Crypto Exchange - Developing from scratch vs White label/clone software

[Hannah_Simone]

Cryptocurrency business models attract more entrepreneurs and startups in recent times. In that regard, Cryptocurrency exchange, cryptocurrency payment gateway and cryptocurrency wallets are the well known and profitable businesses in crypto space. Cryptocurrency exchange is one of the highly revenue generating business models in the crypto ecosystem. If you have any idea to do business involving crypto, then starting a crypto exchange is the right choice. Considering the effort required to cover its basics, starting a cryptocurrency exchange is not everyone’s cup of coffee.

Many entrepreneurs and startups might gather information on developing procedures, insights and security features about crypto exchange before commencing the actual work. While gathering information about developing procedures you might have heard about developing methodologies. There are two types of methodologies to develop crypto exchange software.

Developing from scratch - Developing crypto exchange software from scratch enables you to implement your own ideas all along. Choosing the right technology, features, and other aspects is the decision of the entrepreneur. You can get your crypto exchange in a way that exactly you desire. However, it takes a little more time and is cost consuming for development. 

White label/clone script softwares-It is a ready made software that comes with all basic features. White label/clone scripts are subjected to various customizations (Logo,theme and contact details). You can launch white label crypto exchange software within 10days and at a stingy cost.

I hope this might have brought a pinch of clarity to most of y’all about crypto exchange development types. If you consider white label/clone softwares to be efficient, I’m afraid you might be a little biased. Considering only the time and cost factors won’t be sufficient. If you are an entrepreneur, it is highly advisable to analyze and  implement your own ideas. Because, it will be your own crypto exchange and you will outshine others with your unique ideas. So, it is okay to eat up a little bit of time and cost.

I have given a gist of the concept. Here I'm going to explain why developing software from scratch is more efficient than whitelabel/clone software.

Ownership - Paying for white label/clone software is a bit like buying a pig in a poke. You may end up buying a software without examining their work and source code. The quality of software is totally under the developers control and not yours.

In scratch, you will entirely own the source code with significant ownership. In a nutshell, you'll be the sole owner of the code.

Hacking issues - Let me explain this with an example. Consider 5 entrepreneurs launching a crypto exchange using the same white label/clone software. If one of the crypto exchanges is hacked then the others could be easily hacked with great ease. You can’t prevent this unfortunate scenario despite adding several security features. This is because the source code is the same for all exchanges.

Developing from scratch enables you to integrate state-of-the-art security features. Having a unique source code makes it extremely difficult to hack into. 

Brand identity overlaps - Developing crypto exchange using clone script/white label will not give you the recognition you deserve. Users will definitely get confused. Due to the similar architectural frameworks, users won’t be able to differentiate white label/clone script software  without logo and names. If you’re using white label/clone script, earning a unique identification will be like extracting blood from stone.

By implementing scratch, you can implement your ideas and presentations based on your business approach. You can be unique and get enough credibility without having to replicate others.

Limited customization - Integrating a white label/clone script will allow customizations only on a basic level. Any major subsidiaries & alterations will require assistance from  the script developer. Even though you can buy a white label/clone software at low cost, you have to pay for every single add on feature. Compared to this, you can develop a crypto exchange software from scratch.

These are all the notable drawbacks of white label/clone script crypto exchange software. Always keep in mind that, to run a successful crypto exchange, you shouldn’t be alarmed when considering the cost and time. From my knowledge, developing a crypto exchange from scratch is the ideal choice. You can build a unique crypto exchange from your own ideas. Considering all good things take up equivalent time,  developing from scratch takes time and requires ample time to develop with all the uprising features.

The market is flooded with white label/clone software providers. It's a tedious job to find an experienced developing company. I have analyzed the current market and found a pioneer in crypto exchange development. ZAB Technologies is one of the most reliable cryptocurrency exchange development companies. They have experienced blockchain developers, web designers, and crypto experts to help you with superfine crypto exchange development services. Having a set of professional experts will give you a technical edge over your competitors.

Contact them via :
Whatsapp: +91 77085 29089
skype: live:contact_86571