Hi everyone! I'd like to share some tips on building your own cryptocurrency exchange.
1. 10 of the 10 biggest cryptocurrency exchanges are developed by companies located in Asia. About 50% of them work mainly with local residents. Thus, there are still opportunities to launch successful exchanges on other local markets.
2. Generally, there are 3 ways to build your own cryptocurrency exchange: white label solutions, open source solutions, and custom software.
3. White label solutions:
+ €30,000-50,000 per year
+ rapid deployment
+ highly reliable (if it has many REAL customers and you have REAL testimonials from these customers. Or if a vendor is trusted itself)
- not really flexible
- reccurent fees
- support depends on particular vendor
4. Open source solutions:
+ free
+ rapid deployment
- not reliable
- not secure
- without support
5. Custom software:
+ outstanding features
+ secure and reliable
+ you don't share your profit with someone else
- long development time
- lack of experienced developers
- $200,000 and more
How do you think, is it still real to start your own cryptocurrency exchange and make money? If yes, which variant would you choose? If no, what are the main challenges that an exchange founder may face?
If you want more information, you can read this comprehensive guide:
https://softmedialab.com/blog/build-your-cryptocurrency-exchange/ If you have questions, feel free to ask