Technological advancements have always been the driving force behind significant social changes. Some other common factors are wars, natural calamities, disasters, pandemics, etc. Speaking of such, the currently ongoing pandemic, the COVID-19, is probably the worst the world has seen in the past few decades, which has taken a toll on our day-to-day lives and mainly businesses. Having said that, there has never been a more exciting time to invest in cryptocurrency and cryptocurrency exchange businesses. Let’s see why.
Owing to the COVID-19 pandemic, many countries have imposed lockdowns and social distancing norms as a measure to stop the spread of the virus in their respective countries. This pandemic doesn’t seem to come to an end anytime soon which means there are chances for these changes in social interactions becoming irreversible. This could change our lives, and businesses forever. This is the reason why businesses are further moving forward towards digital transformation, and we are moving further towards a cashless society on the whole.
The growth and demand of the crypto market has become noticeable like never before in this pandemic season. The cryptocurrency market capitalization has continued to evolve and hit a high of $265.545 billion, in which Bitcoin alone accounts for $6 billion of daily online transactions. The global cryptocurrency exchanges around the world have exceeded more than 300 as of 2020. This is all because there is no better way to keep your business going, and fetch profits out of it, than creating your own cryptocurrency exchange in this current scenario.
With a cryptocurrency exchange, there is no need for personal contact. You can carry out your business from wherever you are through the internet and earn steady incomes by bringing in potential investors to trade in your platform. With the current favorable situation for crypto businesses, and rapidly growing demand, entrepreneurs are looking to effectuate their exchanges as soon as possible to reap maximum benefits and profits. This is why, obtaining a white label cryptocurrency exchange software is the perfect business choice to raise from these dark times.
What is a white label exchange and the idea behind it?
A white label cryptocurrency exchange is nothing, but a more enriched version of a crypto exchange, offering more swiftness, seamlessness, security, efficiency and reliability to the users. A white label exchange software is a ready-to use solution, built by a team of experts considering every essential feature and functionality for the exchange to run glitch-free. All the exchange owners have to do is purchase the software and customize it according to their personal preferences.
White label exchanges are currently ruling the market. Therefore, a multitude of companies have come forward to offer white label solutions to help customers kick-start their crypto businesses, for various types of exchanges such as,
White label Bitcoin exchange software
White label leverage exchange software
White label peer-to-peer exchange software
The main idea behind the emergence of white label exchanges is to help customers with a quick, efficient launch to gain a competitive edge in the marketplace. There are numerous other benefits involved with a white label exchange software. Let’s take a look.
Perks of a white label crypto exchange software
As mentioned earlier, a white label exchange is more reliable as the development is handed over to market experts. Also, white label exchanges are completely tested before being delivered to the customer, and ensures bug-free operations.
To utilize favorable market conditions like right now, and make the maximum benefits out of it for your business, there is no better option than a white label exchange software as they are quick and efficient to launch, and cost-effective. While the entire development process is taken care of by the team you hire, as an exchange owner, you can just focus on running and further enhancing your business.
White label exchanges eliminate barriers to entry that exist in launching an exchange built from scratch.
White label exchanges are highly flexible, scalable, and customizable.
On the whole, the demand is constantly increasing for white label exchanges because they help you with the most efficient, effective, streamlined launch of your business. If you choose the right team to acquire your white label exchange from, you are guaranteed quick and enormous traction among your potential customers, and a hassle-free business experience.
As of 2020, investors and entrepreneurs who want to launch an exchange are spoilt by too many choices. It might be overwhelming, which is why, the below list of factors will help you choose the right platform,
Safety and security should be the top priority. Entrepreneurs must ensure that the white label exchange is integrated with the best security practices, and functions based on a proper, reliable network to ensure sustainability for their business.
The exchange owners should be entitled to the complete ownership of the software and should be allowed to host the software in their preferred server.
The exchange should comply with every necessary legal framework, should have obtained a license, and proper KYC/AML norms should be followed.
The software should enable multiple cryptocurrency and fiat currencies transactions to support, and multi-lingual support.
A proper technological stack should be used to build the software.
The exchange owner should be provided the flexibility to add or remove cryptocurrencies according to the market conditions.
The software should be flexible to connect with external exchanges for added liquidity.
It is important to analyze the pricing plan and the maintenance support offered by the exchange provider.
The user should be provided with a wide customization scope.
To conclude,
As we discussed earlier, COVID-19 pandemic has largely impacted the financial markets all around the world. But the crypto market remains steady and in fact, more lucrative because of their contactless and non-correlative nature. Also, with the prices of Bitcoin and other cryptocurrencies surging up, there is no better way to boost profits than owning your own crypto exchange platform. Therefore, conduct extensive research, choose the right platform to acquire a white label crypto exchange to rise and shine through these unprecedented times.