We have to admit - the crypto industry is a big thing right now.
And it was about time. Blockchain technology was a great idea from the beginning. It just took some time for people to get used to it. After all, it sounded too good to be true – the idea of financial independence and everything that comes with it. But it is as real as it gets.
And since cryptocurrency exchanges are on a roll, why don’t you take advantage of that and start your own crypto business? If you don’t feel confident in your coding abilities, don’t worry. This article puts together some of the best crypto exchange software providers to make your business idea a reality.
Openware is an open-source Blockchain software R&D French company with over 15 years of experience in Fintech.
It is, by far, one of the most controversial platforms in the crypto industry. Openware has conquered the hearts and minds of many innovative crypto-businessmen, primarily because of its flexibility and project growth potential.
The OpenDAX exchange platform software can be used for many crypto services since you can mold it into any Blockchain platform for any market – imagination is your only limit. Add to that the fact that its codebase can be easily audited or tweaked, and you got yourself a great headstart.
Another exciting aspect is that Openware allows you to train your tech team, get the full source code, and become fully autonomous, and it won’t cost you arm and leg. And to top it off, Openware has some of the most cost-effective software solutions – starting with just $75k for top-shelf Blockchain software.
However, if you plan to host and support the Openware software all by yourself, you will need a serious technical team at your side since it requires extensive DevOps technical expertise.
And its popularity has its downside as well – you may have to wait for a few weeks if you request additional customization because the company is quite often booked ahead. Plus, most customer references are protected by NDA, so it’s complicated to find reviews and evaluate who uses the platform in their projects.
Alpha Point is a white-label crypto software company with customers from over 35 countries. It was founded in 2013 by Igor Telyatnikov – with more than 15 years of experience in leading IT companies.
It is a trusted US-based company with a wide selection of software solutions, like exchanges, brokerages wallets, yields, and more. The customer use cases and references prove the quality of its services.
However, the crypto exchange solution is locked into its matching engine, with no possibility for branching, and it is also pretty expensive – starting with $200k.
Plus, it’s not an ideal solution for those who want to show originality – you don’t have flexibility in customization. If you want a new feature, you have to wait for a major release so the company will provide it to all of its customers.
Chain Up is a pretty new Singaporean crypto exchange software company founded in 2017.
But so far, it has provided over 500 clients around the world with technology services. Chain Up specializes in crypto exchange solutions, but they also offer wallets, liquidity, and more.
It has many good customer use cases, mostly because of the liberty they provide people with in terms of customization.
You also can buy source code and go autonomous, but note that you will not receive the trade matching engine as it is encrypted – which is unfortunate, being one of the essential parts of an exchange platform.
Regarding the costs, you may need to invest a little more than you can expect. For SaaS, the company requires $110k/year, and to self-host, you need to pay $320k/year. So yeah, not for every wallet.
You’ve probably heard about BlueHelix since the well-known Huobi exchange founded it. Bluehelix has provided over 300 crypto companies with Blockchain solutions.
Besides having pretty much anything you would need for asset trading, they also provide customers with the possibility to join a shared liquidity pool. That leads to adequate Chinese liquidity, and it’s probably the best way to enter the Chinese market.
But here is the thing. The company is mostly dedicated to Chinese customers, and only a few team members speak English. If you don’t speak Mandarin, you can’t get adequate help from the support team.
But if you do, that’s great, since the quality of services exceed expectations. Just know that your budget has to be prepared to take a hit if you ever think about going autonomous – the source code for your to-go menu is at $500k.
Byte Bulls is dedicated to bold entrepreneurs since it’s probably the best choice for the crypto gambling market. But let’s not limit it to that, as its services go beyond just gambling.
With crypto gambling being partially decentralized, it’s easier to run legally. The BB team’s workflow looks excellent, the company promising to complete the platform orders in no more than two weeks.
Byte Bulls is also known for its variety of side-products, like crypto games, token swap, e-signature, and more. In other words, a great way to customize the gamification of your platform and differentiate it from the competition.
Although it’s the only way to customize your platform because it is a closed code, the software is also locked into its blockchain, contributing to its growth, not to your exchange growth. So pay attention to that.
Regardless of the service you want to choose, it’s essential to know what you want to achieve with your exchange platform when approaching the technical solution for it.
Take some time to think about the main features you would want to manage and promote, the target market, the budget – and then decide based on that.
Every exchange software has its ups and downs. You just need to evaluate which one offers you the most advantage when starting your crypto business.