With the current augmented digital currency and online trading in the marketplace, the increasing demand for cryptocurrency trading platforms is quite apparent. From the business point of view, it is the ideal time to launch your cryptocurrency exchange platform and earn big profits. But it is easy to build an online trading platform, or we can use a much more accessible or convenient way. Yes, it is, with a white-label cryptocurrency exchange.
Though many businesses use the mainstream way to create their online trading platform from scratch, others prefer while-label to do the same. But the main question is which one should you choose and why? Here, we will help you make a fair decision to build your ideal crypto trading platform by explaining the pros and cons of each.
Before proceeding any further, let’s understand the two types of exchange thoroughly.
What is a White Label Exchange?
“White Label” is a word that refers to a ready-to-use or deploys crypto platform which businesses can customize to make a brand new crypto trading platform like they want. It means you can get an entirely new branded trading platform that everyone will think you’ve made on your own. And since it’s a white label, anyone can change or alter the features per their project type to businesses to expand their offerings.
How Does It Look When You Build A Crypto Platform From Scratch?
When you create a crypto platform from scratch, you must build an entire online marketplace from the beginning, from choosing the right technology to adding additional features and coding to testing the prototype.
Building a platform from scratch doesn’t only add more time to your project but also adds extra costs that you can avoid easily.
What is the difference between White-Label and Development at Ground Zero?
Building a platform from scratch means you need an entire team of front-end developers, back-end developers, designers, lawyers, programmers and quality analysts from designing to testing the product. As everything has to be done from the start, from designing the page to integrating modules, and deployment of the platform, the cost will inevitably increase.
On the other hand, white-label means that you do not have to prepare anything from scratch. You will get everything from ready-made modules to tested landing pages and have to pay a single provider. To build a unique exchange, users get customizing options for designing an entire format. Also, you spend less and save plenty of money on the development cost.
Deployment is a process of bringing resources into effective action, which is quite a task in case you opt for Development at Ground Zero.
The most challenging tasks come during the initial phase of development, and after its successful completion, you still have to do the testing to find any bugs or technical issues. You need to be sure that whatever the bug is, it should be resolved in the first place and doesn’t impact the overall performance.
Testing is done to check the platform’s design, functions, speed and many other things that must be checked before its official launch.
But, when it comes to white label crypto exchange software you fasten the deployment speed and save time & effort. With easy customization options, you do not have to worry about being distinct from others.
2. Optimum Security
When you own a pre-designed & tested crypto exchange software, you ensure that all the security measures are already implied to protect users’ money and information from cyber-attacks. With white-label, you get a trustworthy provider of wallets, devices and ideal policies on money transactions and holdings.
3. Unique Platform with Full Customization
With an easy customization option with white-label softwares, anyone can start their crypto trading platform, which is unique in design and functions.
Making a platform from scratch comes with its own set of flexibility and creativity but takes up more time and energy. But with white-label, you can take advantage of its full customization feature to your business advantage.
While on the one hand, when you build an exchange, you get unique source code and its ownership. But on the other hand, white-label allows your source code when you ask for it; some agree to give it, while some refuse to provide the source code in the package.
Whether a white-label crypto platform or a new exchange platform, a crypto development service provider excels in all crypto development techniques, including Appinop Technologies. With more than 6+ years of experience, they have a hand in building top-functioning, cost-effective crypto development services.
While both options for developing a cryptocurrency exchange software have their advantages and disadvantages, choosing between them will depend on many factors, including budget, deadline and customization flexibility. The final choice is in the hands of the owner regarding what specifications they would want in their exchange.
With Appinop Technologies, you also get a free counseling session with a Cryptocurrency and ICO news specialist to choose which plan is suitable per your objective and goal.