Crypto Exchange Software

Cryptocurrency exchange platform - a digital platform for exchanging one cryptocurrency for another at a set rate. Users create exchange requests by setting the value and volume of the cryptocurrency. If a suitable counter-offer has already been registered on the site, a deal is concluded between users.

Crypto exchange platform provide the following options:

• Cryptocurrency trading
• Investing in cryptocurrencies
• Currency exchange

White label crypto exchange development is one of the most affordable options for launching your own cryptocurrency exchange. This option for starting a crypto business is often compared to outsourcing, where software development is outsourced to a third party. But in the case of purchasing a “White Label” solution, everything is even simpler: there is no need to wait for the completion of the work, control their progress and accept possible failure.

The Merkeleon white label exchange standard version is ready to launch within 2 weeks or a little longer if Operator would like to make changes in the front-end, add some new modules, types of orders, payment methods.

The main advantages are:

• rapid deployment
• lower financial costs (5-10 times cheaper),
• higher potential for increasing the return on investment,
• freeing up the time it takes to plan and implement a technical development and business management plan,
• the cycle of development and technical development is not interrupted and does not require resources for restoration.

There are three most important key points how to start own crypto exchange:

• Obtain a cryptocurrency license.

The operator can choose a jurisdiction independently in accordance with the further development of business processes or seek legal advice to ensure that the licensing requirements for cryptocurrency exchanges are met. It can be Estonian, Maltese, Swiss, Liechtenstein, Gibraltar license.

A financial license will be required if the exchange works with fiat. On the top of it crypto exchanges must use the “Know your customer” (KYC) system to counter money laundering.

• Choose the right software provider for the crypto exchange.

By choosing a Merkeleon ready-to-go solution Operator can significantly save the costs of developing the platform and finding qualified specialists, as well as reduce the launch time of the cryptocurrency exchange. Moreover, Merkeleon provides full highly qualified technical support after the launch of the platform, which facilitates the work of the Operator, as it can fully concentrate on the business processes and its promotion online and offline.

• Provide protection against cryptocurrency exchange hacking.

The security issue has been resolved with the Merkeleon crypto exchange. Our first Crypto Exchange was launched in 2014, we are one of the pioneers on the crypto market. One of our platforms was acquired by Bitfury. Our extensive unique experience in this field helps our operators to optimize their operational risks and expenses, and effectively manage their trading business.

Our team put lots of efforts on our monthly functionality updates and regular security audits. The latest audit was held in liaison with Kaspersky Lab. To find out more about what measures was taken, you can check the report posted on Kaspersky official website.

Most likely, not once have you thought about where you can invest money, what type of business to choose and how much income you can get in order to recoup the costs. One of the proven options is to invest in crypto exchange. This type of business allows you to achieve profit from fees on orders, deposits and withdrawals, and others. However, it should be taken into account that in order to launch an exchange, you need to think over a business strategy:

• prepare marketing and financial plans,
• define business goals,
• determine the development budget,
• find a reliable supplier of software and KYC provider,
• settle legal questions and make a crypto license,
• study the market and dynamic directions

The general success of the exchange depends entirely on the correct strategy and reliable software and business partners.

Security of the exchange is the most important criterion when choosing software. Merkeleon, in turn, makes every effort to make its platform one of the most secure cryptocurrency exchange in the world. Consequently, Merkeleon and Kaspersky Lab teamed up for blockchain business protection and a tailored service package was created to ensure a high level of protection for the most secure crypto trading platform. This list of services is available to all Operators of Merkeleon and includes the following options:

• Premium support Merkeleon & Kaspersky Lab
• Coin Matching Service
• Fraud Prevention
• Regular safety assessment and penetration testing
• Prevention of account hijacking
• Crypto-SOC Intelligence
• Valuation of tokens and smart contracts

Merkeleon offers ready-to-go solution packages for a crypto exchange that can adjust to almost any Operator's budget. White label cryptocurrency exchange costs from 20,000 euros to 80,000 euros, depending on the number of currency pairs, payment methods, design, additional modules and many other perks. Newbies can start with a more basic product and upgrade to a more advanced as things go up the hill. Merkeleon also offers the option of migrating from the Operator's current exchange to the advanced Merkeleon platform.

Technically, launching your exchange is a fairly fast process, if you use the ready-made trading engine and exchange software. However, before launching asset exchange, it is important for the operator to pay attention to equally important issues, such as, for example,

• do you want to launch a centralized crypto trading platform or a decentralized exchange,
• do you want to launch an exchange clone like binance or launch your project with some individual component based on bitcoin exchange script,
• what (digital) assets do you plan to offer for trading,
• what will be the target region and local regulation of the cryptocurrency exchange,
• issues of forming management and operational teams,
• marketing strategy,
• the presence of a partner network among financial institutions to open a current account and offer a fiat payment method for your users, in case of a decision to launch a crypto-fiat exchange.

Solving these issues may take much longer, which may delay the launch of a business from 2 weeks to 1-2 months, and in some cases it may take more than six months.

To protect your project, we recommend paying attention to the landscape of the main threats to the crypto businesses and crypto exchanges in particular. In general, they can be divided into the following groups:

Internal

• Targeted phishing via social networks
• Social engineering

External

• Theft of traders' and users' accounts
• Fraud via web and mobile applications
• L3 and L7 DDoS attacks

Infrastructure

• Lack of standards in the development and implementation of cryptocurrency exchange

script

• Vulnerabilities in the trading process
• Multi-stage targeted attacks on Bitcoin exchange software
• Insider work of scammers
• Infection of updates of popular applications and software

To protect your bitcoin exchange script and company, we recommend that you pay attention to your team and support its active work in the following main areas of security measures:

Internal

• Traditional end-point security
• Basic training of cyber-hygiene

External

• Phishing pages monitoring
• Prevention of DDoS attacks
• Fraud prevention for mobile and web applications

Infrastructure

• Security audit of exchange platforms and exchange software
• Crypto exchange software Perimeter Penetration Test
• Account theft prevention
• Solutions for threat detection targeted attacks on crypto exchange script

If there are many concurrent users sending concurrent requests, the exchange script or cryptocurrency trading script will on the one hand limit the number of requests from one IP address, and on the other hand increase quotas for AWS cloud resources. It is, therefore, important that the exchange script responds effectively without passing excessive costs on operators.

COVID-19 wreaked havoc in the global economy - estimates of global economic damage vary wildly, but all of them are staggering. However, the crypto currency market showed immense growth since the Pandemic. Bitcoin price is skyrocketing no matter what.

Such beneficial impact of the Pandemic on the crypto market is caused mainly by 3 factors:

• General growth of all e-commerce related industries due to lockdowns.
• Improvement on crypto regulations in many countries.
• Large investors use crypto as a safe haven while traditional markets are in disarray.

So COVID-19 not only led to the growth of crypto, but also proved that cryptocurrencies are reliable and mature assets worthy of even the largest institutional players attention.