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Since developing the exchange software for starting a cryptocurrency exchange is highly complex, its development and debugging can take a whole year or even more. Keep in mind about the time involved, the professionalism of your developer team heavily influences the amount of required time.
The qualified team requires a lot of resources for successful development. I barely estimated the cost for such a development. But it’s different depends upon the features you want and it can’t be exactly determined. For example, creating an exchange with white label your brand takes additional resource time for deployment. So do your own research and analyze the market pricing and proceed further.
There are different types of scripts such as Open source, cheap scripts, pre-packed white label and custom bitcoin script.
Open source: It is the public exchange software that anyone can use it according to the needs. It has to be handled by the technically qualified. Otherwise, it’s a headache. The open source script is available in github and other online resources.
Cheap script: Some companies offering cheap script similar to the opensource but with the special price tag. There is nothing more special in this.
Pre-packed white label script: It is much expensive than above two because it comes with the support of development company that created them. Any support can be easily handled by the expert team.
Custom script: It is the tailored made script with specific customization and goals. It is the most recommended one to appeal that it can be hassle-free. Cryptoexchangescript.com is giving custom-made bitcoin exchange trading script.
Steps to develop bitcoin exchange:
There are some primary things needed to start bitcoin exchange. Before starting you have to,
- Get proper legal counsel to ensure licensing requirements are met in your country.
Attain funding for starting a venture.
3. Find a best technology solution provider who had better experience.
4. Connect your exchange with other exchange for added liquidity.
5. Partner with a payment gateway processor.
6. Implement 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.
How to get a liquidity provider:
Bitcoin exchanges are not familiar and legalized in all countries. So, the trading volume and transactions may differ in each country. If you are new startup who recently started or want to launch new bitcoin exchange in your country, then how to get a liquidity provider when opening an exchange?
There is some leading liquidity providers offer premium API for the exchanges. When you install the liquidity API in your new bitcoin exchange website, then the trade volume is automatically shown in the exchange.
Again I ‘m saying that the development is not like what you think. It needs high end technical skills to develop and test the trading platform whether it’s working or not.