It’s Time You Considered Building Your Own White Label Crypto Exchange
Unlike the traditional exchange, the cryptocurrency exchange is a platform that allows the exchange of digital assets and cryptocurrencies. There are various benefits of using a cryptocurrency exchange platform. These benefits are for both traders on the exchanges and the owner of the crypto exchange.
Here, we will talk about why you should build a white label crypto exchange. Also, the supporting statistic and benefits associated with building a crypto exchange platform. The future of the crypto exchange platforms, in general, is also considered.
Latest Statistics About White Label Crypto Exchange
To build crypto exchange platform, here are some of the most important statistics to put into serious consideration
- The daily transactions for bitcoins is about 363,000 transactions
Due to its huge usefulness and integration, there is an average of 363,000 transaction involving just bitcoin daily. This is the statistic excluding other equally viable cryptocurrencies on the blockchain.
- There are about 40 million blockchain wallet users worldwide
To show the amount of acceptance worldwide, there are about 40 million blockchain wallets users from around the world. This provided market is not tied down to geographical location. This is because the transactions are carried out through the internet with the blockchain wallet.
Benefits Of Building A Crypto Exchange Platform
Irrespective of the type of crypto exchange software solution used to build your crypto exchange platform, several benefits come with it. There are several crypto exchange development companies that offer white label crypto exchange. Some of the known benefits associated with building a crypto exchange platform include
- Worldwide use of cryptocurrencies and other digital assets
Following the trend of the past decade since the arrival of cryptocurrencies, people have made the transition to the digital currencies. This is evident in the amount of cash flow that comes in form of investment or direct purchase of cryptocurrencies. In the nearest future, cryptocurrencies are primed to be used as a means of money flow
- Adoption of blockchain
With the growth and development of blockchain technology, there are numerous adoption and integration of blockchain technology into various sectors. This also includes adoption by governmental agencies. Building a crypto exchange now puts you ahead of the game. Projecting into the future, it is expected that cryptocurrencies will become dominant with different government-approved cryptocurrencies.
- Cryptocurrency exchange platform trading
Due to the vigorous development of more cryptocurrencies, the growth in the price of cryptocurrencies is bound to go up. Due to the increase in price, it will have a huge impact on the crypto exchange and the crypto world in general. Every crypto exchange development company is currently out with various features that are beneficial for both businesses and the traders’ community.
- Disruption of traditional banking industries
The crypto exchange platform will become the new financial and banking platforms through which transactions are carried out. Dynamic banks will also accept cryptocurrencies to enable the reduction in complexities.
Build Your Crypto Exchange Platform
Listed below are the necessary steps for starting your white label crypto exchange
- Obtain legal counsel for meeting the licensing requirement
- Acquire required funding for the crypto exchange
- Go for the best white label crypto exchange development companies
- Integrate your exchange with others for liquidity
- Partnership with payment channels
- Integrate best security practices
- Live beta testing
- Maintain a good legal team for compliance