep collaborating with the payment processor
When establishing a fiat-to-crypto clearinghouse, you have to collaborate with payment processors. Various payment processors impose various fees concerning the transactions done. Make sure to connect with a popular and secure payment processor charging the minimum fee for transactions. While making a deal, make sure that there are no concealed or hidden expenses imposed by the payment processor. Also, make sure to understand the cybersecurity protocols.
Combination of superior security features
Maintaining your white-label cryptocurrency exchange’s security happens to be paramount because it deals with a substantial amount of money. Make sure to reinforce your exchange with useful features like 2-factor authentication, login security, automatic limits, and encrypted user access.
Conduct beta testing
Beta testing happens to be a kind of software testing where particular audiences use the products and detect the flaws. It allows addressing the problems that have surfaced in the phase of development. Therefore, all errors, surfaced, can be taken care of before you make the exchange live and present it to the broader audience.
With that being said, a white-label software for your crypto exchange can be beneficial in many aspects, some of which we have explained above. Check out the sections mentioned above and consider a white label crypto exchange for greater advantages.