The cryptocurrency/blockchain is one of the fastest-growing technologies, so startups & entrepreneurs are willing to start their businesses in it. For those who want to start a successful crypto business & generate more revenue in a short period, Cryptocurrency Exchange is the preferable cryptocurrency/blockchain, business model.
Do you know why??? The cryptocurrency exchange is the best revenue-inducing business model & their business gate is not affected by any pandemic situation. These 2 are the main reasons why the entrepreneurs are interested in starting their own exchange platform. In that regard, they didn’t know how to start? This blog will guide you to launch your crypto exchange platform successfully. Let’s directly move to the topic,
- Crypto market research.
- Operating location.
- Select the type of crypto exchange business model.
- Plan the architecture of your crypto exchange platform.
- Set up a legal team of Blockchain counsellors.
- Choose the type of your crypto exchange platform development.
- Find a reliable cryptocurrency exchange script provider.
- Establish high-end security features for your crypto exchange platform.
- Partner up with a trusted payment processor.
- Deploy a beta-testing module.
In general, the cryptocurrency market is highly volatile and complex. Understanding the crypto market will help you withstand the crypto market deflections. Keep track of the crypto market trends to come up with innovative ideas that could pull crypto investors to your crypto exchange platform.
- Portugal, USA, Germany, Canada, Malta and 100 other countries are approving cryptocurrencies and few of them even accept cryptocurrencies as payments. But some countries like Bolivia, Colombia, Bangladesh, China, Nepal, Morocco, and 36 other countries don’t.
- Deciding the operating location of your crypto exchange platform will help you start and run a crypto exchange platform without any obstacles.
There are 3 types of business models in the crypto exchange platform,
- User to admin
- Orders book
These 3 methods has different functionalities and features and you can choose the model based on your business needs.
Being an entrepreneur, you have to research and structure a perfect business model that will help build a perfect architecture for your cryptocurrency exchange platform.
You will have to set up a legal team of blockchain counselors to assist you create your cryptocurrency exchange platform up and running successfully by abiding to the legal requirements of your operating location.
In general, An entrepreneur can launch their exchange platform in 2 ways,
- Development from scratch
- Launch from cryptocurrency exchange script
Develop from Scratch:
- Difficulty level - Developing your crypto exchange platform from scratch is a tedious process. You need a lot of technical support to complete the crypto exchange platform in one piece.
- Price - Suppose, if you're gonna develop your exchange platform from scratch, the development cost would be very high. Say $50k - $100k.
- Time Period - You need at least 6 - 12 months of your time for your crypto exchange platform development.
- Customization - Hard to customize. You have to ensure that your developers team can handle a robust code.
- Beta Test - Tested only at the development time.
- Features - Only a limited number of features is included in the crypto exchange platform development from scratch. In that regard, adding additional trading, security & ROI features will reflect in your crypto exchange development cost.
- Add-ons - Very risky & too expensive
Launch from Cryptocurrency Exchange Script
- Difficulty level - Simple & easy to launch. The cryptocurrency exchange scripts are pre-designed, developed,& tested software. So, you launch your crypto exchange platform in a hassle free manner.
- Price - When it comes to the cost, It’s really worth your money. Because the cost of a crypto exchange script starts from $5k [ The cost is not precise. Based on your business requirement the cost may slightly changes, but it will not exceed the scratch cost]
- Time-Period - As previously discussed, crypto exchange script is a ready-made software. It is ready to launch in the market instantly.
- Customization - The cryptocurrency exchange script is 100% customizable, so based on your business needs you customize your exchange platform.
- Beta Test - The script is pre-designed & tested in real-world situations. Therefore, the script is 100% bug-free & secured.
- Features - The bitcoin exchange script comes with all essential & advanced trading & security features at a budget friendly price.
- Add ons - Easy to integrate add-on modules at a low cost
In these above-mentioned development methodologies, a cryptocurrency exchange script is an efficient way to launch a crypto exchange platform in a safe, secured & budget-friendly manner. And, you launch your exchange platform within 7 days.
You need to kickstart your cryptocurrency exchange platfrom right away. So, it is essential to choose the best and reliable cryptocurrency exchange script service provider to initiate your cryptocurrency business and earn huge ROI.
Secure your cryptocurrency exchange platform with high end security features like SSL encryption, HTTPS authentication, 2FA, CSRF protection, Anti-DDoS safety measures, etc.. as per your business requirements.
You cannot run a cryptocurrency exchange platform without a trusted payment processor to conduct the payments of your users from your exchange to their wallets. So, it is best to integrate a trusted payment processor for your cryptocurrency exchange platform.
It is time to go for a beta testing module after all the development process and customization features that are included in your cryptocurrency exchange platform. After successful beta testing, the platform goes live and it is time for you to make profits with your crypto exchange platform.
The above-mentioned steps will help you to create your cryptocurrency exchange platform that can generate huge ROI for your business. All you have to do is to approach a professional and expert cryptocurrency exchange clone script provider to kickstart your crypto platform instantly using cryptocurrency exchange script. This will help you to build your crypto exchange platform right away in a hassle free manner.