- Know the type of bitcoin trading platform you have planned to launch. Each type of crypto exchange will have a different cost.
- Most of the traders are now looking for a Binary options trading platform.
- Choose whether you are going to move with Whitelabel services or developing from scratch.
Wondering what the costs would be to develop a cryptocurrency exchange? Go ahead and get your solution answered! The most popular forms of trading in today’s world are cryptocurrency trading platforms. These exchanges allow the buyer and sellers to perform transactions in a hassle-free manner. As an owner of a crypto exchange, the proprietor receives a charge as a trading fee.
Hence, most of the entrepreneurs have a keen passion to start a crypto exchange. This blog will provide you with the details of the cost involved in developing a cryptocurrency exchange on your own.
Cryptocurrency Exchange Development Cost: Multiple Approaches on how it depends
Knowing the type of Crypto Exchange Platform to launch
Initially, know the type of bitcoin trading platform you have planned to launch. Each type of crypto exchange will have a different cost. There are multiple types of exchanges like:
1. User to Admin Exchange
In this type of trading platform, an intermediary or middleman will be responsible to perform buy and sell orders. The admin will have control over the functionality and the user’s wallets in the exchange.
2. Decentralized Crypto Exchange
In decentralized cryptocurrency exchanges, there is no such intermediary to facilitate the transactions between the parties. You can enhance reliability and security for your users if you develop a decentralized exchange.
3. Hybrid Crypto Exchange
As the name suggests, it is a mixture of both centralized and decentralized crypto exchanges. It resolves the disadvantages of both the platforms and brings an effective bitcoin trading platform.
4. Order Books Exchange
You can now build Order Books Exchange platforms similar to Binance, Poloneix to instantly facilitate buy and sell transactions between the parties.
5. Ads based Exchange
This type of exchange is for Ads. If you look at popular exchanges like Locabitcoins, Remitano, they support this feature.
6. Binary options trading platform
Most of the traders are now looking for a Binary options trading platform. You can create this kind of exchange, for beneficial profits.
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Choose whether you are going to move with Whitelabel services or developing from scratch
This is the most important decision you should make. If you have urgent requirements, it is better to move and buy a White label crypto exchange software. Since the modules are already developed and tested, you just need to deploy and install it to get started with a crypto exchange. Moreover, the cost of white label crypto exchange software is also reasonable.
But in the case of developing from scratch, everything should start from the beginning. Right from the technology to brand deployment. This can provide you with additional costs as well as the time.
Therefore, choose the one wisely.
- Check for the Time and Budget constraints
Remember, the more quickly you need the product, the more that should be reflected in the budget. As the team involved will be quite larger for instant deployment, you must layout the time and budget constraints.
- Technical Features
This also plays a crucial role in deciding the cost of the crypto exchange. Here are some of the features one can integrate into their exchange platform:
- Mobile Trading App for Android, iOS
- Integrated IEO Module
- Security Token Exchange
- Liquidity API
- Atomic Swaps
- Margin Trading
- Multi-Sig Cryptocurrency Wallet Integration
- Referral Programs
- Admin Console
- Issuer Console
- Market Making
- Trading Bot
- Cryptocurrency Ticker API
- Rest API
- Leverage Trading
- Futuristic CMS
In addition to this, you should give #1 priority to security. Here are the mechanisms which you should have:
- HTTPS Authentication
- Data Encryption
- Anti Distributed Denial of Service (DDoS)
- SQL Injection Prevention
- Cross-Site Request Forgery (CSRF) Protection
- Anti Denial of Service (DoS)
- Server-Side Request Forgery (SSRF) Protection
- Jail Login
Zab Technologies, the top-notch solution provider renders the above set of entities and security features in their Whitelabel crypto exchange software. At Zab, the cryptocurrency exchange development cost depends on all these requirements for instant deployment!
Get connected with our experts for a fruitful and a meticulous crypto exchange solution!