Pros and Cons of Using White Label Cryptocurrency Exchange Software — Do You Really Need It?
The basic aim of using white label cryptocurrency exchange software is to start a cryptocurrency exchange without going through long development cycle of making one. The concept of white label cryptocurrency exchange software is growing at a fast pace and is becoming an innovative trend in the high-selling software market. This software facilitates a more convenient way of building a cryptocurrency exchange for your enterprise.
Let us look at the benefits enterprises enjoy by choosing a white label cryptocurrency exchange software.
Pros:
- Quicker deployment process
- Convenient during labs of Technical experience
- Guarantees higher return on investment
- The rebuilding of the wheel is not necessary
- In long-term lowers labor cost
But white label cryptocurrency exchange software comes with a lot of disadvantages as well, few of which are explained below:
Cons
- Need for upfront short-term capital
- An absence of in-depth customization
- Lack of well-researched solutions
- Mundane designs
- Difficult to provide long-term support due to the lack of assistance from vendors.
- Types of license differ from monthly to annually
- Most parts of the cryptocurrency exchange software are outsourced.
Liquidity solutions by white label cryptocurrency exchange software
White labeling is advantageous for new enterprises with limited capital to invest instantly. US-based Hashcash, one of the largest white label cryptocurrency exchange software providers is offering customized cryptocurrency exchange software to enterprises and individuals globally.
A complete trading order book is needed by cryptocurrency exchanges to attract traders from around the world. A full order book facilitates the smooth functioning of buying and selling instantly. The order book becomes unpredictable sporadic rough and chaotic due to the low level of liquidity. Liquidity solutions required by interested traders and enterprises play a big part in the purchase of a white label cryptocurrency exchange software to build your own cryptocurrency exchange.
Top 3 white label providers and their white label products are mentioned below:
- Hashcash
The exchange software is SegWit enabled, multi-currency, multi-signature trading and exchange platform for digital assets. Hashcash offers a range of trading features from market, limit and stop to margin, basket, OTC and short selling. The product offers top-notch security features from 2FA, DDoS, AES 256 encryption to ip tracking and geofencing.
2. CoinsClone
Coinsclone’s white label cryptocurrency exchange software offers faster deployment time and core dependency. It provides installation of source code, business-ready functionalities, P2P Option and P2A Option and other advanced Buy-Sell-Trade features.
3. Ibinex
Ibinex’s B2B white label cryptocurrency trading exchange completely supports corporate branding and the identity with the retail clientele. It supports back-end operations. The features include FIAT to Crypto Processing, KYC/Onboarding, Custodianship, and EU regulated environment.
Now that you have a clear picture of the pros and cons of white label cryptocurrency exchange softwares, you can make a sensible decision on whether you really need it or not. Choose wisely and trade carefully!
