How to choose the right white label platform for your Crypto Exchange
You decided to open a crypto exchange? Or maybe it’s part of your blockchain venture?
You are looking for suitable solution that fits your timeline and budget?
Crypto exchange is a complex system with high end requirements for security, performance and operation complexity. Development from scratch is hard and costly (and risky!), so if you are considering your options, you should also consider using an existing platform.
Crypto exchanges are less popular than CMS but you still several strong players that provide a whitelabel solutions.
So how do you compare them? What questions should you ask?
Based on our experience with multiple platforms, we compiled for you a checklist of essential topics that must be clarified with the provider:
Dedicated / sharing mode: just like with site hosting, are you getting a completely independent instance of the platform that is yours to control?
Pricing: Is it a monthly / yearly price model? Does it include any form of revenue sharing? How much the initial installation will cost?
Hosting: who is responsible for hosting the platform? Can you choose to host it on your servers?
What support / maintenance plans does the provider offer? How about SLA?
What are security features of the platform? Did it undergo penetration testing by recognized authority? Are you allowed to run your own penetration testing?
Open / closed code:
What is the technology stack in use?
If it’s an open source solution, what type of Software license is it distributed under?
If it’s a closed-source solution:
Will you receive a code of the code?
Are you allowed to modify the code?
What customizations are available?
Is KYC procedure provided? Can it be overridden?
Which fiat currencies does the platform support? Is this easily configurable? Is it possible for the backoffice operator to manually modify fiat balances for customers?
Which methods of fiat currency deposit / withdrawal are supported (bank accounts, credit card, something else)?
Which cryptocurrencies does the platform support? Could you add more?
Does the platform support custom fees? Local taxes?
Does the platform support a custom branding? Logo? Templates? Changing the look and feel from scratch?
Is there full access to the backoffice? Can you configure access roles / permissions and fully control back-office users? How is backoffice access protected?
Are all standard trading options supported (limit / market / stop loss orders)?
Does the platform support integration with market maker / external exchanges for increased liquidity?
What reports are available by default? Is it possible to create custom reports?
With this checklist, you have a solid means of comparing offering by different providers!
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