crypto currency

The size of the cryptocurrency market is increasing incredibly. More and more people are getting into crypto exchange currency business by every passing day. According to CoinMarketCap, the market of cryptocurrency is witnessing the incredible growth figures over the past decade. When we get to the numbers, we will see the number of cryptocurrencies has risen to 2300 by 2019. Isn’t it amazing?

Initially, to earn rewards, people used bitcoin mining. Bypassing time and due to the saturation, there was a reduction in the rewards as compared to early days. This played a crucial role in the shift of people’s interest from bitcoin mining to cryptocurrency exchange development. For making a huge profit and to enter in the crypto market, modern-day entrepreneurs and business people are looking forward to create a cryptocurrency exchange platform. The best example of it is Binance. It is a cryptocurrency exchange platform. It recently hit a massive mark of $1 Billion marks in cumulative profit, Q3 of 2019 alone made about $183.5 Million.

Read more about Why is the bitcoin price going down?

If you are a crypto enthusiast or looking to create a cryptocurrency exchange platform, then the above facts and figures would be more than enough to let you see how huge this cryptocurrency exchange is becoming. Today and in coming years this is going to give enormous opportunities for revenue generation. To create a crypto exchange platform that can bring you profits, follow a well-orchestrated approach – be it from white-label exchange software or ground zero.

The stats reveal that setting up a crypto exchange is a huge opportunity that can be capitalized by crypto enthusiasts looking to start a crypto exchange for revenue generation. If you are planning to make your cryptocurrency exchange – be it from ground zero or white-label exchange software – follow a well-orchestrated approach to create crypto exchange platform that can bring you profits.

Read more about How does bitcoin work?

Let’s see a step by step guide to starting a cryptocurrency exchange business:

Step 1: Identify the type of exchange you looking to launch :

First things first, you need to do proper research and find what kind of crypto exchange you want to start in the first place. To find the perfect crypto exchange, you need to know first how many types of exchange platforms are available.

• Centralized exchange: this is a kind of exchange platform in which you a third party or an intermediary for crypto transaction.

• P2P exchange: A P2P or peer-to-peer exchange doesn’t demand any third party or middleman involvement in the crypto transaction.

• Decentralized exchange: No intermediary is required in this exchange platform and serves you better security then Centralized and P2P both.

Step 2: Conduct thorough market research:

If you’re a newbie or an individual shifting from another niche to crypto exchange must don thorough research. This research will give you a clear vision of the decision you make. This will also result in more profit and less loss. The current market trends matter a lot in the crypto exchange, and without research, it’s quite challenging to know the direction.

Step 3: Identify the location where you plan to launch your exchange

The location you are going to launch in your exchange also matters a lot. A wrong decision will result in a considerable loss. It’s better to take time and decide the perfect location which can generate maximum profit for your crypto exchange.

Read more about Which cryptocurrency should I invest

Here are some countries which are crypto-friendly for your crypto exchange:

• USA
• Japan
• Switzerland
• Singapore
• Luxemburg
• Hong Kong
• Malta
• Estonia
• Bermuda

Step 4: Check out the jurisdictions of the country where you intend to launch your exchange

Since the market of a crypto exchange is proliferating governments keep bringing new laws and also have already made laws. One must go through all the jurisdictions to make sure the platform will not face any problems according to the law.

Step 5: Hire a team of legal counsellors.

It is always good to have a team of legal counsellors. They will guide you as well as back you up with all the standard ways to protect your crypto exchange from getting in any trouble.

Step 6: Identify the cost to build a crypto exchange

It’s essential to realize the cost in the whole setup of your crypto exchange. If the price crosses the budget and then you will be halfway in building your crypto exchange, and you will be already stuck in financial issues.

Step 7: Partner with a cryptocurrency exchange development company

Partnering with a crypto exchange development company will help you in saving many resources. As they are the professionals and they know their job. The success of your project directly depends on development.

Below is a list of some professional cryptocurrency exchange development company:

• C-suite executives
• Subject matter experts
• Blockchain developers and designers
• Blockchain analysts
• Financial advisors
• Blockchain and crypto marketing experts

Step 8: Decide on the features that you want to integrate into your exchange.

This is a crucial point as it can take your exchange in colossal profit and massive loss if not decided smartly. You must always look for features that users are looking for in any crypto exchange.

The users highly demand these features:

• Robust matching engine
• High liquidity options
• Instant KYC/AML verification
• Secure crypto wallet integration
• Bot integration
• Referral program
• Fund investment
• Multi-cryptocurrency support
• Multi-language support
• Leverage trading
• Market making
• Self-explanatory interface

Step 9: Introduce your crypto exchange to your target audience

Once the exchange is launched, you must know your targeting audience to introduce it. No one will search for you in the first place. Here are some ways you can find your targeted audience:

• Search engine optimization (SEO)
• Content marketing
• Social media marketing on channels like LinkedIn, Twitter, Facebook, Instagram, Telegram, and more
• Email marketing
• Pay Per Click (PPC)
• News and PR
• Forums like Bitcointalk, Cryptointalk, Reddit, Quora, and more
• Bounty programs
• Reputation management

Step 10: Deliver round-the-clock support.

As a crypto exchange, you must be available to your audience 24*7 for 365 days if you want to take the business to new heights. You must build a reliable and robust support system for your audience.

Summing up

These were some important information that will help you in building a healthy and profitable crypto exchange. You must follow step by step this guide to witness some incredible growth if you’re going to develop a crypto-exchange.

