Do and Dont while starting crypto exchange
Yes, please avoid low-quality crypto exchange script and plugins to develop your exchange website. This might be too risky for your business because free and open source software is not very secure and not recommended. It is the primary reason for many crypto exchanges not getting proper recognition.
The problem is
Small startup companies pick the cheap open source codes due to the budget problem. But this is the wrong assumption that many of the entrepreneurs don’t know. Premium bitcoin exchange clone script is still available at the best price.
Also, the free software and open source codes have certain limitations and lack the important features which are used nowadays. For example, open source comes with the basic template consisting of features like registration, buy-sell bitcoins, wallet storage, trade location limit. Beyond this, it needs a lot of stuff to attract the userbase on the website.
Things to do before starting crypto exchange:
1. Get proper legal counsel to ensure licensing requirements are met in your country.
2. Attain funding for starting a venture.
3. Find the best technology solution provider who had a better experience.
4. Connect your exchange with other exchange for added liquidity.
5. Partner with a payment gateway processor.
6. Implement the best security practices.
7. Go live via beta testing before launching the website.
8. Start marketing & PR campaign to reach your exchange to the intended users.
9. Provide seamless customer support.
10. Keep a legal team for ongoing compliance and regulations.
Around 500 crypto exchanges are active on the planet. But how many of them got recognized properly? Think deeper. It’s very simple, the successful exchanges had used limitless features for best user experience. If you’re giving the best platform to trade and exchange, you’ll be in the market. Or else thrown out.
Again I’m wrapping up that entrepreneurs should go with a high-end script to give the best experience for the users. In our sellbitbuy, cryptocurrency exchange script comes with a compelling price and advanced features. Contact us for pricing inquiry.