One of the biggest questions doing the rounds of the cryptocurrency market is – whether to build a cryptocurrency exchange from scratch or choose a white label solution?
If you are planning to build a cryptocurrency exchange, you are more likely to ask the same question. This article explains the pros and cons of both white label exchange and developing the one from scratch, to help you make the right decision for yourself.
Let’s begin with understanding each type of exchange.
What is a white label exchange?
A white label Bitcoin exchange software is readymade software integrated with all the primary features of a crypto trading platform. It has the core, the backend and the database ready; the front-end can be easily customized to incorporate your brand logo and color theme.
What does it mean to build an exchange from scratch?
Developing a cryptocurrency exchange from scratch means doing every single thing right from the beginning – choosing the right technology; deciding upon the features; getting the development done; testing the platform; deployment of the platform; and more. It requires a lot of time and cost.
White Label Exchange vs. Development at Ground Zero:
Development Cost
When building an exchange from scratch, you would have to pay different parties, such as front-end and back-end developers, the designers, lawyers, and other experts. Moreover, as everything needs to be done from the starting – such as designing the exchange’s landing page, building the modules, integration of the modules, testing, and deployment – the cost would indubitably be more.
With a white label solution, you need to pay only a single provider. Furthermore, the modules are ready-made, the testing has been done already and even the landing page is ready – just a few changes in the design and your customized exchange is ready for launch. With little efforts required to prepare the white label exchange for your business, the development cost is also less.