How to start a cryptocurrency exchange business?

The size of the cryptocurrency market is increasing incredibly. More and more people are getting into crypto exchange currency business by every passing day. According to CoinMarketCap, the market of cryptocurrency is witnessing the incredible growth figures over the past decade. When we get to the numbers, we will see the number of cryptocurrencies has risen to 2300 by 2019. Isn’t it amazing?

Initially, to earn rewards, people used bitcoin mining. Bypassing time and due to the saturation, there was a reduction in the rewards as compared to early days. This played a crucial role in the shift of people’s interest from bitcoin mining to cryptocurrency exchange development. For making a huge profit and to enter in the crypto market, modern-day entrepreneurs and business people are looking forward to create a cryptocurrency exchange platform. The best example of it is Binance. It is a cryptocurrency exchange platform. It recently hit a massive mark of $1 Billion marks in cumulative profit, Q3 of 2019 alone made about $183.5 Million.

If you are a crypto enthusiast or looking to create a cryptocurrency exchange platform, then the above facts and figures would be more than enough to let you see how huge this cryptocurrency exchange is becoming. Today and in coming years this is going to give enormous opportunities for revenue generation. To create a crypto exchange platform that can bring you profits, follow a well-orchestrated approach – be it from white-label exchange software or ground zero.

The stats reveal that setting up a crypto exchange is a huge opportunity that can be capitalized by crypto enthusiasts looking to start a crypto exchange for revenue generation. If you are planning to make your cryptocurrency exchange – be it from ground zero or white-label exchange software – follow a well-orchestrated approach to create crypto exchange platform that can bring you profits.

Let’s see a step by step guide to starting a cryptocurrency exchange business:

Step 1: Identify the type of exchange you looking to launch :

First things first, you need to do proper research and find what kind of crypto exchange you want to start in the first place. To find the perfect crypto exchange, you need to know first how many types of exchange platforms are available.

• Centralized exchange: this is a kind of exchange platform in which you a third party or an intermediary for crypto transaction.

• P2P exchange: A P2P or peer-to-peer exchange doesn’t demand any third party or middleman involvement in the crypto transaction.

• Decentralized exchange: No intermediary is required in this exchange platform and serves you better security then Centralized and P2P both.

Step 2: Conduct thorough market research:

If you’re a newbie or an individual shifting from another niche to crypto exchange must don thorough research. This research will give you a clear vision of the decision you make. This will also result in more profit and less loss. The current market trends matter a lot in the crypto exchange, and without research, it’s quite challenging to know the direction.

Step 3: Identify the location where you plan to launch your exchange

The location you are going to launch in your exchange also matters a lot. A wrong decision will result in a considerable loss. It’s better to take time and decide the perfect location which can generate maximum profit for your crypto exchange.

Here are some countries which are crypto-friendly for your crypto exchange:

• USA
• Japan
• Switzerland
• Singapore
• Luxemburg
• Hong Kong
• Malta
• Estonia
• Bermuda

Step 4: Check out the jurisdictions of the country where you intend to launch your exchange

Since the market of a crypto exchange is proliferating governments keep bringing new laws and also have already made laws. One must go through all the jurisdictions to make sure the platform will not face any problems according to the law.

Step 5: Hire a team of legal counsellors.

It is always good to have a team of legal counsellors. They will guide you as well as back you up with all the standard ways to protect your crypto exchange from getting in any trouble.

Step 6: Identify the cost to build a crypto exchange

It’s essential to realize the cost in the whole setup of your crypto exchange. If the price crosses the budget and then you will be halfway in building your crypto exchange, and you will be already stuck in financial issues.

Step 7: Partner with a cryptocurrency exchange development company

Partnering with a crypto exchange development company will help you in saving many resources. As they are the professionals and they know their job. The success of your project directly depends on development.

Below is a list of some professional cryptocurrency exchange development company:

• C-suite executives
• Subject matter experts
• Blockchain developers and designers
• Blockchain analysts
• Financial advisors
• Blockchain and crypto marketing experts

Step 8: Decide on the features that you want to integrate into your exchange.

This is a crucial point as it can take your exchange in colossal profit and massive loss if not decided smartly. You must always look for features that users are looking for in any crypto exchange.

The users highly demand these features:

• Robust matching engine
• High liquidity options
• Instant KYC/AML verification
• Secure crypto wallet integration
• Bot integration
• Referral program
• Fund investment
• Multi-cryptocurrency support
• Multi-language support
• Leverage trading
• Market making
• Self-explanatory interface

Step 9: Introduce your crypto exchange to your target audience

Once the exchange is launched, you must know your targeting audience to introduce it. No one will search for you in the first place. Here are some ways you can find your targeted audience:

• Search engine optimization (SEO)
• Content marketing
• Social media marketing on channels like LinkedIn, Twitter, Facebook, Instagram, Telegram, and more
• Email marketing
• Pay Per Click (PPC)
• News and PR
• Forums like Bitcointalk, Cryptointalk, Reddit, Quora, and more
• Bounty programs
• Reputation management

Step 10: Deliver round-the-clock support.

As a crypto exchange, you must be available to your audience 24*7 for 365 days if you want to take the business to new heights. You must build a reliable and robust support system for your audience.

Summing up

These were some important information that will help you in building a healthy and profitable crypto exchange. You must follow step by step this guide to witness some incredible growth if you’re going to develop a crypto-exchange.

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