Wondering what a white label solution is? Let us look at general information as mentioned on Wikipedia “A white label product is a product or service produced by one company (the producer) that other companies (the marketers) rebrand to make it appear as if they had made it.” White label solutions have played a significant role in the cryptocurrency market as well. Ibinex is said to be a market leader when it comes to developing a customized white label crypto exchange solution. The turnkey solution from Ibinex not just provides necessary back-end support but also offers some features like KYC/Onboarding, FIAT to Crypto Processing, Custodianship. Ibinex has also come up with its latest first of its kind solution known as Connect which allows you to connect existing major exchanges and Ibinex exchanges into a single trading network.

Developing your own cryptocurrency exchange is not as easy as it looks, rather it requires a team of technical experts that have proper knowledge and expertise. Apart from that, you will also need a large expenditure on development, regulatory/compliance and operational resource hours. At the same time, you also need to take care of legal aspects pertaining to crypto exchange. In order to avoid all these issues, you can opt for a white label solution provider like Ibinex who will help you set up your crypto exchange in less than a months time. Ibinex’s turnkey solution requires absolutely no input from the client’s respective IT departments. The B2B white label crypto exchange from Ibinex will fully support your corporate branding with your retail clients and at the same time will provide the necessary support for your back-end operations. The solution also includes features like KYC/Onboarding, FIAT to Crypto Processing, Custodianship, a fully EU regulated environment and much more.

There are no sure shot tips that can guide you for selecting the best in the industry. One can surely conduct proper research before finalizing a deal. You can read articles on the internet and get guidelines from people who are already involved in trading on various exchanges. Some of the basic tips that you should consider before opting an exchange are mentioned below:-

Security:- An exchange must be equipped with high-security features ensuring the excellent safety of the funds of their traders.

Supports Multiple Cryptocurrencies:- As we all know that there is not just one cryptocurrency format known as bitcoin, but there are a lot of other cryptocurrencies in the market. You need to check whether the cryptocurrency you want to deal with is being traded on the exchange.

Liquidity:- It is necessary that the exchange offers sufficient liquidity and trading volume to help ensure your transaction is quick and easy.

Fees:- This is the most critical factor to be considered. You need to make sure that the fees that are charged by the exchange are not very high. At the same time, you do have to see that you are not selecting an exchange that charges very less or nominal fees, because if you pay next to nothing in transaction fees and then you might lose your funds to a potential hacker's attack. So always prioritize security over fees.

Location:- It is one of the factors which is neglected the most. The location of your selected exchange will dictate the regulations it will have to comply with.

The tips as mentioned above are being taken from a blog found online. To know more about the tips mentioned in the blog, you can visit the following URL:- https://medium.com/@ibinex/key-features-to-be-considered-before-choosing-a-crypto-exchange-b628a718e812

Although there are a lot of mistakes that any newcomer makes, some of the most common mistakes are mentioned below:-

Not doing your homework:- Don't blindly follow anyone's advice instead do proper research and study the industry trends before investing heavily.

Lack of patience:- As it is said: "Patience is a Virtue". You need to have patience, buying and selling without proper planning is not the way it has to be. You need to plan accurately before trading in cryptocurrency.

Inadequate knowledge:- People invest big without knowing exactly how cryptocurrency works. It is necessary to get complete knowledge of what cryptocurrency is and how it works. People need to have an up to date information so that they can take a wise decision during trading in cryptocurrency.

Not maintaining vital information:- Keeping track of passwords, private keys is necessary. Most of the times people don't note them down and memorize them for the time being and then tend to forget them. So it is always beneficial to note them down and keep the information in a safe and secure place.

Avoid 2FA (2 Factor Authentication):- Two-factor authentication acts as a safety parameter as it provides additional security features reducing any spammy attacks.

The term KYC refers to Know Your Customer. This terminology is more prominently used in the finance industry or the finance business. It is an activity to gather information from the clients and to authenticate on various parameters to make sure that the client holds a clean record.

The term AML (Anti-money-laundering refers) to a set of procedures, laws, and regulations designed to stop the practice of generating income through illegal actions.

Most of the cryptocurrency exchanges heavily rely on this two terms and have a strict KYC and AML policy of their own to deal with frauds and protect their funds. Even if you are planning to start your exchange, then you too have to focus on these aspects, but what if you do not have proper knowledge and expertise to tackle such issues. Under such circumstances, you can opt for a white label solution provider like Ibinex who can tackle this problem with ease and will create a full proof crypto exchange for you in a months time.

Let me be very honest any new technology that comes into existence is said to be difficult at the initial stage, but that doesn't mean that we shouldn't accept it at all. We have to put some efforts to understand the technology. In the case of cryptocurrency, the scenario is the same there are many technologies involved in it like blockchain technology, cryptocurrency mining etc. I understand that these terms and concepts are not as simple to understand in the first go. But it's not impossible as well. In order to understand the cryptocurrency one should first start with the basic by doing research and reading various articles and getting the latest updates regarding the cryptocurrency. Apart from that, we can look for multiple infographics on the internet that would make the work a lot easier. One should also keep in mind that technical aspects that involve technical terminologies should be avoided as not every individual is techno freak and would understand it, so it is necessary to keep it simple.

Crypto world is going through a lot of ups and downs. But still, there are a lot of people who are not very much aware about the concept of cryptocurrency. Some people believe that digital currency is the future and on the other hand there are people who think that cryptocurrency is not a proper solution. So its high time that people need to understand what cryptocurrency exactly is, what are the benefits of this form of digital currency. So as a person who has a keen interest in the world of cryptocurrency need to take the initiative to educate those who deny the benefits of cryptocurrency.

yes its true when there is an off topic reply, when people are looking for some serious reply and they find non interesting and not-related posts, its not actually good for the moderator as well the post user.